Invesco Ltd. Sells 13,020 Shares of CPB Inc. $CPF

Invesco Ltd. lessened its stake in CPB Inc. (NYSE:CPF) by 5.8% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 212,415 shares of the financial services provider’s stock after selling 13,020 shares during the period. Invesco Ltd. owned 0.79% of CPB worth $5,744,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the stock. CWM LLC raised its position in shares of CPB by 17.5% during the first quarter. CWM LLC now owns 4,285 shares of the financial services provider’s stock worth $116,000 after acquiring an additional 639 shares during the last quarter. Aquatic Capital Management LLC raised its position in shares of CPB by 663.3% during the fourth quarter. Aquatic Capital Management LLC now owns 7,633 shares of the financial services provider’s stock worth $222,000 after acquiring an additional 6,633 shares during the last quarter. ProShare Advisors LLC bought a new stake in CPB during the 4th quarter worth about $234,000. Price T Rowe Associates Inc. MD raised its holdings in CPB by 18.2% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 10,331 shares of the financial services provider’s stock worth $301,000 after purchasing an additional 1,589 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in CPB by 3.4% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,179 shares of the financial services provider’s stock worth $441,000 after purchasing an additional 493 shares during the last quarter. Institutional investors own 88.42% of the company’s stock.

Analyst Ratings Changes

Separately, Piper Sandler started coverage on CPB in a report on Thursday, August 21st. They set an “overweight” rating and a $35.00 price objective for the company. One analyst has rated the stock with a Buy rating, According to MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $35.00.

CPB Stock Up 0.4%

Shares of NYSE:CPF opened at $31.51 on Thursday. CPB Inc. has a 52 week low of $23.16 and a 52 week high of $33.25. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.85 and a current ratio of 0.85. The company has a market capitalization of $850.00 million, a PE ratio of 14.13 and a beta of 1.07. The company has a 50 day moving average price of $28.24 and a two-hundred day moving average price of $27.34.

CPB (NYSE:CPF) last released its quarterly earnings data 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). CPB had a net margin of 17.31% and a return on equity of 12.80%. The firm had revenue of $72.81 million during the quarter, compared to the consensus estimate of $71.80 million. During the same quarter in the prior year, the company earned $0.58 EPS. Analysts forecast that CPB Inc. will post 2.75 earnings per share for the current year.

CPB Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Friday, August 29th will be paid a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a yield of 3.4%. CPB’s payout ratio is 48.43%.

Insider Buying and Selling

In related news, Director Agnes Catherine Ngo sold 3,333 shares of the stock in a transaction that occurred 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 completion of the sale, the director directly owned 65,459 shares of the company’s stock, valued at approximately $1,824,342.33. This represents a 4.85% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, 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 transaction of $72,747.15. Following the sale, the director directly owned 19,711 shares of the company’s stock, valued at $518,596.41. This represents a 12.30% 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 $352,919. 2.40% of the stock is owned by company 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.