CPB Inc. (NYSE:CPF) announced a quarterly dividend on Wednesday, July 26th, RTT News reports. Investors of record on Thursday, August 31st will be paid a dividend of 0.18 per share by the financial services provider on Friday, September 15th. This represents a $0.72 dividend on an annualized basis and a yield of 2.50%. The ex-dividend date of this dividend is Tuesday, August 29th.
CPB has raised its dividend payment by an average of 55.4% annually over the last three years. CPB has a payout ratio of 43.9% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect CPB to earn $1.84 per share next year, which means the company should continue to be able to cover its $0.72 annual dividend with an expected future payout ratio of 39.1%.
CPB (NYSE CPF) traded up 2.46% during mid-day trading on Monday, reaching $28.79. 111,009 shares of the company were exchanged. The stock’s 50-day moving average is $29.67 and its 200-day moving average is $30.67. The company has a market cap of $876.34 million, a P/E ratio of 18.34 and a beta of 1.16. CPB has a 12 month low of $24.46 and a 12 month high of $33.55.
CPB (NYSE:CPF) last posted its earnings results on Wednesday, July 26th. The financial services provider reported $0.39 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.40 by $0.01. CPB had a return on equity of 9.52% and a net margin of 22.59%. The company had revenue of $49.50 million during the quarter, compared to analyst estimates of $51.40 million. During the same quarter last year, the firm posted $0.39 earnings per share. Equities analysts expect that CPB will post $1.64 earnings per share for the current year.
In related news, Director Earl E. Fry acquired 1,730 shares of the company’s stock in a transaction that occurred on Tuesday, June 13th. The stock was acquired at an average price of $32.08 per share, for a total transaction of $55,498.40. Following the completion of the acquisition, the director now 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 is accessible through this hyperlink. Also, Director Paul K. Yonamine acquired 1,400 shares of the company’s stock in a transaction that occurred on Tuesday, August 1st. The stock was bought at an average price of $30.98 per share, with a total value of $43,372.00. Following the acquisition, the director now directly owns 1,400 shares of the company’s stock, valued at approximately $43,372. The disclosure for this purchase can be found here. 4.10% of the stock is currently owned by insiders.
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Several research analysts have commented on CPF shares. Zacks Investment Research cut CPB from a “buy” rating to a “hold” rating in a research report on Thursday, June 8th. BidaskClub cut CPB from a “hold” rating to a “sell” rating in a research report on Wednesday, July 12th. Finally, Piper Jaffray Companies reiterated a “hold” rating and issued a $32.50 price target on shares of CPB in a research report on Friday, July 14th. Two equities research 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. The stock currently has a consensus rating of “Hold” and a consensus price target 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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