Management intends to execute these buybacks through a flexible mix of open market purchases, private transactions, and pre-arranged trading plans. The decision underscores the financial positioning of the California-based holding company, which operates Citizens Business Bank and currently manages a balance sheet exceeding $20 billion in total assets.
CVB Financial Sets Course for 15 Million Share Repurchase
The board of CVB Financial has greenlit a new capital allocation strategy, authorizing the repurchase of up to 15 million shares of its common stock. This move effectively sidelines the previous 2024 buyback program, which still held 5.7 million shares in its remaining balance, to consolidate the firm's equity position.
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