CPB Inc. $CPF Shares Acquired by Rhumbline Advisers

Rhumbline Advisers lifted its position in shares of CPB Inc. (NYSE:CPF) by 8.1% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 87,904 shares of the financial services provider’s stock after buying an additional 6,582 shares during the period. Rhumbline Advisers owned approximately 0.33% of CPB worth $2,377,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of CPB by 12.6% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 22,056 shares of the financial services provider’s stock worth $594,000 after buying an additional 2,468 shares during the last quarter. Deutsche Bank AG increased its holdings in shares of CPB by 389.7% during the 1st quarter. Deutsche Bank AG now owns 132,008 shares of the financial services provider’s stock worth $3,569,000 after buying an additional 105,051 shares during the last quarter. Nuveen Asset Management LLC increased its holdings in shares of CPB by 3.3% during the 4th quarter. Nuveen Asset Management LLC now owns 421,317 shares of the financial services provider’s stock worth $12,239,000 after buying an additional 13,406 shares during the last quarter. GAMMA Investing LLC increased its holdings in shares of CPB by 3,028.2% during the 1st quarter. GAMMA Investing LLC now owns 44,264 shares of the financial services provider’s stock worth $1,197,000 after buying an additional 42,849 shares during the last quarter. Finally, ProShare Advisors LLC acquired a new stake in shares of CPB during the 4th quarter worth approximately $234,000. Institutional investors and hedge funds own 88.42% of the company’s stock.

CPB Price Performance

CPB stock opened at $29.95 on Wednesday. The stock has a market cap of $808.05 million, a P/E ratio of 13.43 and a beta of 1.11. The company has a fifty day simple moving average of $29.04 and a 200-day simple moving average of $27.49. CPB Inc. has a 12-month low of $23.16 and a 12-month high of $33.25. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.29.

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

CPB Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Friday, August 29th were paid a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a yield of 3.6%. The ex-dividend date was Friday, August 29th. CPB’s dividend payout ratio (DPR) is currently 48.43%.

Analysts Set New Price Targets

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

Insider Buying and Selling at CPB

In related news, Director Agnes Catherine Ngo sold 3,333 shares of CPB stock in a transaction on Friday, September 12th. The shares were sold at an average price of $30.66, for a total transaction of $102,189.78. Following the sale, the director directly owned 60,514 shares in the company, valued at $1,855,359.24. This trade represents a 5.22% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Paul Kosasa sold 923 shares of CPB stock in a transaction on Thursday, August 14th. The stock was sold at an average price of $28.62, for a total transaction of $26,416.26. The disclosure for this sale can be found here. Insiders have sold a total of 10,922 shares of company stock worth $318,820 over the last quarter. 2.40% of the stock is owned by company insiders.

CPB 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.