Trexquant Investment LP Purchases 17,919 Shares of CPB Inc. $CPF

Key Points

• Trexquant Investment LP increased its stake in CPB Inc. by 22.4% in Q1, owning 97,771 shares worth approximately $2.64 million.
• Director Agnes Catherine Ngo sold 3,333 shares for a total of $92,890.71, reducing her holdings by 4.85%.
• CPB Inc. announced a quarterly dividend of $0.27 per share, expected to be paid on September 15th, with a dividend yield of 3.5%.

Trexquant Investment LP raised its position in CPB Inc. (NYSE:CPF - Free Report) by 22.4% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 97,771 shares of the financial services provider's stock after purchasing an additional 17,919 shares during the quarter. Trexquant Investment LP owned approximately 0.36% of CPB worth $2,644,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in CPF. SummerHaven Investment Management LLC boosted its stake in CPB by 1.4% during the 1st quarter. SummerHaven Investment Management LLC now owns 36,011 shares of the financial services provider's stock worth $974,000 after acquiring an additional 482 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in CPB by 3.4% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,179 shares of the financial services provider's stock valued at $441,000 after buying an additional 493 shares during the period. CWM LLC boosted its position in shares of CPB by 17.5% during the first quarter. CWM LLC now owns 4,285 shares of the financial services provider's stock valued at $116,000 after buying an additional 639 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its stake in CPB by 18.2% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 10,331 shares of the financial services provider's stock valued at $301,000 after purchasing an additional 1,589 shares during the last quarter. Finally, Martingale Asset Management L P lifted its stake in CPB by 1.9% in the 1st quarter. Martingale Asset Management L P now owns 87,175 shares of the financial services provider's stock worth $2,357,000 after purchasing an additional 1,601 shares in the last quarter. Institutional investors and hedge funds own 88.42% of the company's stock.

CPB Trading Down 0.5%

NYSE CPF traded down $0.16 during mid-day trading on Monday, reaching $31.00. 46,423 shares of the stock were exchanged, compared to its average volume of 172,561. The stock has a market capitalization of $836.35 million, a PE ratio of 13.89 and a beta of 1.11. 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 Inc. has a 1-year low of $23.16 and a 1-year high of $33.25. The business's fifty day simple moving average is $28.83 and its 200 day simple moving average is $27.39.

CPB (NYSE:CPF - Get Free Report) last posted its earnings results on Friday, July 25th. The financial services provider reported $0.67 EPS for the quarter, missing the consensus estimate of $0.70 by ($0.03). The business had revenue of $72.81 million during the quarter, compared to analyst estimates 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 business earned $0.58 earnings per share. On average, research analysts anticipate that CPB Inc. will post 2.75 earnings per share for the current fiscal year.

CPB Dividend Announcement

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

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling at CPB

In other CPB news, Director Paul Kosasa sold 923 shares of the stock in a transaction on Thursday, August 14th. The stock was sold at an average price of $28.62, for a total value of $26,416.26. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Agnes Catherine Ngo sold 3,333 shares of the company's stock in a transaction on Tuesday, August 12th. The shares were 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 in the company, valued at approximately $1,824,342.33. The trade was a 4.85% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 10,922 shares of company stock worth $306,588. Corporate insiders own 2.40% of the company's stock.

CPB Company 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.