Assenagon Asset Management S.A. Takes Position in CPB Inc. $CPF

Assenagon Asset Management S.A. acquired a new stake in shares of CPB Inc. (NYSE:CPF - Free Report) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 49,760 shares of the financial services provider's stock, valued at approximately $1,395,000. Assenagon Asset Management S.A. owned about 0.18% of CPB at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Quantbot Technologies LP boosted its holdings in CPB by 114.1% in the first quarter. Quantbot Technologies LP now owns 4,027 shares of the financial services provider's stock valued at $109,000 after purchasing an additional 2,146 shares during the last quarter. CKW Financial Group boosted its holdings in CPB by 40.9% in the first quarter. CKW Financial Group now owns 4,022 shares of the financial services provider's stock valued at $109,000 after purchasing an additional 1,168 shares during the last quarter. CWM LLC boosted its holdings in CPB by 17.5% in the first 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 during the last quarter. ProShare Advisors LLC purchased a new stake in CPB in the fourth quarter valued at $234,000. Finally, Royal Bank of Canada boosted its holdings in CPB by 15.8% in the first quarter. Royal Bank of Canada now owns 9,131 shares of the financial services provider's stock valued at $247,000 after purchasing an additional 1,245 shares during the last quarter. 88.42% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, Piper Sandler began 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. One analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average price target of $35.00.

CPB Stock Up 0.5%

CPF opened at $30.70 on Friday. CPB Inc. has a twelve month low of $23.16 and a twelve month high of $33.25. 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 company has a 50-day moving average price of $29.33 and a 200 day moving average price of $27.67. The company has a market cap of $828.18 million, a PE ratio of 13.76 and a beta of 1.11.

CPB (NYSE:CPF - Get Free Report) last released its quarterly earnings data on Friday, July 25th. The financial services provider reported $0.67 EPS for the quarter, missing analysts' consensus estimates of $0.70 by ($0.03). The business had revenue of $72.81 million during the quarter, compared to analyst estimates of $71.80 million. CPB had a net margin of 17.31% and a return on equity of 12.80%. During the same quarter in the previous year, the company posted $0.58 EPS. Sell-side analysts expect 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, September 15th. Shareholders of record on Friday, August 29th were issued 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%.

Insider Transactions at CPB

In other CPB news, Director Agnes Catherine Ngo sold 3,333 shares of the stock in a transaction dated Friday, September 12th. The shares were sold at an average price of $30.66, for a total value of $102,189.78. Following the completion of the sale, the director owned 60,514 shares in the company, valued at approximately $1,855,359.24. This represents a 5.22% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Paul Kosasa sold 923 shares of the stock in a transaction dated Thursday, August 14th. The shares were sold at an average price of $28.62, for a total transaction of $26,416.26. The disclosure for this sale can be found here. In the last quarter, insiders sold 10,922 shares of company stock valued at $318,820. 2.40% of the stock is owned by insiders.

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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