CPB Inc. (NYSE:CPF)‘s stock had its “hold” rating reiterated by investment analysts at Piper Jaffray Companies in a note issued to investors on Friday. They presently have a $32.50 price objective on the financial services provider’s stock. Piper Jaffray Companies’ target price would suggest a potential upside of 4.33% from the stock’s previous close.
Other equities analysts have also recently issued research reports about the stock. BidaskClub cut shares of CPB from a “hold” rating to a “sell” rating in a research note on Wednesday, July 12th. Zacks Investment Research cut shares of CPB from a “buy” rating to a “hold” rating in a research note on Monday, July 3rd. One analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $30.38.
CPB (NYSE CPF) opened at 31.15 on Friday. The firm’s 50 day moving average is $31.08 and its 200-day moving average is $31.02. The firm has a market cap of $954.28 million, a price-to-earnings ratio of 19.84 and a beta of 1.16. CPB has a 12 month low of $23.99 and a 12 month high of $33.55.
CPB (NYSE:CPF) last posted its earnings results on Wednesday, April 26th. The financial services provider reported $0.42 earnings per share for the quarter, topping the consensus estimate of $0.40 by $0.02. The firm had revenue of $51.27 million during the quarter, compared to the consensus estimate of $51.10 million. CPB had a net margin of 22.58% and a return on equity of 9.52%. During the same quarter last year, the company earned $0.35 earnings per share. On average, equities analysts forecast that CPB will post $1.64 EPS for the current year.
In other news, Director Earl E. Fry acquired 1,730 shares of CPB stock in a transaction that occurred on Tuesday, June 13th. The stock was bought at an average price of $32.08 per share, with a total value of $55,498.40. Following the completion of the purchase, the director now owns 251 shares in the company, valued at $8,052.08. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last ninety days, insiders have sold 1,500 shares of company stock valued at $47,235. 4.10% of the stock is owned by corporate insiders.
A number of large investors have recently made changes to their positions in CPF. BlackRock Inc. raised its stake in shares of CPB by 12,207.6% in the first quarter. BlackRock Inc. now owns 5,098,913 shares of the financial services provider’s stock valued at $155,721,000 after buying an additional 5,057,484 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of CPB by 3.4% in the first quarter. Vanguard Group Inc. now owns 3,154,860 shares of the financial services provider’s stock valued at $96,350,000 after buying an additional 103,869 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in shares of CPB by 1.1% in the first quarter. Dimensional Fund Advisors LP now owns 1,453,155 shares of the financial services provider’s stock valued at $44,380,000 after buying an additional 15,493 shares during the last quarter. Bank of New York Mellon Corp raised its stake in shares of CPB by 3.0% in the first quarter. Bank of New York Mellon Corp now owns 1,180,023 shares of the financial services provider’s stock valued at $36,038,000 after buying an additional 34,401 shares during the last quarter. Finally, Principal Financial Group Inc. raised its stake in shares of CPB by 6.6% in the first quarter. Principal Financial Group Inc. now owns 1,131,908 shares of the financial services provider’s stock valued at $34,568,000 after buying an additional 69,746 shares during the last quarter. Institutional investors and hedge funds own 92.20% of the company’s stock.
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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