CPB (NYSE:CPF) Earns "Buy (B-)" Rating from Weiss Ratings

Key Points

• CPB's stock has been given a "Buy (B-)" rating by Weiss Ratings, reflecting positive analyst sentiment.
• The stock's average target price is $34.50, with a current trading price around $29.68.
• Insiders recently sold a total of 10,922 shares of CPB, indicating potential changes in ownership stakes.

CPB (NYSE:CPF - Get Free Report)'s stock had its "buy (b-)" rating reissued by equities research analysts at Weiss Ratings in a research report issued to clients and investors on Wednesday,Weiss Ratings reports.

A number of other research analysts have also recently weighed in on CPF. Keefe, Bruyette & Woods assumed coverage on shares of CPB in a report on Wednesday. They issued a "market perform" rating and a $34.00 price objective for the company. Piper Sandler started coverage on shares of CPB in a report on Thursday, August 21st. They issued an "overweight" rating and a $35.00 price objective on the stock. Two equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to MarketBeat, CPB has a consensus rating of "Moderate Buy" and an average target price of $34.50.

CPB Price Performance

Shares of NYSE:CPF traded down $0.62 during trading on Wednesday, reaching $29.68. 142,874 shares of the company traded hands, compared to its average volume of 153,823. CPB has a 52 week low of $23.16 and a 52 week high of $33.25. The company's 50 day moving average is $29.72 and its two-hundred day moving average is $27.85. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.29. The firm has a market capitalization of $800.77 million, a PE ratio of 13.31 and a beta of 1.06.

CPB (NYSE:CPF - Get Free Report) last posted its earnings results on Friday, July 25th. The financial services provider reported $0.67 earnings per share for the quarter, missing analysts' consensus estimates of $0.70 by ($0.03). CPB had a net margin of 17.31% and a return on equity of 12.80%. The company had revenue of $72.81 million during the quarter, compared to the consensus estimate of $71.80 million. During the same quarter in the prior year, the business earned $0.58 EPS. As a group, sell-side analysts predict that CPB will post 2.75 earnings per share for the current year.

Insider Transactions at CPB

In related news, Director Paul Kosasa sold 923 shares of the business's stock in a transaction that occurred on Thursday, August 14th. The shares were sold at an average price of $28.62, for a total value of $26,416.26. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Agnes Catherine Ngo sold 3,333 shares of the firm's stock in a transaction dated Friday, September 12th. The shares were sold at an average price of $30.66, for a total transaction of $102,189.78. Following the completion of the transaction, the director directly owned 60,514 shares in the company, valued at $1,855,359.24. This trade represents a 5.22% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 10,922 shares of company stock valued at $318,820. Insiders own 2.40% of the company's stock.

Hedge Funds Weigh In On CPB

A number of institutional investors have recently added to or reduced their stakes in CPF. Summit Global Investments raised its stake in CPB by 2.5% during the 2nd quarter. Summit Global Investments now owns 18,885 shares of the financial services provider's stock valued at $529,000 after purchasing an additional 458 shares during the period. Twin Lakes Capital Management LLC increased its position in shares of CPB by 0.3% during the first quarter. Twin Lakes Capital Management LLC now owns 185,657 shares of the financial services provider's stock worth $5,020,000 after buying an additional 480 shares during the period. SummerHaven Investment Management LLC raised its position in CPB by 1.4% in the first quarter. SummerHaven Investment Management LLC now owns 36,011 shares of the financial services provider's stock worth $974,000 after acquiring an additional 482 shares during the period. CWM LLC boosted its stake in shares of CPB by 17.5% in the 1st quarter. CWM LLC now owns 4,285 shares of the financial services provider's stock valued at $116,000 after purchasing an additional 639 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in CPB by 4.4% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,849 shares of the financial services provider's stock valued at $429,000 after purchasing an additional 670 shares during the last quarter. Hedge funds and other institutional investors own 88.42% of the company's stock.

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.

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