Bank of Montreal Can lowered its position in CPB Inc. (NYSE:CPF) by 9.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 93,394 shares of the financial services provider’s stock after selling 9,442 shares during the period. Bank of Montreal Can owned approximately 0.30% of CPB worth $2,939,000 as of its most recent SEC filing.
Several other institutional investors have also recently modified their holdings of CPF. BlackRock Inc. raised its position 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 worth $155,721,000 after buying an additional 5,057,484 shares during the last quarter. State Street Corp raised its stake in CPB by 18.2% in the first quarter. State Street Corp now owns 994,439 shares of the financial services provider’s stock worth $30,364,000 after buying an additional 152,838 shares during the last quarter. Vanguard Group Inc. raised its stake in CPB by 3.4% in the first quarter. Vanguard Group Inc. now owns 3,154,860 shares of the financial services provider’s stock worth $96,350,000 after buying an additional 103,869 shares during the last quarter. Principal Financial Group Inc. raised its stake in 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 worth $34,568,000 after buying an additional 69,746 shares during the last quarter. Finally, AQR Capital Management LLC raised its stake in CPB by 19.0% in the first quarter. AQR Capital Management LLC now owns 352,981 shares of the financial services provider’s stock worth $10,780,000 after buying an additional 56,330 shares during 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. CPB Inc. has a 52-week low of $24.46 and a 52-week high of $33.55. The stock has a market capitalization of $886.08 million, a price-to-earnings ratio of 18.54 and a beta of 1.15. The company has a 50-day moving average price of $30.81 and a 200-day moving average price of $30.98.
CPB (NYSE:CPF) last announced its quarterly earnings data on Wednesday, July 26th. The financial services provider reported $0.39 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.40 by $0.01. The company had revenue of $49.50 million for 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 previous year, the firm posted $0.39 EPS. On average, equities analysts anticipate that CPB Inc. will post $1.64 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Thursday, August 31st will be paid a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 2.47%. The ex-dividend date of this dividend is Tuesday, August 29th. CPB’s payout ratio is 45.86%.
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A number of equities research analysts recently commented on the company. Zacks Investment Research lowered CPB from a “buy” rating to a “hold” rating in a research report on Monday, July 3rd. BidaskClub lowered CPB from a “hold” rating to a “sell” rating in a research report on Wednesday, July 12th. Finally, Piper Jaffray Companies reissued a “hold” rating and issued a $32.50 price target on shares of CPB in a research report on Friday, July 14th. Two analysts have rated the stock with a sell rating, two have issued a hold rating and one has issued a buy rating to the company’s stock. CPB has a consensus rating of “Hold” and an average price target of $31.83.
In other CPB news, Director Earl E. Fry purchased 1,730 shares of the firm’s stock in a transaction dated Tuesday, June 13th. The stock was purchased at an average price of $32.08 per share, for a total transaction of $55,498.40. Following the completion of the purchase, the director now directly owns 251 shares of the company’s stock, valued at $8,052.08. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Paul K. Yonamine purchased 1,400 shares of the firm’s stock in a transaction dated Tuesday, August 1st. The stock was acquired at an average price of $30.98 per share, with a total value of $43,372.00. Following the purchase, 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. 4.10% of the stock is currently owned by 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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