CPB (NYSE:CPF) Share Price Crosses Above 200-Day Moving Average - What's Next?

Key Points

• CPB shares crossed above their 200-day moving average, reaching $37.25 and last trading near $36.91, compared with a 200-day average of $35.85.
• Analyst sentiment remains broadly positive, with a MarketBeat consensus rating of “Moderate Buy” and an average price target of $39.33; Benchmark initiated coverage with a $44 target.
• CPB reported better-than-expected quarterly results, with EPS of $0.80 and revenue of $77.45 million, and raised its quarterly dividend to $0.30 per share, yielding about 3.3%.

CPB Inc. (NYSE:CPF - Get Free Report)'s stock price crossed above its 200-day moving average during trading on Friday. The stock has a 200-day moving average of $35.85 and traded as high as $37.25. CPB shares last traded at $36.9070, with a volume of 120,189 shares trading hands.

Analysts Set New Price Targets

Several analysts recently issued reports on CPF shares. Benchmark started coverage on CPB in a research note on Thursday, July 9th. They issued a "buy" rating and a $44.00 target price on the stock. Weiss Ratings reaffirmed a "buy (a-)" rating on shares of CPB in a research report on Monday, September 14th. Finally, Zacks Research cut CPB from a "strong-buy" rating to a "hold" rating in a report on Wednesday, August 26th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $39.33.

CPB Stock Up 0.2%

The company's fifty day simple moving average is $38.15 and its 200 day simple moving average is $35.85. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.13. The firm has a market capitalization of $950.36 million, a P/E ratio of 11.83 and a beta of 0.84.

CPB (NYSE:CPF - Get Free Report) last announced its earnings results on Friday, July 24th. The financial services provider reported $0.80 earnings per share for the quarter, beating analysts' consensus estimates of $0.78 by $0.02. CPB had a net margin of 22.52% and a return on equity of 14.20%. The firm had revenue of $77.45 million for the quarter, compared to analyst estimates of $75.69 million. During the same quarter in the previous year, the firm posted $0.67 EPS. Research analysts expect that CPB Inc. will post 3.32 EPS for the current year.

CPB Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 15th. Shareholders of record on Monday, August 31st were given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 3.3%. The ex-dividend date of this dividend was Monday, August 31st. This is a positive change from CPB's previous quarterly dividend of $0.29. CPB's payout ratio is presently 38.46%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. WINTON GROUP Ltd raised its holdings in CPB by 1.1% in the fourth quarter. WINTON GROUP Ltd now owns 44,388 shares of the financial services provider's stock worth $1,383,000 after purchasing an additional 472 shares in the last quarter. Illinois Municipal Retirement Fund boosted its holdings in shares of CPB by 3.8% during the 1st quarter. Illinois Municipal Retirement Fund now owns 14,398 shares of the financial services provider's stock valued at $460,000 after buying an additional 523 shares in the last quarter. PNC Financial Services Group Inc. grew its position in shares of CPB by 35.5% in the 1st quarter. PNC Financial Services Group Inc. now owns 2,635 shares of the financial services provider's stock worth $84,000 after buying an additional 690 shares during the period. Allspring Global Investments Holdings LLC grew its position in shares of CPB by 11.5% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 8,744 shares of the financial services provider's stock worth $279,000 after buying an additional 902 shares during the period. Finally, Sei Investments Co. increased its stake in shares of CPB by 7.6% in the 1st quarter. Sei Investments Co. now owns 23,969 shares of the financial services provider's stock worth $766,000 after acquiring an additional 1,700 shares in the last quarter. Hedge funds and other institutional investors own 88.42% of the company's stock.

CPB Company Profile

Central Pacific Financial Corp. is a bank holding company headquartered in Honolulu, Hawaii. Through its principal subsidiary, Central Pacific Bank, the company provides banking and financial services to consumers, businesses, nonprofit organizations and government entities throughout the Hawaiian Islands.

Central Pacific Bank offers deposit products, residential and commercial real estate loans, consumer lending, business loans, treasury management services, online and mobile banking, and wealth management solutions.

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