CPB Inc. (NYSE:CPF) Stock Has Average Target Price of $39.00

Key Points

• CPB has a “Moderate Buy” consensus rating from six analysts, split evenly between buy and hold ratings, with an average 12-month price target of $39.00.
• CPB’s shares opened at $37.62, near the analyst target, with a market capitalization of approximately $968.8 million and a one-year trading range of $28.09 to $40.99.
• The company exceeded quarterly expectations, reporting $0.80 EPS versus the $0.78 consensus and revenue of $77.45 million versus $75.69 million expected; institutional investors own 88.42% of the stock.

Shares of CPB Inc. (NYSE:CPF - Get Free Report) have earned a consensus rating of "Moderate Buy" from the six research firms that are currently covering the stock, Marketbeat Ratings reports. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $39.00.

A number of research firms have recently weighed in on CPF. Hovde Group initiated coverage on shares of CPB in a research report on Friday, October 2nd. They set a "market perform" rating and a $38.00 target price for the company. Weiss Ratings lowered CPB from a "buy (a-)" rating to a "buy (b+)" rating in a report on Thursday, October 8th. Benchmark began coverage on CPB in a research report on Thursday, July 9th. They issued a "buy" rating and a $44.00 target price for the company. Finally, Zacks Research lowered CPB from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, August 26th.

CPB Stock Performance

NYSE CPF opened at $37.62 on Tuesday. The company has a fifty day moving average price of $37.01 and a 200-day moving average price of $35.27. The firm has a market cap of $968.84 million, a price-to-earnings ratio of 12.06 and a beta of 0.87. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.84 and a quick ratio of 0.84. CPB has a 1 year low of $28.09 and a 1 year high of $40.99.

CPB (NYSE:CPF - Get Free Report) last issued its quarterly earnings data on Friday, July 24th. The financial services provider reported $0.80 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.78 by $0.02. The business had revenue of $77.45 million during the quarter, compared to the consensus estimate of $75.69 million. CPB had a net margin of 22.52% and a return on equity of 14.20%. During the same period in the prior year, the firm posted $0.67 EPS. As a group, equities research analysts predict that CPB will post 3.32 EPS for the current fiscal year.

Institutional Investors Weigh In On CPB

A number of institutional investors and hedge funds have recently modified their holdings of CPF. Bank of New York Mellon Corp bought a new position in shares of CPB in the second quarter worth approximately $11,926,000. Arrowstreet Capital Limited Partnership lifted its position in CPB by 3.3% during the first quarter. Arrowstreet Capital Limited Partnership now owns 247,848 shares of the financial services provider's stock valued at $7,921,000 after purchasing an additional 7,967 shares during the last quarter. Principal Financial Group Inc. lifted its position in CPB by 27.1% during the first quarter. Principal Financial Group Inc. now owns 162,431 shares of the financial services provider's stock valued at $5,191,000 after purchasing an additional 34,591 shares during the last quarter. Empowered Funds LLC grew its stake in CPB by 8.5% in the 1st quarter. Empowered Funds LLC now owns 130,087 shares of the financial services provider's stock worth $4,158,000 after buying an additional 10,198 shares in the last quarter. Finally, First Trust Advisors LP increased its holdings in shares of CPB by 11.5% in the 1st quarter. First Trust Advisors LP now owns 112,143 shares of the financial services provider's stock worth $3,584,000 after buying an additional 11,575 shares during the last quarter. 88.42% of the stock is owned by hedge funds and other institutional investors.

About CPB

Central Pacific Financial Corp. is the bank holding company for Central Pacific Bank, a community-focused financial institution headquartered in Honolulu, Hawaii. Central Pacific Bank serves consumers, businesses, nonprofit organizations and government entities, with a focus on customers throughout the Hawaiian Islands.

The bank provides a range of financial products and services, including checking and savings accounts, certificates of deposit, consumer lending, residential mortgages, commercial and small-business loans, commercial real estate financing, and treasury management services.

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