CPB Inc. (CPF) Stock Rating Upgraded by Zacks Investment Research
CPB Inc. (NYSE:CPF) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued on Tuesday.
According to Zacks, “Central Pacific Financial Corp. is a Hawaii-based bank holding company. Central Pacific Bank, its subsidiary, is Hawaii’s third largest commercial bank. “
A number of other analysts have also recently commented on the stock. Piper Jaffray Companies restated a “hold” rating and issued a $32.50 price objective on shares of CPB in a research report on Friday, July 14th. BidaskClub cut shares of CPB from a “sell” rating to a “strong sell” rating in a research report on Friday, July 28th. One research analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $30.25.
Shares of CPB (NYSE:CPF) traded up 1.10% during mid-day trading on Tuesday, hitting $32.26. The stock had a trading volume of 24,548 shares. The stock has a market capitalization of $981.96 million, a price-to-earnings ratio of 20.55 and a beta of 1.18. CPB has a 12-month low of $24.54 and a 12-month high of $33.55. The stock’s 50-day moving average price is $29.79 and its 200-day moving average price is $30.59.
CPB (NYSE:CPF) last released its quarterly earnings data on Wednesday, July 26th. The financial services provider reported $0.39 EPS for the quarter, missing the Zacks’ consensus estimate of $0.40 by ($0.01). CPB had a net margin of 22.59% and a return on equity of 9.52%. The firm had revenue of $49.50 million during the quarter, compared to the consensus estimate of $51.40 million. During the same quarter in the prior year, the company earned $0.39 EPS. On average, equities analysts anticipate that CPB will post $1.64 EPS for the current fiscal year.
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In related news, Director Paul K. Yonamine bought 1,400 shares of CPB stock in a transaction that occurred on Tuesday, August 1st. The stock was purchased at an average cost of $30.98 per share, with a total value of $43,372.00. Following the purchase, the director now owns 1,400 shares in the company, valued at $43,372. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 4.10% of the stock is currently owned by corporate insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Texas Permanent School Fund boosted its stake in CPB by 0.4% in the 2nd quarter. Texas Permanent School Fund now owns 22,368 shares of the financial services provider’s stock worth $704,000 after purchasing an additional 88 shares during the period. Arizona State Retirement System boosted its stake in CPB by 1.3% in the 1st quarter. Arizona State Retirement System now owns 16,076 shares of the financial services provider’s stock worth $491,000 after purchasing an additional 200 shares during the period. QS Investors LLC boosted its stake in CPB by 4.7% in the 2nd quarter. QS Investors LLC now owns 4,532 shares of the financial services provider’s stock worth $143,000 after purchasing an additional 203 shares during the period. Los Angeles Capital Management & Equity Research Inc. boosted its stake in CPB by 2.2% in the 1st quarter. Los Angeles Capital Management & Equity Research Inc. now owns 13,917 shares of the financial services provider’s stock worth $425,000 after purchasing an additional 300 shares during the period. Finally, Legal & General Group Plc boosted its stake in CPB by 0.8% in the 1st quarter. Legal & General Group Plc now owns 51,154 shares of the financial services provider’s stock worth $1,562,000 after purchasing an additional 418 shares during the period. 91.38% of the stock is owned by hedge funds and other institutional investors.
Central Pacific Financial Corp. is the bank holding company of Central Pacific Bank (the Bank). The Company’s segments include Banking Operations, Treasury and All Others. The Banking Operations segment includes construction and real estate development lending, commercial lending, residential mortgage lending, consumer lending, trust services, retail brokerage services and its retail branch offices, which provide a range of deposit and loan products, as well as various other banking services.
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