Schwab Charles Investment Management Inc. Boosts Stake in CPB Inc. (CPF)

Schwab Charles Investment Management Inc. increased its position in CPB Inc. (NYSE:CPF) by 26.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 173,780 shares of the financial services provider’s stock after buying an additional 36,079 shares during the period. Schwab Charles Investment Management Inc. owned 0.57% of CPB worth $5,308,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of CPF. State of Alaska Department of Revenue increased its position in 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 in the last quarter. BNP Paribas Arbitrage SA increased its position in 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 in the last quarter. Mason Street Advisors LLC increased its position in 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 in the last quarter. 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. Finally, 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. 92.90% of the stock is currently owned by institutional investors.

Shares of CPB Inc. (NYSE:CPF) opened at 29.11 on Friday. The firm has a market capitalization of $886.08 million, a price-to-earnings ratio of 18.54 and a beta of 1.15. The company’s 50-day moving average is $30.81 and its 200-day moving average is $30.98. CPB Inc. has a 12-month low of $24.46 and a 12-month high of $33.55.

CPB (NYSE:CPF) last released its quarterly earnings results on Wednesday, July 26th. The financial services provider reported $0.39 EPS for the quarter, missing the Zacks’ 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 during the quarter, compared to the consensus estimate of $51.40 million. During the same period in the prior year, the business earned $0.39 EPS. On average, equities analysts forecast that CPB Inc. will post $1.64 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Thursday, August 31st will be given a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 2.47%. The ex-dividend date of this dividend is Tuesday, August 29th. CPB’s dividend payout ratio is 45.86%.

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Several equities research analysts have recently issued reports on the stock. Zacks Investment Research lowered shares of CPB from a “buy” rating to a “hold” rating in a research report on Monday, July 3rd. Piper Jaffray Companies reissued a “hold” rating and issued a $32.50 price objective on shares of CPB in a research report on Friday, July 14th. Finally, BidaskClub lowered shares of CPB from a “hold” rating to a “sell” rating in a research report on Wednesday, July 12th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and one has given 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 Paul K. Yonamine purchased 1,400 shares of the company’s stock in a transaction dated Tuesday, August 1st. The shares were bought at an average price of $30.98 per share, with a total value of $43,372.00. Following the completion of the transaction, the director now directly owns 1,400 shares in the company, valued at approximately $43,372. The purchase was disclosed in a filing with the SEC, which is available through this link. Also, Director Earl E. Fry bought 1,730 shares of the company’s stock in a transaction that occurred on Tuesday, June 13th. The shares were bought at an average cost of $32.08 per share, for a total transaction of $55,498.40. Following the transaction, the director now directly owns 251 shares of the company’s stock, valued at approximately $8,052.08. The disclosure for this purchase can be found here. Company 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.

Institutional Ownership by Quarter for CPB (NYSE:CPF)

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