Fmr LLC Takes Position in CPB Inc. (CPF)
Fmr LLC acquired a new stake in CPB Inc. (NYSE:CPF) during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor acquired 177,954 shares of the financial services provider’s stock, valued at approximately $5,600,000. Fmr LLC owned 0.58% of CPB as of its most recent filing with the SEC.
A number of other institutional investors also recently added to or reduced their stakes in the business. BlackRock Inc. increased its stake in CPB by 12,207.6% in the 1st 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. increased its stake in CPB by 3.4% in the 1st 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 increased its stake in CPB by 1.1% in the 1st 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. Principal Financial Group Inc. increased its stake in CPB by 5.2% in the 2nd quarter. Principal Financial Group Inc. now owns 1,190,591 shares of the financial services provider’s stock valued at $37,468,000 after buying an additional 58,683 shares during the period. Finally, State Street Corp increased its stake in CPB by 18.2% in the 1st quarter. State Street Corp now owns 994,439 shares of the financial services provider’s stock valued at $30,364,000 after buying an additional 152,838 shares during the period. Hedge funds and other institutional investors own 91.39% of the company’s stock.
Several research firms have weighed in on CPF. Zacks Investment Research lowered shares of CPB from a “hold” rating to a “sell” rating in a research note on Friday. BidaskClub lowered shares of CPB from a “sell” rating to a “strong sell” rating in a research note on Friday, July 28th. Finally, Piper Jaffray Companies reiterated a “hold” rating and issued a $32.50 price objective on shares of CPB in a research note on Friday, July 14th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and one has assigned a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $32.50.
CPB Inc. (NYSE CPF) opened at $31.09 on Friday. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 0.18. The company has a market capitalization of $948.23 million, a P/E ratio of 19.75 and a beta of 1.18.
CPB (NYSE:CPF) last released its quarterly earnings results on Wednesday, October 25th. The financial services provider reported $0.39 EPS for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.02). CPB had a return on equity of 9.64% and a net margin of 22.45%. The firm had revenue of $51.69 million for the quarter, compared to analyst estimates of $52.43 million. During the same quarter last year, the company earned $0.37 earnings per share. The firm’s revenue for the quarter was up 3.1% on a year-over-year basis. equities research analysts forecast that CPB Inc. will post 1.64 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Thursday, November 30th will be given a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 2.32%. The ex-dividend date of this dividend is Wednesday, November 29th. CPB’s dividend payout ratio is currently 45.28%.
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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