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ONTARIO, California – CVB Financial Corp . (NASDAQ:CVBF), currently trading at $19.01 with a market capitalization of $2.6 billion, announced the results of its Annual Meeting of Shareholders held on Tuesday, May 21, 2025. According to InvestingPro analysis, the company appears undervalued based on its Fair Value estimate. Shareholders voted on several key proposals including the election of directors, executive compensation, and the appointment of an independent registered public accounting firm for the year 2025.
The meeting resulted in the election of eight directors who will serve until the 2026 Annual Meeting of Shareholders or until their successors are elected and qualified. The elected directors are George A. Borba, Jr., David A. Brager, Stephen A. Del Guercio, Anna Kan, Jane Olvera Majors, Raymond (NSE:RYMD) V. O’Brien III, Hal W. Oswalt, and Kimberly Sheehy.
In addition, the shareholders approved, on an advisory basis, the compensation of the company’s named executive officers for 2024, commonly referred to as a "Say-On-Pay" proposal. The proposal received 99,117,640 votes for, 4,796,892 against, and 750,201 abstained, with 18,368,766 broker non-votes.
The appointment of KPMG LLP as the company’s independent registered public accounting firm for 2025 was ratified with an overwhelming majority of 122,004,851 votes for, 929,035 against, and 99,613 abstained.
The outcomes of these votes demonstrate shareholder confidence in the company’s leadership and strategic direction. CVB Financial Corp. is a bank holding company based in California, primarily known for its subsidiary, Citizens Business Bank.
This report is based on the information provided by CVB Financial Corp. in its 8-K filing with the Securities and Exchange Commission.
In other recent news, CVB Financial Corporation reported its first-quarter earnings for 2025, exceeding analysts’ expectations. The company achieved earnings per share of $0.36, surpassing the forecasted $0.33, with revenue reaching $126.6 million, slightly above the anticipated $124.95 million. This marks CVB Financial’s 190th consecutive quarter of profitability, highlighting its consistent financial performance. The company also improved its net interest margin by 13 basis points to 3.31%. CVB Financial repurchased over 2 million shares, which is expected to enhance shareholder value. Economic forecasts indicate potential challenges in commercial real estate, but the company remains focused on relationship banking and exploring merger and acquisition opportunities. Analysts from firms like A. Davidson have shown interest in the company’s strategic approach, noting opportunities in construction lending. Additionally, the company’s specialty banking groups continue to drive growth, contributing to its robust financial standing.
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