Teacher Retirement System of Texas Sells 26,650 Shares of CPB Inc. (NYSE:CPF)

Teacher Retirement System of Texas cut its stake in shares of CPB Inc. (NYSE:CPF) by 41.4% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 37,687 shares of the financial services provider’s stock after selling 26,650 shares during the quarter. Teacher Retirement System of Texas owned approximately 0.14% of CPB worth $1,019,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. SummerHaven Investment Management LLC boosted its stake in CPB by 1.4% during the first quarter. SummerHaven Investment Management LLC now owns 36,011 shares of the financial services provider’s stock worth $974,000 after acquiring an additional 482 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in CPB by 3.4% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,179 shares of the financial services provider’s stock worth $441,000 after acquiring an additional 493 shares in the last quarter. Sterling Capital Management LLC boosted its stake in CPB by 4.4% during the fourth quarter. Sterling Capital Management LLC now owns 17,969 shares of the financial services provider’s stock worth $522,000 after acquiring an additional 762 shares in the last quarter. Hsbc Holdings PLC boosted its stake in CPB by 3.7% during the fourth quarter. Hsbc Holdings PLC now owns 26,575 shares of the financial services provider’s stock worth $766,000 after acquiring an additional 940 shares in the last quarter. Finally, Picton Mahoney Asset Management bought a new position in CPB during the fourth quarter worth $30,000. 88.42% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other CPB news, Director Agnes Catherine Ngo sold 3,333 shares of the firm’s stock in a transaction on Monday, May 12th. The shares were sold at an average price of $27.71, for a total value of $92,357.43. Following the transaction, the director directly owned 72,922 shares of the company’s stock, valued at approximately $2,020,668.62. This trade represents a 4.37% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Paul K. Yonamine sold 2,765 shares of the firm’s stock in a transaction dated Thursday, June 5th. The stock was sold at an average price of $26.31, for a total transaction of $72,747.15. Following the sale, the director owned 19,711 shares of the company’s stock, valued at $518,596.41. This trade represents a 12.30% decrease in their position. The disclosure for this sale can be found here. Insiders sold 9,431 shares of company stock worth $255,062 over the last ninety days. Insiders own 2.40% of the company’s stock.

CPB Stock Down 1.3%

CPB stock opened at $28.89 on Monday. CPB Inc. has a 1-year low of $22.86 and a 1-year high of $33.25. The firm has a market capitalization of $779.56 million, a price-to-earnings ratio of 13.50 and a beta of 1.04. The firm’s fifty day moving average price is $27.30 and its two-hundred day moving average price is $27.38. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.24.

CPB (NYSE:CPF) last released its quarterly earnings data on Wednesday, April 23rd. The financial services provider reported $0.65 earnings per share for the quarter, beating analysts’ consensus estimates of $0.63 by $0.02. CPB had a net margin of 16.76% and a return on equity of 12.65%. The firm had revenue of $68.80 million for the quarter, compared to analyst estimates of $68.93 million. During the same period last year, the firm earned $0.48 earnings per share. On average, equities research analysts predict that CPB Inc. will post 2.75 earnings per share for the current fiscal year.

CPB Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Friday, May 30th were paid a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a dividend yield of 3.74%. The ex-dividend date of this dividend was Friday, May 30th. CPB’s dividend payout ratio (DPR) is 50.47%.

Wall Street Analyst Weigh In

Separately, Wall Street Zen raised shares of CPB from a “sell” rating to a “hold” rating in a research note on Thursday, March 20th.

About CPB

Central Pacific Financial Corp. operates as the bank holding company for Central Pacific Bank that provides a range of commercial banking products and services to businesses, professionals, and individuals in the United States. It offers various deposit products and services, including checking, savings and time deposits, cash management and digital banking, trust, and retail brokerage services, as well as money market accounts and certificates of deposit.