CPB Inc. (CPF) Holdings Raised by BNP Paribas Arbitrage SA
BNP Paribas Arbitrage SA boosted its position in CPB Inc. (NYSE:CPF) by 50.3% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 9,366 shares of the financial services provider’s stock after acquiring an additional 3,133 shares during the period. BNP Paribas Arbitrage SA’s holdings in CPB were worth $295,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently made changes to their positions in the business. Texas Permanent School Fund grew its holdings in CPB by 0.4% in the 2nd quarter. Texas Permanent School Fund now owns 22,368 shares of the financial services provider’s stock worth $704,000 after acquiring an additional 88 shares during the last quarter. Louisiana State Employees Retirement System grew its holdings in CPB by 0.8% in the 1st quarter. Louisiana State Employees Retirement System now owns 12,500 shares of the financial services provider’s stock worth $382,000 after acquiring an additional 100 shares during the last quarter. Arizona State Retirement System grew its holdings in CPB by 1.3% in the 1st quarter. Arizona State Retirement System now owns 16,076 shares of the financial services provider’s stock worth $491,000 after acquiring an additional 200 shares during the last quarter. Los Angeles Capital Management & Equity Research Inc. grew its holdings in CPB by 2.2% in the 1st quarter. Los Angeles Capital Management & Equity Research Inc. now owns 13,917 shares of the financial services provider’s stock worth $425,000 after acquiring an additional 300 shares during the last quarter. Finally, Legal & General Group Plc grew its holdings in CPB by 0.8% in the 1st quarter. Legal & General Group Plc now owns 51,154 shares of the financial services provider’s stock worth $1,562,000 after acquiring an additional 418 shares during the last quarter. 91.38% of the stock is currently owned by institutional investors and hedge funds.
Shares of CPB Inc. (NYSE:CPF) opened at 29.88 on Wednesday. The stock has a market capitalization of $909.52 million, a PE ratio of 19.03 and a beta of 1.16. The stock has a 50 day moving average of $29.42 and a 200 day moving average of $30.55. CPB Inc. has a 52-week low of $24.46 and a 52-week high of $33.55.
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 Zacks’ consensus estimate of $0.40 by ($0.01). The company had revenue of $49.50 million during the quarter, compared to the consensus estimate of $51.40 million. CPB had a return on equity of 9.52% and a net margin of 22.59%. During the same quarter in the previous year, the company posted $0.39 earnings per share. Analysts forecast that CPB Inc. will post $1.64 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, September 15th. Stockholders of record on Thursday, August 31st were issued a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 2.41%. The ex-dividend date was Tuesday, August 29th. CPB’s payout ratio is presently 45.86%.
In related 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 cost of $30.98 per share, for a total transaction of $43,372.00. Following the completion of the acquisition, 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 accessible through this hyperlink. Corporate insiders own 4.10% of the company’s stock.
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CPF has been the topic of a number of recent analyst reports. Zacks Investment Research lowered shares of CPB from a “buy” rating to a “hold” rating in a report on Thursday, June 8th. Piper Jaffray Companies reissued a “hold” rating and issued a $32.50 price target on shares of CPB in a report on Friday, July 14th. Finally, BidaskClub lowered shares of CPB from a “sell” rating to a “strong sell” rating in a report on Friday, July 28th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and one has given a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $31.83.
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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