Insider Selling: CPB Inc. (NYSE:CPF) Director Sells 3,333 Shares of Stock

CPB Inc. (NYSE:CPF - Get Free Report) Director Agnes Catherine Ngo sold 3,333 shares of the stock in a transaction on Monday, July 14th. The stock was sold at an average price of $29.20, for a total value of $97,323.60. Following the transaction, the director owned 68,792 shares in the company, valued at $2,008,726.40. The trade was a 4.62% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Agnes Catherine Ngo also recently made the following trade(s):

• On Thursday, June 12th, Agnes Catherine Ngo sold 3,333 shares of CPB stock. The stock was sold at an average price of $26.99, for a total value of $89,957.67.
• On Monday, May 12th, Agnes Catherine Ngo sold 3,333 shares of CPB stock. The stock was sold at an average price of $27.71, for a total value of $92,357.43.

CPB Price Performance

Shares of CPF traded up $0.29 during trading hours on Thursday, hitting $28.76. 25,204 shares of the company were exchanged, compared to its average volume of 204,777. The company has a market cap of $775.81 million, a price-to-earnings ratio of 13.43 and a beta of 1.04. CPB Inc. has a fifty-two week low of $23.16 and a fifty-two week high of $33.25. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.24. The firm's fifty day moving average is $27.42 and its 200 day moving average is $27.40.

CPB (NYSE:CPF - Get Free Report) last released its quarterly earnings data on Wednesday, April 23rd. The financial services provider reported $0.65 earnings per share for the quarter, beating the consensus estimate of $0.63 by $0.02. The business had revenue of $68.80 million for the quarter, compared to analyst estimates of $68.93 million. CPB had a return on equity of 12.65% and a net margin of 16.76%. During the same period last year, the firm posted $0.48 earnings per share. On average, equities analysts anticipate that CPB Inc. will post 2.75 earnings per share for the current fiscal year.

CPB Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Friday, May 30th were paid a $0.27 dividend. This represents a $1.08 annualized dividend and a yield of 3.76%. The ex-dividend date was Friday, May 30th. CPB's dividend payout ratio (DPR) is presently 50.47%.

Institutional Trading of CPB

Several large investors have recently bought and sold shares of the business. Nuveen LLC acquired a new stake in shares of CPB during the first quarter valued at about $11,382,000. Millennium Management LLC boosted its stake in shares of CPB by 433.6% during the first quarter. Millennium Management LLC now owns 293,335 shares of the financial services provider's stock valued at $7,932,000 after purchasing an additional 238,367 shares in the last quarter. ExodusPoint Capital Management LP boosted its stake in shares of CPB by 342.0% during the fourth quarter. ExodusPoint Capital Management LP now owns 277,664 shares of the financial services provider's stock valued at $8,066,000 after purchasing an additional 214,840 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in shares of CPB by 36.6% during the fourth quarter. JPMorgan Chase & Co. now owns 589,609 shares of the financial services provider's stock valued at $17,128,000 after purchasing an additional 158,111 shares in the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in shares of CPB during the fourth quarter valued at about $4,412,000. 88.42% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, Wall Street Zen raised CPB from a "sell" rating to a "hold" rating in a report on Thursday, March 20th.

About CPB

Central Pacific Financial Corp. operates as the bank holding company for Central Pacific Bank that provides a range of commercial banking products and services to businesses, professionals, and individuals in the United States. It offers various deposit products and services, including checking, savings and time deposits, cash management and digital banking, trust, and retail brokerage services, as well as money market accounts and certificates of deposit.