CPB Inc. (NYSE:CPF) posted its quarterly earnings data on Wednesday, July 26th. The financial services provider reported $0.39 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.40 by $0.01, RTT News reports. The firm had revenue of $49.50 million during the quarter, compared to analysts’ expectations of $51.40 million. CPB had a net margin of 22.59% and a return on equity of 9.52%. During the same quarter in the prior year, the firm posted $0.39 EPS.
CPB (NYSE:CPF) opened at 29.81 on Wednesday. The firm has a market capitalization of $907.39 million, a PE ratio of 18.99 and a beta of 1.15. The company’s 50-day moving average price is $31.00 and its 200 day moving average price is $31.02. CPB has a 1-year low of $24.46 and a 1-year high of $33.55.
The business also recently announced 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 of this dividend is Tuesday, August 29th. This represents a $0.72 annualized dividend and a yield of 2.42%. CPB’s payout ratio is 45.86%.
In related news, Director Earl E. Fry acquired 1,730 shares of the business’s stock in a transaction on Tuesday, June 13th. The shares were bought at an average cost of $32.08 per share, with a total value of $55,498.40. Following the completion of the transaction, the director now directly owns 251 shares of the company’s stock, valued at approximately $8,052.08. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Paul K. Yonamine acquired 1,400 shares of the business’s stock in a transaction on Tuesday, August 1st. The stock was bought at an average cost of $30.98 per share, for a total transaction of $43,372.00. Following the completion of the transaction, 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. Company insiders own 4.10% of the company’s stock.
CPF has been the topic of several research analyst reports. BidaskClub downgraded CPB from a “sell” rating to a “strong sell” rating in a report on Friday, July 28th. Zacks Investment Research upgraded CPB from a “hold” rating to a “buy” rating and set a $35.00 price objective on the stock in a report on Friday, June 9th. Finally, Piper Jaffray Companies reiterated a “hold” rating and issued a $32.50 price objective on shares of CPB in a report on Friday, July 14th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and one has given a buy rating to the company’s stock. CPB currently has an average rating of “Hold” and an average target price of $31.83.
CPB Company Profile
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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