CPB Inc. $CPF Stock Position Raised by Public Sector Pension Investment Board

Key Points

• Public Sector Pension Investment Board increased its stake in CPB Inc. by 26.6%, owning 85,799 shares worth approximately $2.32 million as of the most recent SEC filing.
• CPB Inc. reported $0.67 EPS for the latest quarter, missing estimates by $0.03, despite having revenues of $72.81 million that exceeded expectations.
• The company announced a quarterly dividend of $0.27 per share, resulting in an annualized dividend of $1.08 and a yield of 3.8%, with a payout ratio of 48.43%.

Public Sector Pension Investment Board grew its position in CPB Inc. (NYSE:CPF - Free Report) by 26.6% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 85,799 shares of the financial services provider's stock after purchasing an additional 18,027 shares during the period. Public Sector Pension Investment Board owned approximately 0.32% of CPB worth $2,320,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of CPF. Nuveen LLC acquired a new stake in shares of CPB in the 1st quarter worth approximately $11,382,000. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in shares of CPB in the 4th quarter worth approximately $4,412,000. North Reef Capital Management LP lifted its stake in shares of CPB by 264.6% in the 4th quarter. North Reef Capital Management LP now owns 188,558 shares of the financial services provider's stock worth $5,478,000 after acquiring an additional 136,843 shares during the period. Deutsche Bank AG lifted its stake in shares of CPB by 389.7% in the 1st quarter. Deutsche Bank AG now owns 132,008 shares of the financial services provider's stock worth $3,569,000 after acquiring an additional 105,051 shares during the period. Finally, LSV Asset Management lifted its stake in shares of CPB by 10.1% in the 1st quarter. LSV Asset Management now owns 734,830 shares of the financial services provider's stock worth $19,870,000 after acquiring an additional 67,300 shares during the period. Institutional investors own 88.42% of the company's stock.

CPB Price Performance

NYSE:CPF traded up $0.1420 during trading hours on Monday, reaching $30.9120. 164,390 shares of the company's stock were exchanged, compared to its average volume of 162,869. The company has a market capitalization of $834.01 million, a P/E ratio of 13.86 and a beta of 1.07. CPB Inc. has a 12 month low of $23.16 and a 12 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 business's 50-day simple moving average is $28.01 and its two-hundred day simple moving average is $27.28.

CPB (NYSE:CPF - Get Free Report) last issued 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 business had revenue of $72.81 million for the quarter, compared to the consensus estimate 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 previous year, the business posted $0.58 earnings per share. Sell-side analysts expect that CPB Inc. will post 2.75 EPS for the current fiscal year.

CPB Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Friday, August 29th will be issued a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a yield of 3.5%. CPB's payout ratio is 48.43%.

Wall Street Analyst Weigh In

Separately, Piper Sandler assumed coverage on shares of CPB in a research note on Thursday. They issued an "overweight" rating and a $35.00 price target for the company. One equities research analyst has rated the stock with a Buy rating, According to data from MarketBeat, the company has an average rating of "Buy" and a consensus target price of $35.00.

Insider Buying and Selling

In related news, Director Agnes Catherine Ngo sold 3,333 shares of the firm's stock in a transaction that occurred on Tuesday, August 12th. The shares were sold at an average price of $27.87, for a total transaction of $92,890.71. Following the completion of the sale, the director directly owned 65,459 shares in the company, valued at approximately $1,824,342.33. This trade represents a 4.85% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Paul K. Yonamine sold 2,765 shares of the firm's stock in a transaction that occurred 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 sale, the director owned 19,711 shares of the company's stock, valued at $518,596.41. The trade was a 12.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 12,764 shares of company stock valued at $352,919 over the last 90 days. 2.40% of the stock is currently owned by insiders.

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.