Hsbc Holdings PLC Lowers Stock Holdings in CPB Inc. $CPF

Key Points

• Hsbc Holdings PLC has reduced its stake in CPB Inc. by 48.0%, leaving it with 13,830 shares worth approximately $374,000 as of the latest filing.
• Several large investors, including Deutsche Bank AG and Jane Street Group LLC, have increased their holdings in CPB, with Deutsche Bank's stake growing by 389.7%.
• CPB has recently declared a quarterly dividend of $0.27 per share, translating to an annual yield of 3.5%.

Hsbc Holdings PLC cut its holdings in CPB Inc. (NYSE:CPF - Free Report) by 48.0% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 13,830 shares of the financial services provider's stock after selling 12,745 shares during the quarter. Hsbc Holdings PLC owned 0.05% of CPB worth $374,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of CPF. MetLife Investment Management LLC boosted its stake in CPB by 9.4% during the fourth quarter. MetLife Investment Management LLC now owns 16,676 shares of the financial services provider's stock worth $484,000 after buying an additional 1,430 shares during the period. Price T Rowe Associates Inc. MD lifted its position in shares of CPB by 18.2% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 10,331 shares of the financial services provider's stock worth $301,000 after purchasing an additional 1,589 shares during the last quarter. Tudor Investment Corp ET AL bought a new stake in shares of CPB during the fourth quarter worth $1,044,000. Northern Trust Corp lifted its position in shares of CPB by 4.5% during the fourth quarter. Northern Trust Corp now owns 352,982 shares of the financial services provider's stock worth $10,254,000 after purchasing an additional 15,243 shares during the last quarter. Finally, Jane Street Group LLC lifted its position in shares of CPB by 48.7% during the fourth quarter. Jane Street Group LLC now owns 60,153 shares of the financial services provider's stock worth $1,747,000 after purchasing an additional 19,690 shares during the last quarter. 88.42% of the stock is owned by hedge funds and other institutional investors.

CPB Stock Down 1.0%

CPB stock traded down $0.33 during trading hours on Friday, reaching $31.14. The stock had a trading volume of 172,424 shares, compared to its average volume of 156,537. The company has a market cap of $840.05 million, a price-to-earnings ratio of 13.96 and a beta of 1.11. The company has a debt-to-equity ratio of 0.29, a current ratio of 0.85 and a quick ratio of 0.85. The business's 50 day moving average price is $28.83 and its 200-day moving average price is $27.42. CPB Inc. has a 52 week low of $23.16 and a 52 week high of $33.25.

CPB (NYSE:CPF - Get Free Report) last issued its quarterly 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). CPB had a return on equity of 12.80% and a net margin of 17.31%.The business had revenue of $72.81 million for the quarter, compared to analysts' expectations of $71.80 million. During the same quarter in the previous year, the firm posted $0.58 EPS. Sell-side analysts anticipate that CPB Inc. will post 2.75 EPS for the current year.

CPB Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Friday, August 29th will be issued a $0.27 dividend. The ex-dividend date of this dividend is Friday, August 29th. This represents a $1.08 dividend on an annualized basis and a yield of 3.5%. CPB's payout ratio is presently 48.43%.

Wall Street Analysts Forecast Growth

Separately, Piper Sandler assumed coverage on CPB in a research report on Thursday, August 21st. They set an "overweight" rating and a $35.00 target price for the company. One research analyst has rated the stock with a Buy rating, According to MarketBeat.com, the company has a consensus rating of "Buy" and a consensus price target of $35.00.

Insider Buying and Selling

In other CPB news, Director Agnes Catherine Ngo sold 3,333 shares of the business's stock in a transaction that occurred on Tuesday, August 12th. The stock was sold at an average price of $27.87, for a total value of $92,890.71. Following the completion of the transaction, the director directly owned 65,459 shares of the company's stock, valued at approximately $1,824,342.33. The trade was a 4.85% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Paul Kosasa sold 923 shares of the company's stock in a transaction that occurred on Thursday, August 14th. The stock was sold at an average price of $28.62, for a total value of $26,416.26. The disclosure for this sale can be found here. Insiders sold 10,922 shares of company stock valued at $306,588 over the last three months. 2.40% of the stock is currently owned by corporate insiders.

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.