UBS Group AG raised its position in shares of CPB Inc. (NYSE:CPF) by 275.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 21,862 shares of the financial services provider’s stock after buying an additional 16,036 shares during the period. UBS Group AG owned 0.07% of CPB worth $668,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently modified their holdings of CPF. State of Alaska Department of Revenue increased its position 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 last quarter. BNP Paribas Arbitrage SA increased its position in shares of CPB by 11.2% in the first quarter. BNP Paribas Arbitrage SA now owns 6,233 shares of the financial services provider’s stock worth $190,000 after buying an additional 630 shares during the last quarter. Mason Street Advisors LLC increased its position in shares of CPB by 6.8% in the first quarter. Mason Street Advisors LLC now owns 7,196 shares of the financial services provider’s stock worth $220,000 after buying an additional 459 shares during the last quarter. Sei Investments Co. increased its position in shares of 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 during the last quarter. Finally, Louisiana State Employees Retirement System increased its stake 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 valued at $382,000 after buying an additional 100 shares in the last quarter. 92.74% of the stock is currently owned by hedge funds and other institutional investors.
Shares of CPB Inc. (CPF) opened at 29.20 on Friday. The firm’s 50-day moving average is $31.06 and its 200 day moving average is $31.05. CPB Inc. has a 52 week low of $24.46 and a 52 week high of $33.55. The firm has a market capitalization of $888.82 million, a PE ratio of 18.60 and a beta of 1.15.
CPB (NYSE:CPF) last announced its earnings results on Wednesday, July 26th. The financial services provider reported $0.39 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.40 by $0.01. The business had revenue of $49.50 million for the quarter, compared to analysts’ expectations of $51.40 million. CPB had a return on equity of 9.52% and a net margin of 22.59%. During the same quarter last year, the business posted $0.39 earnings per share. On average, equities analysts forecast that CPB Inc. will post $1.64 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Thursday, August 31st will be issued a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a dividend yield of 2.47%. The ex-dividend date is Tuesday, August 29th. CPB’s dividend payout ratio is presently 45.86%.
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Several analysts have weighed in on the stock. BidaskClub downgraded shares of CPB from a “hold” rating to a “sell” rating in a research report on Wednesday, July 12th. Zacks Investment Research downgraded shares of CPB from a “buy” rating to a “hold” rating in a research report on Monday, July 3rd. Finally, Piper Jaffray Companies reissued a “hold” rating and set a $32.50 target price 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 stock. The company currently has an average rating of “Hold” and a consensus price target of $31.83.
In related news, Director Paul K. Yonamine purchased 1,400 shares of the firm’s stock in a transaction that occurred on Tuesday, August 1st. The stock was purchased at an average cost of $30.98 per share, with a total value of $43,372.00. Following the completion of the acquisition, the director now directly owns 1,400 shares in the company, valued at $43,372. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Earl E. Fry bought 1,730 shares of CPB stock in a transaction on Tuesday, June 13th. The stock was acquired at an average cost of $32.08 per share, with a total value of $55,498.40. Following the acquisition, the director now owns 251 shares of the company’s stock, valued at approximately $8,052.08. The disclosure for this purchase can be found here. 4.10% of the stock is owned by company insiders.
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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