GAMMA Investing LLC Boosts Holdings in CPB Inc. (NYSE:CPF)

GAMMA Investing LLC grew its stake in CPB Inc. (NYSE:CPF - Free Report) by 3,028.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 44,264 shares of the financial services provider's stock after acquiring an additional 42,849 shares during the quarter. GAMMA Investing LLC owned about 0.16% of CPB worth $1,197,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in CPF. Picton Mahoney Asset Management bought a new position in shares of CPB during the 4th quarter worth approximately $30,000. SBI Securities Co. Ltd. purchased a new position in CPB in the fourth quarter worth $31,000. Quantbot Technologies LP acquired a new position in shares of CPB during the fourth quarter worth $55,000. KLP Kapitalforvaltning AS acquired a new position in shares of CPB during the fourth quarter worth $168,000. Finally, Aquatic Capital Management LLC lifted its holdings in shares of CPB by 663.3% during the 4th quarter. Aquatic Capital Management LLC now owns 7,633 shares of the financial services provider's stock valued at $222,000 after purchasing an additional 6,633 shares during the last quarter. 88.42% of the stock is currently owned by hedge funds and other institutional investors.

CPB Stock Up 0.5%

Shares of CPF stock traded up $0.14 during trading hours on Thursday, reaching $25.97. 117,468 shares of the company's stock were exchanged, compared to its average volume of 208,554. CPB Inc. has a 1 year low of $19.89 and a 1 year high of $33.25. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.24. The stock has a market cap of $700.62 million, a PE ratio of 12.13 and a beta of 1.04. The stock's fifty day moving average price is $26.33 and its two-hundred day moving average price is $27.65.

CPB (NYSE:CPF - Get Free Report) last released its earnings results on Wednesday, April 23rd. The financial services provider reported $0.65 EPS for the quarter, topping analysts' consensus estimates of $0.63 by $0.02. CPB had a net margin of 16.76% and a return on equity of 12.65%. The company had revenue of $68.80 million during the quarter, compared to analysts' expectations of $68.93 million. During the same period last year, the business earned $0.48 EPS. Research analysts predict that CPB Inc. will post 2.75 EPS for the current year.

CPB Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Friday, May 30th were paid a dividend of $0.27 per share. The ex-dividend date was Friday, May 30th. This represents a $1.08 annualized dividend and a dividend yield of 4.16%. CPB's payout ratio is currently 50.47%.

Insider Activity

In other CPB news, Director Paul K. Yonamine sold 2,765 shares of CPB stock in a transaction dated 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 now owns 19,711 shares of the company's stock, valued at approximately $518,596.41. The trade was a 12.30% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Agnes Catherine Ngo sold 3,333 shares of the firm's stock in a transaction dated Thursday, June 12th. The stock was sold at an average price of $26.99, for a total value of $89,957.67. Following the completion of the transaction, the director now owns 72,125 shares of the company's stock, valued at approximately $1,946,653.75. The trade was a 4.42% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 9,431 shares of company stock valued at $255,062 over the last ninety days. 2.40% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Separately, Wall Street Zen upgraded CPB from a "sell" rating to a "hold" rating in a research note on Thursday, March 20th.

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.