LSV Asset Management Has $19.87 Million Stock Position in CPB Inc. (NYSE:CPF)

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 CPB Inc. (NYSE:CPF - Free Report) by 10.1% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor 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.

Several other large investors also recently made changes to their positions in the stock. SummerHaven Investment Management LLC raised its position in CPB by 1.4% during the first quarter. SummerHaven Investment Management LLC now owns 36,011 shares of the financial services provider's stock valued at $974,000 after purchasing an additional 482 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in CPB by 3.4% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,179 shares of the financial services provider's stock valued at $441,000 after purchasing an additional 493 shares during the period. CWM LLC grew its stake in shares of CPB by 17.5% in the first quarter. CWM LLC now owns 4,285 shares of the financial services provider's stock worth $116,000 after acquiring an additional 639 shares during the last quarter. Sterling Capital Management LLC boosted its holdings in shares of CPB by 4.4% in the fourth quarter. Sterling Capital Management LLC now owns 17,969 shares of the financial services provider's stock worth $522,000 after buying an additional 762 shares during the last quarter. Finally, Hsbc Holdings PLC lifted its stake in CPB by 3.7% in the 4th quarter. Hsbc Holdings PLC now owns 26,575 shares of the financial services provider's stock worth $766,000 after purchasing an additional 940 shares in the last quarter. Institutional investors own 88.42% of the company's stock.

CPB Stock Up 0.9%

NYSE:CPF traded up $0.25 during midday trading on Thursday, reaching $26.54. 41,079 shares of the stock traded hands, compared to its average volume of 173,992. The stock has a market capitalization of $715.91 million, a PE ratio of 11.90 and a beta of 1.07. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.84 and a current ratio of 0.85. CPB Inc. has a 12-month low of $23.16 and a 12-month high of $33.25. The business has a 50-day moving average of $27.54 and a two-hundred day moving average of $27.36.

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 the consensus estimate of $0.70 by ($0.03). CPB had a return on equity of 12.80% and a net margin of 17.31%. The firm had revenue of $72.81 million during the quarter, compared to analysts' expectations of $71.80 million. During the same period last year, the business posted $0.58 earnings per share. On average, equities analysts forecast that CPB Inc. will post 2.75 earnings per share for the current fiscal year.

CPB Dividend Announcement

The firm also recently disclosed 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. This represents a $1.08 dividend on an annualized basis and a yield of 4.1%. CPB's dividend payout ratio is currently 48.43%.

Insider Transactions at CPB

In related news, Director Agnes Catherine Ngo sold 3,333 shares of the company's stock in a transaction that occurred on Monday, July 14th. The stock was sold at an average price of $29.20, for a total value of $97,323.60. Following the transaction, the director directly owned 68,792 shares of the company's stock, valued at approximately $2,008,726.40. This represents a 4.62% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Paul K. Yonamine sold 2,765 shares of the 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 transaction, the director directly owned 19,711 shares of the company's stock, valued at $518,596.41. This trade represents a 12.30% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 12,764 shares of company stock valued at $352,386 in the last three months. 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.