CPB Inc. $CPF Shares Sold by Connor Clark & Lunn Investment Management Ltd.

Key Points

• Connor Clark & Lunn Investment Management Ltd. sold 17,173 shares of CPB Inc., reducing its ownership by 42.4% to 23,301 shares, valued at $630,000.
• Several institutional investors have increased their stakes in CPB, with Charles Schwab Investment Management acquiring an additional 5,648 shares during the same period.
• CPB recently announced a quarterly dividend of $0.27 per share, with a yield of 3.8%, to be paid on September 15th.

Connor Clark & Lunn Investment Management Ltd. decreased its position in CPB Inc. (NYSE:CPF - Free Report) by 42.4% in the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 23,301 shares of the financial services provider's stock after selling 17,173 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned 0.09% of CPB worth $630,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in CPB during the fourth quarter worth $4,412,000. North Reef Capital Management LP lifted its holdings in CPB by 264.6% during the fourth quarter. North Reef Capital Management LP now owns 188,558 shares of the financial services provider's stock worth $5,478,000 after buying an additional 136,843 shares during the period. Deutsche Bank AG lifted its holdings in CPB by 389.7% during the first quarter. Deutsche Bank AG now owns 132,008 shares of the financial services provider's stock worth $3,569,000 after buying an additional 105,051 shares during the period. LSV Asset Management lifted its holdings in CPB by 10.1% during the first quarter. LSV Asset Management now owns 734,830 shares of the financial services provider's stock worth $19,870,000 after buying an additional 67,300 shares during the period. Finally, Raymond James Financial Inc. purchased a new stake in CPB during the fourth quarter worth $1,712,000. Hedge funds and other institutional investors own 88.42% of the company's stock.

Insider Buying and Selling at CPB

In other news, Director Paul K. Yonamine sold 2,765 shares of the stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $26.31, for a total transaction of $72,747.15. Following the completion of the sale, the director owned 19,711 shares in the company, valued at approximately $518,596.41. This represents a 12.30% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Agnes Catherine Ngo sold 3,333 shares of the stock in a transaction on Tuesday, August 12th. The shares were sold at an average price of $27.87, for a total value of $92,890.71. Following the sale, the director owned 65,459 shares of the company's stock, valued at approximately $1,824,342.33. This represents a 4.85% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 12,764 shares of company stock valued at $352,919. Company insiders own 2.40% of the company's stock.

CPB Stock Up 0.2%

CPB stock traded up $0.06 during mid-day trading on Wednesday, reaching $28.62. 120,006 shares of the company were exchanged, compared to its average volume of 151,071. The business has a fifty day moving average of $27.79 and a 200 day moving average of $27.31. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.85 and a current ratio of 0.85. The firm has a market cap of $772.17 million, a P/E ratio of 12.83 and a beta of 1.07. CPB Inc. has a 12-month low of $23.16 and a 12-month high of $33.25.

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). The company had revenue of $72.81 million for the quarter, compared to analysts' expectations of $71.80 million. CPB had a return on equity of 12.80% and a net margin of 17.31%.During the same quarter in the prior year, the company earned $0.58 EPS. Research analysts anticipate that CPB Inc. will post 2.75 earnings per share for the current fiscal year.

CPB Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Friday, August 29th will be issued a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a dividend yield of 3.8%. CPB's dividend payout ratio is presently 48.43%.

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.