Teachers Advisors LLC Increases Position in CPB Inc. (NYSE:CPF)
Teachers Advisors LLC increased its position in shares of CPB Inc. (NYSE:CPF) by 27.9% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 102,650 shares of the financial services provider’s stock after buying an additional 22,375 shares during the period. Teachers Advisors LLC’s holdings in CPB were worth $3,135,000 at the end of the most recent quarter.
A number of other large investors also recently made changes to their positions in the stock. Comerica Bank raised its stake in CPB by 3.5% in the first quarter. Comerica Bank now owns 34,028 shares of the financial services provider’s stock valued at $1,083,000 after buying an additional 1,139 shares during the period. BNP Paribas Arbitrage SA raised its stake in CPB by 11.2% in the first quarter. BNP Paribas Arbitrage SA now owns 6,233 shares of the financial services provider’s stock valued at $190,000 after buying an additional 630 shares during the period. Bank of New York Mellon Corp raised its stake in CPB by 3.0% in the first quarter. Bank of New York Mellon Corp now owns 1,180,023 shares of the financial services provider’s stock valued at $36,038,000 after buying an additional 34,401 shares during the period. Boston Partners raised its stake in CPB by 2.2% in the first quarter. Boston Partners now owns 561,935 shares of the financial services provider’s stock valued at $17,161,000 after buying an additional 12,100 shares during the period. Finally, First Trust Advisors LP raised its stake in CPB by 80.4% in the first quarter. First Trust Advisors LP now owns 62,500 shares of the financial services provider’s stock valued at $1,909,000 after buying an additional 27,856 shares during the period. Institutional investors and hedge funds own 92.74% of the company’s stock.
Shares of CPB Inc. (CPF) traded down 0.82% on Friday, reaching $29.20. 114,325 shares of the company traded hands. The company has a 50-day moving average of $31.06 and a 200-day moving average of $31.05. The stock has a market capitalization of $888.82 million, a price-to-earnings ratio of 18.60 and a beta of 1.15. CPB Inc. has a 1-year low of $24.46 and a 1-year high of $33.55.
CPB (NYSE:CPF) last announced its earnings results on Wednesday, July 26th. The financial services provider reported $0.39 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.40 by $0.01. CPB had a net margin of 22.59% and a return on equity of 9.52%. The company had revenue of $49.50 million during the quarter, compared to analyst estimates of $51.40 million. During the same quarter last year, the business earned $0.39 EPS. Analysts anticipate that CPB Inc. will post $1.64 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Thursday, August 31st will be given a $0.18 dividend. The ex-dividend date of this dividend is Tuesday, August 29th. This represents a $0.72 annualized dividend and a dividend yield of 2.47%. CPB’s dividend payout ratio (DPR) is 45.86%.
Several research firms have recently commented on CPF. Zacks Investment Research lowered CPB from a “buy” rating to a “hold” rating in a research note on Monday, July 3rd. BidaskClub lowered CPB from a “hold” rating to a “sell” rating in a research note on Wednesday, July 12th. Finally, Piper Jaffray Companies restated a “hold” rating and issued a $32.50 price objective on shares of CPB in a research note on Friday, July 14th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has assigned a buy rating to the stock. CPB currently has an average rating of “Hold” and an average target price of $31.83.
In related news, Director Paul K. Yonamine bought 1,400 shares of the company’s stock in a transaction dated Tuesday, August 1st. The shares were acquired at an average price of $30.98 per share, for a total transaction of $43,372.00. Following the completion of the transaction, the director now directly owns 1,400 shares in the company, valued at $43,372. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Earl E. Fry bought 1,730 shares of the company’s stock in a transaction dated Tuesday, June 13th. The stock was bought at an average price of $32.08 per share, for a total transaction of $55,498.40. Following the transaction, the director now owns 251 shares of the company’s stock, valued at $8,052.08. The disclosure for this purchase can be found here. 4.10% of the stock is owned by company insiders.
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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