CPB Inc. (CPF) To Go Ex-Dividend on August 29th
CPB Inc. (NYSE:CPF) announced a quarterly dividend on Wednesday, July 26th, RTT News reports. Shareholders of record on Thursday, August 31st will be paid a dividend of 0.18 per share by the financial services provider on Friday, September 15th. This represents a $0.72 annualized dividend and a yield of 2.47%. The ex-dividend date of this dividend is Tuesday, August 29th.
CPB has increased its dividend by an average of 55.4% per year over the last three years. CPB has a payout ratio of 43.9% indicating that its dividend is sufficiently covered by earnings. Analysts expect CPB to earn $1.79 per share next year, which means the company should continue to be able to cover its $0.72 annual dividend with an expected future payout ratio of 40.2%.
Shares of CPB (CPF) opened at 29.14 on Monday. CPB has a 52-week low of $24.46 and a 52-week high of $33.55. The stock’s 50 day moving average price is $30.44 and its 200-day moving average price is $30.90. The firm has a market capitalization of $886.99 million, a PE ratio of 18.56 and a beta of 1.15.
CPB (NYSE:CPF) last released its quarterly earnings results on Wednesday, July 26th. The financial services provider reported $0.39 EPS for the quarter, missing analysts’ consensus estimates of $0.40 by $0.01. CPB had a return on equity of 9.52% and a net margin of 22.59%. The company had revenue of $49.50 million for the quarter, compared to the consensus estimate of $51.40 million. During the same quarter last year, the firm posted $0.39 earnings per share. Equities research analysts anticipate that CPB will post $1.64 EPS for the current fiscal year.
In other CPB news, Director Paul K. Yonamine acquired 1,400 shares of the stock in a transaction dated Tuesday, August 1st. The shares were bought at an average price of $30.98 per share, with a total value of $43,372.00. Following the purchase, the director now directly owns 1,400 shares of the company’s stock, valued at approximately $43,372. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Earl E. Fry acquired 1,730 shares of the stock in a transaction dated Tuesday, June 13th. The stock was acquired at an average cost of $32.08 per share, for a total transaction of $55,498.40. Following the purchase, the director now directly owns 251 shares in the company, valued at $8,052.08. The disclosure for this purchase can be found here. 4.10% of the stock is currently owned by insiders.
A number of analysts have commented on CPF shares. Zacks Investment Research upgraded shares of CPB from a “hold” rating to a “buy” rating and set a $35.00 price target on the stock in a research report on Friday, June 9th. Piper Jaffray Companies restated a “hold” rating and set a $32.50 price target on shares of CPB in a research report on Friday, July 14th. Finally, BidaskClub downgraded shares of CPB from a “sell” rating to a “strong sell” rating in a research report on Friday, July 28th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and one has given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $31.83.
CPB Company Profile
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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