Basswood Capital Management L.L.C. Has $24.77 Million Stake in CPB Inc. $CPF

Basswood Capital Management L.L.C. decreased its position in CPB Inc. (NYSE:CPF) by 3.7% during the 4th quarter, HoldingsChannel.com reports. The firm owned 794,867 shares of the financial services provider’s stock after selling 30,909 shares during the period. CPB makes up 1.0% of Basswood Capital Management L.L.C.’s investment portfolio, making the stock its 29th biggest holding. Basswood Capital Management L.L.C.’s holdings in CPB were worth $24,768,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of CPF. Royal Bank of Canada raised its stake in shares of CPB by 15.8% in the 1st quarter. Royal Bank of Canada now owns 9,131 shares of the financial services provider’s stock valued at $247,000 after purchasing an additional 1,245 shares during the period. AQR Capital Management LLC raised its stake in shares of CPB by 1.6% in the 1st quarter. AQR Capital Management LLC now owns 169,809 shares of the financial services provider’s stock valued at $4,592,000 after purchasing an additional 2,731 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of CPB by 4.4% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,849 shares of the financial services provider’s stock valued at $429,000 after purchasing an additional 670 shares during the period. Millennium Management LLC raised its stake in shares of CPB by 433.6% in the 1st quarter. Millennium Management LLC now owns 293,335 shares of the financial services provider’s stock valued at $7,932,000 after purchasing an additional 238,367 shares during the period. Finally, Dynamic Technology Lab Private Ltd acquired a new stake in shares of CPB in the 1st quarter valued at about $248,000. Institutional investors and hedge funds own 88.42% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on CPF. Piper Sandler decreased their price objective on CPB from $39.00 to $37.00 and set an “overweight” rating for the company in a report on Thursday, April 2nd. Weiss Ratings upgraded CPB from a “buy (b)” rating to a “buy (b+)” rating in a report on Friday, June 5th. Finally, Keefe, Bruyette & Woods raised their price objective on CPB from $36.00 to $37.00 and gave the company a “market perform” rating in a report on Thursday, April 9th. Two equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $37.00.

CPB Price Performance

Shares of NYSE CPF opened at $36.62 on Friday. The stock has a market capitalization of $955.68 million, a price-to-earnings ratio of 12.25 and a beta of 0.86. The business has a 50-day moving average of $34.33 and a 200-day moving average of $32.82. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.85 and a quick ratio of 0.85. CPB Inc. has a fifty-two week low of $25.62 and a fifty-two week high of $36.80.

CPB (NYSE:CPF) last announced its quarterly earnings data on Wednesday, April 29th. The financial services provider reported $0.78 earnings per share for the quarter, beating the consensus estimate of $0.74 by $0.04. The company had revenue of $72.93 million during the quarter, compared to analysts’ expectations of $74.30 million. CPB had a return on equity of 13.93% and a net margin of 21.96%. As a group, sell-side analysts predict that CPB Inc. will post 3.17 earnings per share for the current fiscal year.

CPB Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Friday, May 29th will be paid a $0.29 dividend. This represents a $1.16 annualized dividend and a yield of 3.2%. The ex-dividend date is Friday, May 29th. CPB’s dividend payout ratio (DPR) is 38.80%.

About CPB

Charoen Pokphand Foods Public Company Limited (NYSE: CPF) is a Thailand‐based integrated agro‐industrial and food conglomerate. Headquartered in Bangkok, the company is a subsidiary of the Charoen Pokphand Group and has grown into one of the world’s leading producers of livestock feed, meat and seafood products. CPF’s businesses span animal feed milling, animal breeding and hatchery operations, meat and seafood processing, and the distribution of fresh, frozen and value‐added food products.

CPF’s product portfolio includes poultry, swine and aquaculture feed; fresh and frozen chicken and pork; shrimp and other seafood; as well as ready‐to‐eat and ready‐to‐cook food items.