CPB Inc. $CPF Shares Sold by Maryland State Retirement & Pension System

Maryland State Retirement & Pension System reduced its position in CPB Inc. (NYSE:CPF) by 13.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,898 shares of the financial services provider’s stock after selling 1,241 shares during the period. Maryland State Retirement & Pension System’s holdings in CPB were worth $214,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of CPF. Charles Schwab Investment Management Inc. raised its holdings in CPB by 0.6% in the first quarter. Charles Schwab Investment Management Inc. now owns 1,004,487 shares of the financial services provider’s stock valued at $27,161,000 after buying an additional 5,648 shares during the period. LSV Asset Management raised its stake in shares of CPB by 10.1% in the 1st quarter. LSV Asset Management now owns 734,830 shares of the financial services provider’s stock valued at $19,870,000 after acquiring an additional 67,300 shares during the period. Allianz Asset Management GmbH lifted its holdings in shares of CPB by 6.5% during the 1st quarter. Allianz Asset Management GmbH now owns 563,951 shares of the financial services provider’s stock valued at $15,249,000 after acquiring an additional 34,528 shares in the last quarter. Basswood Capital Management L.L.C. boosted its position in CPB by 0.8% during the 4th quarter. Basswood Capital Management L.L.C. now owns 527,794 shares of the financial services provider’s stock worth $15,332,000 after purchasing an additional 4,065 shares during the period. Finally, Nuveen Asset Management LLC increased its holdings in CPB by 3.3% in the 4th quarter. Nuveen Asset Management LLC now owns 421,317 shares of the financial services provider’s stock valued at $12,239,000 after purchasing an additional 13,406 shares in the last quarter. Institutional investors and hedge funds own 88.42% of the company’s stock.

Insider Buying and Selling at CPB

In related news, Director Paul K. Yonamine sold 2,765 shares of the firm’s stock in a transaction on Thursday, June 5th. The shares were sold at an average price of $26.31, for a total transaction of $72,747.15. Following the completion of the sale, the director directly owned 19,711 shares of the company’s stock, valued at approximately $518,596.41. This trade represents a 12.30% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Agnes Catherine Ngo sold 3,333 shares of CPB stock in a transaction on Tuesday, August 12th. The stock was sold at an average price of $27.87, for a total transaction of $92,890.71. Following the sale, the director directly owned 65,459 shares in the company, valued at $1,824,342.33. This trade represents a 4.85% decrease in their position. The disclosure for this sale can be found here. Insiders sold 12,764 shares of company stock valued at $352,919 over the last 90 days. Insiders own 2.40% of the company’s stock.

CPB Trading Up 0.6%

Shares of CPF opened at $28.5250 on Wednesday. The stock’s 50-day moving average is $27.76 and its two-hundred day moving average is $27.30. The stock has a market cap of $769.60 million, a PE ratio of 12.79 and a beta of 1.07. CPB Inc. has a 12 month low of $23.16 and a 12 month high of $33.25. The company has a debt-to-equity ratio of 0.29, a current ratio of 0.85 and a quick ratio of 0.85.

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

CPB Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Friday, August 29th will be given a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a dividend yield of 3.8%. CPB’s payout ratio is currently 48.43%.

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.