Nisa Investment Advisors LLC Cuts Stake in CPB Inc. (NYSE:CPF)

Nisa Investment Advisors LLC reduced its stake in shares of CPB Inc. (NYSE:CPF) by 3.7% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 13,930 shares of the financial services provider’s stock after selling 530 shares during the period. Nisa Investment Advisors LLC owned 0.05% of CPB worth $377,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of CPF. Victory Capital Management Inc. grew its holdings in shares of CPB by 7.5% during the 4th quarter. Victory Capital Management Inc. now owns 31,156 shares of the financial services provider’s stock worth $905,000 after purchasing an additional 2,183 shares during the period. Raymond James Financial Inc. purchased a new stake in shares of CPB during the 4th quarter worth about $1,712,000. Amundi grew its holdings in shares of CPB by 181.4% during the 4th quarter. Amundi now owns 13,616 shares of the financial services provider’s stock worth $374,000 after purchasing an additional 8,778 shares during the period. Intech Investment Management LLC grew its holdings in shares of CPB by 29.5% during the 4th quarter. Intech Investment Management LLC now owns 14,501 shares of the financial services provider’s stock worth $421,000 after purchasing an additional 3,300 shares during the period. Finally, Boston Partners grew its holdings in shares of CPB by 55.1% during the 4th quarter. Boston Partners now owns 12,993 shares of the financial services provider’s stock worth $377,000 after purchasing an additional 4,616 shares during the period. 88.42% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at CPB

In other CPB news, Director Agnes Catherine Ngo sold 3,333 shares of the business’s stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $27.71, for a total transaction of $92,357.43. Following the sale, the director directly owned 72,922 shares in the company, valued at approximately $2,020,668.62. The trade was a 4.37% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Paul K. Yonamine sold 2,765 shares of the business’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 in the company, valued at $518,596.41. This trade represents a 12.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 12,764 shares of company stock worth $352,386 in the last three months. 2.40% of the stock is currently owned by corporate insiders.

CPB Trading Up 1.4%

Shares of CPF opened at $28.49 on Thursday. The company has a market capitalization of $768.53 million, a P/E ratio of 13.31 and a beta of 1.04. CPB Inc. has a one year low of $23.16 and a one year high of $33.25. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.84 and a current ratio of 0.84. The stock has a 50-day moving average price of $27.42 and a 200 day moving average price of $27.40.

CPB (NYSE:CPF) last announced its quarterly earnings data on Wednesday, April 23rd. The financial services provider reported $0.65 earnings per share for the quarter, beating the consensus estimate of $0.63 by $0.02. The firm had revenue of $68.80 million during the quarter, compared to analyst estimates of $68.93 million. CPB had a return on equity of 12.65% and a net margin of 16.76%. During the same period in the previous year, the company earned $0.48 earnings per share. Sell-side analysts forecast that CPB Inc. will post 2.75 EPS for the current fiscal year.

CPB Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Friday, May 30th were issued a $0.27 dividend. The ex-dividend date of this dividend was Friday, May 30th. This represents a $1.08 dividend on an annualized basis and a yield of 3.79%. CPB’s dividend payout ratio is currently 50.47%.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen upgraded CPB from a “sell” rating to a “hold” rating in a report on Thursday, March 20th.

CPB Company Profile

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.