Deutsche Bank AG Boosts Stake in CPB Inc. $CPF

Key Points

• Deutsche Bank AG significantly increased its stake in CPB Inc. by 389.7% during the 1st quarter, owning 132,008 shares valued at approximately $3.57 million.
• CPB Inc. recently reported earnings per share of $0.67 for the quarter, missing analysts' expectations of $0.70, despite generating $72.81 million in revenue.
• The company declared a quarterly dividend of $0.27 per share, representing an annualized yield of 3.8%, with a dividend payout ratio of 48.43%.

Deutsche Bank AG grew its holdings in shares of CPB Inc. (NYSE:CPF - Free Report) by 389.7% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 132,008 shares of the financial services provider's stock after acquiring an additional 105,051 shares during the period. Deutsche Bank AG owned about 0.49% of CPB worth $3,569,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently bought and sold shares of CPF. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in CPB in the 4th quarter worth $4,412,000. North Reef Capital Management LP boosted its holdings in 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 buying an additional 136,843 shares during the period. LSV Asset Management boosted its holdings in shares of CPB by 10.1% during the 1st quarter. LSV Asset Management now owns 734,830 shares of the financial services provider's stock valued at $19,870,000 after purchasing an additional 67,300 shares during the last quarter. Raymond James Financial Inc. bought a new position in shares of CPB during the 4th quarter valued at about $1,712,000. Finally, Cubist Systematic Strategies LLC bought a new position in shares of CPB during the 4th quarter valued at about $1,420,000. Institutional investors own 88.42% of the company's stock.

CPB Price Performance

Shares of CPF traded up $1.3140 during midday trading on Friday, hitting $30.7240. 263,520 shares of the company traded hands, compared to its average volume of 157,553. The firm has a 50 day moving average of $27.92 and a 200-day moving average of $27.29. CPB Inc. has a 52 week low of $23.16 and a 52 week high of $33.25. The stock has a market cap of $828.93 million, a price-to-earnings ratio of 13.78 and a beta of 1.07. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.85 and a current ratio of 0.85.

CPB (NYSE:CPF - Get Free Report) last announced its earnings results on Friday, July 25th. The financial services provider reported $0.67 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.70 by ($0.03). The business had revenue of $72.81 million for the quarter, compared to analysts' expectations 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 prior year, the company posted $0.58 earnings per share. On average, analysts forecast 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. Stockholders of record on Friday, August 29th will be given a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a dividend yield of 3.5%. CPB's dividend payout ratio is 48.43%.

Wall Street Analysts Forecast Growth

Separately, Piper Sandler initiated coverage on shares of CPB in a report on Thursday. They set an "overweight" rating and a $35.00 price objective for the company. One investment analyst has rated the stock with a Buy rating, Based on data from MarketBeat, the company has a consensus rating of "Buy" and an average target price of $35.00.

Insider Activity

In other news, Director Paul K. Yonamine sold 2,765 shares of the company's stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $26.31, for a total transaction of $72,747.15. Following the sale, the director directly 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 filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Agnes Catherine Ngo sold 3,333 shares of the company's stock in a transaction dated Tuesday, August 12th. The shares were sold at an average price of $27.87, for a total transaction of $92,890.71. Following the sale, the director owned 65,459 shares in the company, valued at $1,824,342.33. This represents a 4.85% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 12,764 shares of company stock worth $352,919 over the last 90 days. Corporate insiders own 2.40% of the company's stock.

CPB 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.