CPB (NYSE:CPF) Stock Price Crosses Above 200 Day Moving Average - Should You Sell?

Key Points

• CPB Inc. (NYSE:CPF) shares crossed above their 200-day moving average of $27.82, trading at $30.55 with substantial volume, indicating potential bullish momentum.
• Multiple analysts have given CPB an average rating of "Buy" with a target price set at $35.00, reflecting optimistic growth expectations.
• The company recently announced a quarterly dividend of $0.27 per share, which equates to an annual yield of 3.5% and a payout ratio of 48.43%.

CPB Inc. (NYSE:CPF - Get Free Report)'s stock price crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $27.82 and traded as high as $31.05. CPB shares last traded at $30.55, with a volume of 177,741 shares.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. Piper Sandler started coverage on shares of CPB in a research note on Thursday, August 21st. They set an "overweight" rating and a $35.00 target price for the company. Weiss Ratings reaffirmed a "buy (b-)" rating on shares of CPB in a report on Saturday, September 27th. Two investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat, CPB has an average rating of "Buy" and an average price target of $35.00.

CPB Price Performance

The firm has a market capitalization of $824.24 million, a P/E ratio of 13.70 and a beta of 1.06. The business's fifty day moving average is $29.60 and its 200 day moving average is $27.82. 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 released its quarterly 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 analyst estimates of $71.80 million. During the same quarter last year, the business earned $0.58 EPS. As a group, analysts forecast that CPB Inc. will post 2.75 EPS for the current year.

CPB Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Friday, August 29th were given a $0.27 dividend. The ex-dividend date was Friday, August 29th. This represents a $1.08 dividend on an annualized basis and a yield of 3.5%. CPB's dividend payout ratio is presently 48.43%.

Insiders Place Their Bets

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

Institutional Trading of CPB

A number of institutional investors and hedge funds have recently modified their holdings of CPF. Summit Global Investments raised its position in CPB by 2.5% in the second 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 in the last quarter. Twin Lakes Capital Management LLC grew its stake in shares of CPB by 0.3% in 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 period. SummerHaven Investment Management LLC raised its holdings in shares of CPB by 1.4% in the 1st quarter. SummerHaven Investment Management LLC now owns 36,011 shares of the financial services provider's stock worth $974,000 after buying an additional 482 shares in the last quarter. CWM LLC lifted its position in shares of CPB by 17.5% during 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 period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in 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 worth $429,000 after acquiring an additional 670 shares in the last quarter. 88.42% of the stock is currently owned by institutional investors.

CPB Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.