CPB Inc. (CPF) Lifted to Hold at Zacks Investment Research
CPB Inc. (NYSE:CPF) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued to investors on Tuesday.
According to Zacks, “Central Pacific Financial Corp. is a Hawaii-based bank holding company. Central Pacific Bank, its subsidiary, is Hawaii’s third largest commercial bank. “
CPF has been the topic of a number of other reports. BidaskClub downgraded shares of CPB from a “sell” rating to a “strong sell” rating in a research note on Friday, July 28th. Piper Jaffray Companies reaffirmed a “hold” rating and set a $32.50 target price on shares of CPB in a research report on Friday, July 14th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $31.83.
CPB (NYSE:CPF) traded down 0.46% during mid-day trading on Tuesday, reaching $32.42. The company’s stock had a trading volume of 125,646 shares. CPB has a one year low of $24.54 and a one year high of $33.55. The firm’s 50 day moving average is $29.66 and its 200-day moving average is $30.57. The stock has a market cap of $986.83 million, a P/E ratio of 20.65 and a beta of 1.18.
CPB (NYSE:CPF) last posted its quarterly earnings results on Wednesday, July 26th. The financial services provider reported $0.39 EPS for the quarter, missing the Thomson Reuters’ consensus estimate 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 during the quarter, compared to analysts’ expectations of $51.40 million. During the same period in the prior year, the business earned $0.39 EPS. Equities analysts expect that CPB will post $1.64 earnings per share for the current fiscal year.
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In other news, Director Paul K. Yonamine purchased 1,400 shares of the business’s stock in a transaction dated Tuesday, August 1st. The shares were purchased at an average price of $30.98 per share, for a total transaction of $43,372.00. Following the completion of the purchase, the director now owns 1,400 shares in the company, valued at approximately $43,372. The purchase was disclosed in a document filed with the SEC, which is available at this link. 4.10% of the stock is currently owned by corporate insiders.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Wells Fargo & Company MN raised its position in shares of CPB by 0.3% in the 1st quarter. Wells Fargo & Company MN now owns 175,970 shares of the financial services provider’s stock worth $5,375,000 after acquiring an additional 473 shares in the last quarter. Great West Life Assurance Co. Can lifted its stake in shares of CPB by 7.8% during the 1st quarter. Great West Life Assurance Co. Can now owns 42,119 shares of the financial services provider’s stock worth $1,285,000 after purchasing an additional 3,030 shares during the last quarter. First Trust Advisors LP lifted its stake in shares of CPB by 80.4% during the 1st quarter. First Trust Advisors LP now owns 62,500 shares of the financial services provider’s stock worth $1,909,000 after purchasing an additional 27,856 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in shares of CPB by 3.0% during the 1st quarter. Bank of New York Mellon Corp now owns 1,180,023 shares of the financial services provider’s stock worth $36,038,000 after purchasing an additional 34,401 shares during the last quarter. Finally, BNP Paribas Arbitrage SA lifted its stake in shares of CPB by 11.2% during the 1st quarter. BNP Paribas Arbitrage SA now owns 6,233 shares of the financial services provider’s stock worth $190,000 after purchasing an additional 630 shares during the last quarter. Hedge funds and other institutional investors own 91.38% 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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