Public Employees Retirement System of Ohio lowered its stake in CPB Inc. (NYSE:CPF) by 4.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 14,392 shares of the financial services provider’s stock after selling 720 shares during the quarter. Public Employees Retirement System of Ohio’s holdings in CPB were worth $453,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors and hedge funds also recently modified their holdings of the company. Texas Permanent School Fund grew its stake in CPB by 0.4% during the 2nd quarter. Texas Permanent School Fund now owns 22,368 shares of the financial services provider’s stock valued at $704,000 after acquiring an additional 88 shares in the last quarter. QS Investors LLC grew its stake in CPB by 4.7% during the 2nd quarter. QS Investors LLC now owns 4,532 shares of the financial services provider’s stock valued at $143,000 after acquiring an additional 203 shares in the last quarter. Legal & General Group Plc grew its stake in CPB by 0.8% during the 1st quarter. Legal & General Group Plc now owns 51,154 shares of the financial services provider’s stock valued at $1,562,000 after acquiring an additional 418 shares in the last quarter. Schwab Charles Investment Management Inc. grew its stake in CPB by 0.8% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 175,090 shares of the financial services provider’s stock valued at $5,511,000 after acquiring an additional 1,310 shares in the last quarter. Finally, Great West Life Assurance Co. Can grew its stake in CPB by 3.9% during the 2nd quarter. Great West Life Assurance Co. Can now owns 43,773 shares of the financial services provider’s stock valued at $1,376,000 after acquiring an additional 1,654 shares in the last quarter. 92.23% of the stock is currently owned by hedge funds and other institutional investors.
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CPB Inc. (CPF) opened at $29.69 on Tuesday. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.75 and a current ratio of 0.75. CPB Inc. has a 12 month low of $27.34 and a 12 month high of $33.55. The firm has a market capitalization of $887.86, a PE ratio of 18.53 and a beta of 1.18.
CPB (NYSE:CPF) last announced its quarterly earnings results on Wednesday, October 25th. The financial services provider reported $0.39 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.41 by ($0.02). The firm had revenue of $51.69 million during the quarter, compared to the consensus estimate of $52.43 million. CPB had a net margin of 22.45% and a return on equity of 9.64%. The company’s quarterly revenue was up 3.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.37 EPS. equities research analysts forecast that CPB Inc. will post 1.64 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Thursday, November 30th will be paid a $0.18 dividend. The ex-dividend date of this dividend is Wednesday, November 29th. This represents a $0.72 annualized dividend and a dividend yield of 2.43%. CPB’s payout ratio is 45.28%.
CPF has been the topic of several research analyst reports. BidaskClub cut CPB from a “sell” rating to a “strong sell” rating in a research note on Friday, July 28th. Zacks Investment Research raised CPB from a “sell” rating to a “hold” rating in a research note on Tuesday, October 3rd. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and one has assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $32.50.
In related news, insider Blenn Fujimoto sold 3,350 shares of the business’s stock in a transaction that occurred on Tuesday, November 7th. The stock was sold at an average price of $30.19, for a total value of $101,136.50. Following the completion of the sale, the insider now owns 16,686 shares of the company’s stock, valued at approximately $503,750.34. The sale was disclosed in a document filed with the SEC, which is available at this link. Insiders own 4.10% of the company’s stock.
Central Pacific Financial Corp. is the bank holding company of Central Pacific Bank (the Bank). The Company’s segments include Banking Operations, Treasury and All Others. The Banking Operations segment includes construction and real estate development lending, commercial lending, residential mortgage lending, consumer lending, trust services, retail brokerage services and its retail branch offices, which provide a range of deposit and loan products, as well as various other banking services.
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