Yahoo Finance CVB Financial (CVBF) Q1 Earnings: Taking a Look at Key Metrics Versus Estimates
For the quarter ended March 2024, CVB Financial (CVBF) reported revenue of $126.57 million, down 8.9% over the same period last year. EPS came in at $0.35, compared to $0.42 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $127.87 million, representing a surprise of -1.01%. The company has not delivered EPS surprise, with the consensus EPS estimate being $0.35.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how CVB Financial performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Total interest-earning assets: $14.64 billion versus the three-analyst average estimate of $14.60 billion.
Net Charge-off (% of Average Loans): -0.1% compared to the 0% average estimate based on three analysts.
Efficiency ratio: 47.2% compared to the 45.5% average estimate based on three analysts.
Net Interest Margin [%]: 3.1% versus 3.2% estimated by three analysts on average.
Total NonPerforming Loan: $13.81 million versus the two-analyst average estimate of $23.76 million.
Total NonPerforming Assets: $14.46 million compared to the $23.76 million average estimate based on two analysts.
Net Interest Income: $112.46 million versus $114.69 million estimated by three analysts on average.
Total Noninterest Income: $14.11 million versus the three-analyst average estimate of $12.95 million.
Net Interest Income (FTE): $113 million versus $115.37 million estimated by three analysts on average.
Service charges on deposit accounts: $5.04 million versus the two-analyst average estimate of $4.99 million.
Trust and investment services: $3.22 million versus the two-analyst average estimate of $3.07 million.
View all Key Company Metrics for CVB Financial here>>>
Shares of CVB Financial have returned +1.9% over the past month versus the Zacks S&P 500 composite's -3% change. The stock currently has a Zacks Rank #4 (Sell), indicating that it could underperform the broader market in the near term.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
CVB Financial Corporation (CVBF) : Free Stock Analysis Report
