CPB (NYSE:CPF) Given Buy (B-) Rating at Weiss Ratings

Key Points

• CPB (NYSE:CPF) has been given a "buy (B-)" rating by Weiss Ratings, reflecting positive outlook from analysts.
• The stock currently has an average price target of $34.50 and a consensus rating of "Moderate Buy", with brokerage coverage from firms like Piper Sandler and Keefe, Bruyette & Woods.
• Insider transactions included notable sales by directors, with a total of 7,589 shares sold over the last quarter, indicating potential shifts in insider sentiment.

CPB (NYSE:CPF - Get Free Report)'s stock had its "buy (b-)" rating reiterated by research analysts at Weiss Ratings in a research note issued on Friday,Weiss Ratings reports.

Several other brokerages have also issued reports on CPF. Piper Sandler assumed coverage on shares of CPB in a report on Thursday, August 21st. They issued an "overweight" rating and a $35.00 price target on the stock. Keefe, Bruyette & Woods started coverage on CPB in a research report on Wednesday, October 8th. They issued a "market perform" rating and a $34.00 price objective for the company. Two investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, CPB presently has a consensus rating of "Moderate Buy" and an average price target of $34.50.

CPB Stock Performance

CPF traded up $0.62 during trading on Friday, reaching $29.43. 89,606 shares of the company were exchanged, compared to its average volume of 130,315. CPB has a 52 week low of $23.16 and a 52 week high of $33.25. The stock has a market cap of $793.89 million, a P/E ratio of 13.20 and a beta of 1.06. The firm has a 50 day moving average of $30.12 and a 200 day moving average of $28.07. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.29.

CPB (NYSE:CPF - Get Free Report) last issued its earnings results on Monday, March 10th. The financial services provider reported $0.58 earnings per share for the quarter. CPB had a net margin of 17.31% and a return on equity of 12.80%. The firm had revenue of $66.59 million during the quarter. On average, sell-side analysts forecast that CPB will post 2.75 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Paul Kosasa sold 923 shares of CPB stock in a transaction 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 document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Agnes Catherine Ngo sold 3,333 shares of CPB stock in a transaction on 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 sale, the director directly owned 60,514 shares of the company's stock, valued at approximately $1,855,359.24. The trade was a 5.22% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 7,589 shares of company stock valued at $221,497. 2.40% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On CPB

A number of large investors have recently added to or reduced their stakes in CPF. Summit Global Investments increased its stake in CPB by 2.5% in the 2nd quarter. Summit Global Investments now owns 18,885 shares of the financial services provider's stock worth $529,000 after purchasing an additional 458 shares during the period. Twin Lakes Capital Management LLC raised its position in CPB by 0.3% during the 1st quarter. Twin Lakes Capital Management LLC now owns 185,657 shares of the financial services provider's stock valued at $5,020,000 after purchasing an additional 480 shares during the last quarter. SummerHaven Investment Management LLC lifted its holdings in CPB by 1.5% in the 2nd quarter. SummerHaven Investment Management LLC now owns 36,558 shares of the financial services provider's stock worth $1,025,000 after buying an additional 547 shares during the period. CWM LLC grew its position 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 worth $116,000 after buying an additional 639 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of CPB by 4.4% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,849 shares of the financial services provider's stock valued at $429,000 after buying an additional 670 shares during the period. 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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