Legal & General Group Plc raised its position in shares of CPB Inc. (NYSE:CPF) by 0.8% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 51,154 shares of the financial services provider’s stock after buying an additional 418 shares during the period. Legal & General Group Plc owned 0.17% of CPB worth $1,562,000 at the end of the most recent quarter.
Other large investors have also modified their holdings of the company. State of Alaska Department of Revenue raised its stake in shares of CPB by 1.5% in the first quarter. State of Alaska Department of Revenue now owns 3,400 shares of the financial services provider’s stock worth $103,000 after buying an additional 50 shares during the period. Louisiana State Employees Retirement System increased its position in CPB by 0.8% in the first quarter. Louisiana State Employees Retirement System now owns 12,500 shares of the financial services provider’s stock worth $382,000 after buying an additional 100 shares in the last quarter. Arizona State Retirement System increased its position in CPB by 1.3% in the first quarter. Arizona State Retirement System now owns 16,076 shares of the financial services provider’s stock worth $491,000 after buying an additional 200 shares in the last quarter. Los Angeles Capital Management & Equity Research Inc. increased its position in CPB by 2.2% in the first quarter. Los Angeles Capital Management & Equity Research Inc. now owns 13,917 shares of the financial services provider’s stock worth $425,000 after buying an additional 300 shares in the last quarter. Finally, Sei Investments Co. increased its position in CPB by 4.6% in the first quarter. Sei Investments Co. now owns 10,021 shares of the financial services provider’s stock worth $306,000 after buying an additional 440 shares in the last quarter. Hedge funds and other institutional investors own 92.74% of the company’s stock.
CPB Inc. (NYSE:CPF) opened at 30.02 on Thursday. The company has a market cap of $916.03 million, a P/E ratio of 19.12 and a beta of 1.15. CPB Inc. has a 12-month low of $24.46 and a 12-month high of $33.55. The firm’s 50-day moving average price is $31.15 and its 200-day moving average price is $31.07.
CPB (NYSE:CPF) last issued its quarterly earnings results on Wednesday, July 26th. The financial services provider reported $0.39 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.40 by $0.01. CPB had a net margin of 22.59% and a return on equity of 9.52%. The firm had revenue of $49.50 million for the quarter, compared to the consensus estimate of $51.40 million. During the same quarter in the prior year, the firm earned $0.39 earnings per share. Analysts expect that CPB Inc. will post $1.64 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Thursday, August 31st will be paid a dividend of $0.18 per share. The ex-dividend date is Tuesday, August 29th. This represents a $0.72 annualized dividend and a yield of 2.40%. CPB’s dividend payout ratio is 45.86%.
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A number of research firms have commented on CPF. Zacks Investment Research downgraded CPB from a “buy” rating to a “hold” rating in a report on Monday, July 3rd. Piper Jaffray Companies reaffirmed a “hold” rating and set a $32.50 target price on shares of CPB in a report on Friday, July 14th. Finally, BidaskClub downgraded CPB from a “hold” rating to a “sell” rating in a report on Wednesday, July 12th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and one has issued a buy rating to the company. CPB has an average rating of “Hold” and a consensus price target of $31.83.
In other news, Director Earl E. Fry purchased 1,730 shares of the stock in a transaction that occurred on Tuesday, June 13th. The shares were purchased at an average cost of $32.08 per share, for a total transaction of $55,498.40. Following the completion of the purchase, the director now directly owns 251 shares of the company’s stock, valued at approximately $8,052.08. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Paul K. Yonamine purchased 1,400 shares of the stock in a transaction that occurred on Tuesday, August 1st. The shares were purchased at an average price of $30.98 per share, for a total transaction of $43,372.00. Following the completion of the purchase, the director now directly owns 1,400 shares of the company’s stock, valued at $43,372. The disclosure for this purchase can be found here. Insiders own 4.10% of the company’s stock.
About CPB
Central Pacific Financial Corp. is the bank holding company of Central Pacific Bank (the Bank). The Company’s segments include Banking Operations, Treasury and All Others. The Banking Operations segment includes construction and real estate development lending, commercial lending, residential mortgage lending, consumer lending, trust services, retail brokerage services and its retail branch offices, which provide a range of deposit and loan products, as well as various other banking services.
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