CVB Financial gains 18% on strong Q2 earnings

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Holding company CVB Financial Corp. (Nasdaq:CVBF) shares are up more than 18% today after the company reported after Wednesday’s close a profitable second quarter. For the second quarter of 2008, net income was $17.2 million, or $0.21 per share, compared with $16 million, or $0.19 a share, for the same quarter a year earlier. Wall Street had been expecting earnings of $0.19 per share.

The Ontario, Calif.-based company’s shares have ranged from $7.12 to $13 during the past year. During the past six months, shares have gained 13.3%. In today’s trading, shares are at $10.30, up $1.57 from Wednesday’s close.

For detailed price information and recent news stories about CVB Financial Corp., click CVBF.