BidaskClub lowered shares of CPB Inc. (NYSE:CPF) from a sell rating to a strong sell rating in a report published on Friday morning.

Other analysts have also issued reports about the stock. Zacks Investment Research upgraded shares of CPB from a hold rating to a buy rating and set a $35.00 price target on the stock in a research note on Friday, June 9th. Piper Jaffray Companies reiterated a hold rating and set a $32.50 price target on shares of CPB in a research note on Friday, July 14th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company. The company currently has an average rating of Hold and an average target price of $30.38.

CPB (NYSE CPF) opened at 30.93 on Friday. CPB has a 12-month low of $24.20 and a 12-month high of $33.55. The stock has a 50 day moving average of $31.43 and a 200-day moving average of $31.05. The company has a market capitalization of $943.80 million, a PE ratio of 19.70 and a beta of 1.16.

CPB (NYSE:CPF) last issued its quarterly earnings data on Wednesday, July 26th. The financial services provider reported $0.39 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.40 by $0.01. The company had revenue of $49.50 million during the quarter, compared to analysts’ expectations of $51.40 million. CPB had a net margin of 22.59% and a return on equity of 9.52%. During the same quarter last year, the firm posted $0.39 earnings per share. Equities analysts expect that CPB will post $1.65 earnings per share for the current year.

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The firm also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Thursday, August 31st will be paid a dividend of $0.18 per share. The ex-dividend date is Tuesday, August 29th. This represents a $0.72 dividend on an annualized basis and a yield of 2.33%. CPB’s dividend payout ratio (DPR) is presently 45.86%.

In related news, Director Earl E. Fry acquired 1,730 shares of the stock in a transaction dated Tuesday, June 13th. The stock was acquired at an average cost of $32.08 per share, with a total value of $55,498.40. Following the completion of the transaction, the director now owns 251 shares in the company, valued at approximately $8,052.08. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. 4.10% of the stock is owned by corporate insiders.

Several institutional investors have recently made changes to their positions in CPF. BlackRock Inc. boosted its stake in shares of CPB by 12,207.6% in the first quarter. BlackRock Inc. now owns 5,098,913 shares of the financial services provider’s stock valued at $155,721,000 after buying an additional 5,057,484 shares during the period. Vanguard Group Inc. boosted its stake in shares of CPB by 3.4% in the first quarter. Vanguard Group Inc. now owns 3,154,860 shares of the financial services provider’s stock valued at $96,350,000 after buying an additional 103,869 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of CPB by 1.1% in the first quarter. Dimensional Fund Advisors LP now owns 1,453,155 shares of the financial services provider’s stock valued at $44,380,000 after buying an additional 15,493 shares during the period. Bank of New York Mellon Corp boosted its stake in shares of CPB by 3.0% in the first quarter. Bank of New York Mellon Corp now owns 1,180,023 shares of the financial services provider’s stock valued at $36,038,000 after buying an additional 34,401 shares during the period. Finally, Principal Financial Group Inc. boosted its stake in shares of CPB by 6.6% in the first quarter. Principal Financial Group Inc. now owns 1,131,908 shares of the financial services provider’s stock valued at $34,568,000 after buying an additional 69,746 shares during the period. 92.36% of the stock is owned by institutional investors and hedge funds.

CPB Company Profile

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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