CPB (NYSE:CPF) Share Price Passes Above Two Hundred Day Moving Average - What's Next?

Key Points

• CPB shares rose above their 200-day moving average, reaching $37.88 compared with the $35.67 average, while last trading at approximately $37.43.
• Analysts maintain a generally positive outlook, with a “Moderate Buy” consensus and an average price target of $39.33; Benchmark set a $44 target, while Zacks Research downgraded the stock to “Hold.”
• CPB reported quarterly earnings and revenue above expectations and increased its quarterly dividend to $0.30, equivalent to a 3.2% annualized yield.

CPB Inc. (NYSE:CPF - Get Free Report)'s share price passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $35.67 and traded as high as $37.88. CPB shares last traded at $37.4260, with a volume of 122,090 shares changing hands.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the company. Weiss Ratings reissued a "buy (a-)" rating on shares of CPB in a report on Monday. Zacks Research lowered CPB from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, August 26th. Finally, Benchmark assumed coverage on CPB in a research report on Thursday, July 9th. They issued a "buy" rating and a $44.00 target price for the company. One investment 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's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $39.33.

CPB Stock Performance

The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.13. The stock has a market capitalization of $963.72 million, a price-to-earnings ratio of 12.00 and a beta of 0.84. The stock's 50-day simple moving average is $38.37 and its 200 day simple moving average is $35.67.

CPB (NYSE:CPF - Get Free Report) last posted its quarterly earnings data on Friday, July 24th. The financial services provider reported $0.80 earnings per share for the quarter, topping the consensus estimate of $0.78 by $0.02. The company had revenue of $77.45 million during the quarter, compared to analyst estimates of $75.69 million. CPB had a net margin of 22.52% and a return on equity of 14.20%. During the same quarter last year, the business posted $0.67 earnings per share. Analysts expect that CPB Inc. will post 3.32 earnings per share for the current fiscal year.

CPB Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 15th. Shareholders of record on Monday, August 31st were paid a $0.30 dividend. This is a boost from CPB's previous quarterly dividend of $0.29. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date of this dividend was Monday, August 31st. CPB's payout ratio is presently 38.46%.

Institutional Trading of CPB

Hedge funds have recently modified their holdings of the stock. PNC Financial Services Group Inc. raised its position in shares of CPB by 35.5% during the first quarter. PNC Financial Services Group Inc. now owns 2,635 shares of the financial services provider's stock worth $84,000 after acquiring an additional 690 shares during the last quarter. Fifth Third Bancorp boosted its holdings in CPB by 1,888.6% in the first quarter. Fifth Third Bancorp now owns 5,906 shares of the financial services provider's stock valued at $189,000 after acquiring an additional 5,609 shares during the last quarter. Caxton Associates LLP bought a new position in CPB in the first quarter valued at about $209,000. Allspring Global Investments Holdings LLC increased its position in CPB by 11.5% in the first quarter. Allspring Global Investments Holdings LLC now owns 8,744 shares of the financial services provider's stock worth $279,000 after purchasing an additional 902 shares during the period. Finally, Louisiana State Employees Retirement System acquired a new stake in CPB in the first quarter worth about $374,000. 88.42% of the stock is owned by institutional investors.

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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