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Stock impact report

CVB Financial Corp. Announces Suspension of Stock Repurchase Plan

CVB Financial Corporation (CVBF) 
Last cvb financial corporation earnings: 4/22 04:50 pm Check Earnings Report
Company Research Source: Business Wire
ONTARIO, Calif.--(BUSINESS WIRE)--CVB Financial Corp. (NASDAQ: CVBF) announced today that it will suspend its 10b5-1 stock repurchase program. The Company’s Board of Directors previously authorized the Company to repurchase up to 9,577,917 shares of the Company’s common stock. During the first quarter of 2020, the Company repurchased 4,944,290 shares of common stock, at an average price of $18.54, and as of March 31, 4,585,145 shares remain available for repurchase.The uncertainty of the COVID-19 pandemic presents an unprecedented challenge for global and local economies and as a result has created uncertainty for our customers. David A. Brager, CEO, commented, “We are focused on supporting our customers through this difficult period of time. Citizens Business Bank is confident that our disciplined strategy to maintain strong capital, excellent asset quality, and abundant liquidity have positioned the Bank to successfully support the current and future credit and banking needs of Show less Read more
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