UBS Group AG increased its stake in shares of CPB Inc. (NYSE:CPF) by 275.2% during the first quarter, according to its most recent filing with the SEC. The fund 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 as of its most recent filing with the SEC.
A number of other institutional investors also recently modified their holdings of CPF. State of Alaska Department of Revenue raised its stake 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 valued at $103,000 after buying an additional 50 shares during the period. BNP Paribas Arbitrage SA raised its stake 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 valued at $190,000 after buying an additional 630 shares during the period. Mason Street Advisors LLC raised its stake 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 valued at $220,000 after buying an additional 459 shares during the period. Sei Investments Co. raised its stake 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 valued at $306,000 after buying an additional 440 shares during the period. Finally, Louisiana State Employees Retirement System raised its stake in shares of 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 during the period. Institutional investors and hedge funds own 92.90% of the company’s stock.
Shares of CPB Inc. (NYSE CPF) traded up 0.62% during mid-day trading on Friday, hitting $29.11. The stock had a trading volume of 99,432 shares. The company has a market cap of $886.08 million, a PE ratio of 18.54 and a beta of 1.15. The stock’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 analysts’ consensus estimates of $0.40 by $0.01. CPB had a return on equity of 9.52% and a net margin of 22.59%. The firm had revenue of $49.50 million for the quarter, compared to analyst estimates of $51.40 million. During the same quarter last year, the company earned $0.39 earnings per share. On average, equities research 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. 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 is Tuesday, August 29th. CPB’s dividend payout ratio (DPR) is 45.86%.
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CPF has been the subject of several analyst reports. Zacks Investment Research upgraded CPB from a “hold” rating to a “buy” rating and set a $35.00 target price for the company in a research note on Friday, June 9th. Piper Jaffray Companies restated a “hold” rating and issued a $32.50 target price on shares of CPB in a research note on Friday, July 14th. Finally, BidaskClub downgraded CPB from a “sell” rating to a “strong sell” rating in a research note on Friday, July 28th. Two analysts have rated the stock with a sell rating, two have given a hold rating and one has assigned a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $31.83.
In other CPB news, 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 purchased at an average price of $32.08 per share, with a total value of $55,498.40. Following the completion of the acquisition, the director now directly owns 251 shares of the company’s stock, valued at approximately $8,052.08. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Paul K. Yonamine bought 1,400 shares of the company’s stock in a transaction that occurred on Tuesday, August 1st. The stock was acquired at an average cost of $30.98 per share, for a total transaction of $43,372.00. Following the acquisition, 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 owned by corporate 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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