Mackenzie Financial Corp Has $651,000 Stock Position in CPB Inc. (NYSE:CPF)

Mackenzie Financial Corp increased its position in shares of CPB Inc. (NYSE:CPF) by 25.5% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 24,071 shares of the financial services provider’s stock after buying an additional 4,894 shares during the quarter. Mackenzie Financial Corp owned about 0.09% of CPB worth $651,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Allianz Asset Management GmbH raised its stake in shares of CPB by 6.5% in the first quarter. Allianz Asset Management GmbH now owns 563,951 shares of the financial services provider’s stock worth $15,249,000 after purchasing an additional 34,528 shares during the last quarter. CWM LLC raised its stake in shares of CPB by 17.5% in the first quarter. CWM LLC now owns 4,285 shares of the financial services provider’s stock worth $116,000 after purchasing an additional 639 shares during the last quarter. Principal Financial Group Inc. raised its stake in shares of CPB by 2.6% in the first quarter. Principal Financial Group Inc. now owns 155,957 shares of the financial services provider’s stock worth $4,217,000 after purchasing an additional 3,914 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of CPB by 12.6% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 22,056 shares of the financial services provider’s stock worth $594,000 after purchasing an additional 2,468 shares during the last quarter. Finally, SummerHaven Investment Management LLC raised its stake in shares of CPB by 1.4% in the first quarter. SummerHaven Investment Management LLC now owns 36,011 shares of the financial services provider’s stock worth $974,000 after purchasing an additional 482 shares during the last quarter. 88.42% of the stock is owned by institutional investors and hedge funds.

CPB Stock Performance

Shares of CPB stock opened at $26.29 on Thursday. The company has a quick ratio of 0.84, a current ratio of 0.85 and a debt-to-equity ratio of 0.23. The company has a market cap of $709.33 million, a PE ratio of 11.79 and a beta of 1.07. The business has a 50 day moving average price of $27.54 and a 200-day moving average price of $27.36. CPB Inc. has a 52 week low of $23.16 and a 52 week high of $33.25.

CPB (NYSE:CPF) last issued its quarterly earnings results on Friday, July 25th. The financial services provider reported $0.67 EPS for the quarter, missing analysts’ consensus estimates of $0.70 by ($0.03). The business had revenue of $72.81 million for the quarter, compared to analysts’ expectations of $71.80 million. CPB had a net margin of 17.31% and a return on equity of 12.80%. During the same period in the previous year, the business posted $0.58 earnings per share. Equities analysts anticipate that CPB Inc. will post 2.75 earnings per share for the current fiscal year.

CPB Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Friday, August 29th will be issued a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a yield of 4.1%. CPB’s dividend payout ratio (DPR) is 48.43%.

Insider Buying and Selling at CPB

In related news, Director Paul K. Yonamine sold 2,765 shares of the stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $26.31, for a total value of $72,747.15. Following the sale, the director owned 19,711 shares in the company, valued at approximately $518,596.41. This trade represents a 12.30% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Agnes Catherine Ngo sold 3,333 shares of CPB stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $27.71, for a total value of $92,357.43. Following the completion of the transaction, the director owned 72,922 shares in the company, valued at approximately $2,020,668.62. This represents a 4.37% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 12,764 shares of company stock valued at $352,386. 2.40% of the stock is owned by corporate insiders.

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.