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CVB Financial suspends stock repurchase plan amid pandemic

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CVB Financial suspends stock repurchase plan amid pandemic

Ontario, Calif.-based CVB Financial Corp. will suspend its previously authorized stock repurchase program for up to 9,577,917 of its common shares due to uncertainties surrounding the coronavirus pandemic.

The company has bought back 4,944,290 common shares at an average price of $18.54 during the first quarter. As of March 31, there are 4,585,145 common shares still available for repurchase.

The company said it will evaluate the evolving situation and potential for future stock repurchases.

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