CPB Inc. (NYSE:CPF) Shares Acquired by LSV Asset Management

Key Points

• LSV Asset Management increased its ownership in CPB Inc. by 10.1%, purchasing an additional 67,300 shares, raising its total holdings to 734,830 shares valued at approximately $19.87 million.
• CPB Inc. reported a quarterly earnings per share (EPS) of $0.67, falling short of the estimated $0.70, while revenue was $72.81 million, exceeding expectations.
• The company declared a quarterly dividend of $0.27 to be paid on September 15th, providing a dividend yield of 4.1% based on an annualized payout of $1.08.

LSV Asset Management grew its holdings in shares of CPB Inc. (NYSE:CPF - Free Report) by 10.1% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 734,830 shares of the financial services provider's stock after purchasing an additional 67,300 shares during the period. LSV Asset Management owned approximately 2.72% of CPB worth $19,870,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Jane Street Group LLC boosted its holdings in CPB by 48.7% in 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. Mirae Asset Global Investments Co. Ltd. boosted its holdings in CPB by 12.6% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 22,056 shares of the financial services provider's stock worth $594,000 after purchasing an additional 2,468 shares during the last quarter. Nuveen Asset Management LLC boosted its holdings in CPB by 3.3% in the fourth quarter. Nuveen Asset Management LLC now owns 421,317 shares of the financial services provider's stock worth $12,239,000 after purchasing an additional 13,406 shares during the last quarter. Northern Trust Corp boosted its holdings in CPB by 4.5% in 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, GAMMA Investing LLC boosted its holdings in CPB by 3,028.2% in the first quarter. GAMMA Investing LLC now owns 44,264 shares of the financial services provider's stock worth $1,197,000 after purchasing an additional 42,849 shares during the last quarter. 88.42% of the stock is currently owned by hedge funds and other institutional investors.

CPB Stock Performance

CPF traded down $0.05 during trading on Tuesday, hitting $26.57. The company's stock had a trading volume of 146,248 shares, compared to its average volume of 133,188. The company has a quick ratio of 0.84, a current ratio of 0.85 and a debt-to-equity ratio of 0.23. CPB Inc. has a one year low of $23.16 and a one year high of $33.25. The firm has a market cap of $716.86 million, a PE ratio of 11.91 and a beta of 1.07. The business's 50 day simple moving average is $27.56 and its 200-day simple moving average is $27.38.

CPB (NYSE:CPF - Get Free Report) last posted its quarterly earnings data 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 firm had revenue of $72.81 million for the quarter, compared to the consensus estimate of $71.80 million. CPB had a net margin of 17.31% and a return on equity of 12.80%. During the same quarter last year, the firm earned $0.58 EPS. As a group, sell-side analysts predict that CPB Inc. will post 2.75 EPS for the current fiscal year.

CPB Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Friday, August 29th will be paid a $0.27 dividend. This represents a $1.08 annualized dividend and a dividend yield of 4.1%. CPB's payout ratio is 48.43%.

Insider Activity

In related news, Director Agnes Catherine Ngo sold 3,333 shares of the firm's stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $27.71, for a total transaction of $92,357.43. Following the sale, the director directly owned 72,922 shares of the company's stock, valued at $2,020,668.62. This trade represents a 4.37% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Paul K. Yonamine sold 2,765 shares of the firm's stock in a transaction dated Thursday, June 5th. The stock was sold at an average price of $26.31, for a total value of $72,747.15. Following the sale, the director directly owned 19,711 shares in the company, valued at approximately $518,596.41. This trade represents a 12.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 12,764 shares of company stock valued at $352,386. Company 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.