CPB (NYSE:CPF) Research Coverage Started at Keefe, Bruyette & Woods

Keefe, Bruyette & Woods assumed coverage on shares of CPB (NYSE:CPF) in a research report released on Wednesday morning, MarketBeat reports. The brokerage issued a market perform rating and a $34.00 target price on the financial services provider’s stock.

CPF has been the subject of several other research reports. Weiss Ratings reissued a “buy (b-)” rating on shares of CPB in a research report on Saturday, September 27th. Piper Sandler started coverage on shares of CPB in a report on Thursday, August 21st. They set an “overweight” rating and a $35.00 price objective for the company. Two research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, CPB presently has a consensus rating of “Moderate Buy” and a consensus target price of $34.50.

CPB Stock Down 3.4%

CPF opened at $28.51 on Wednesday. The firm has a market cap of $769.20 million, a P/E ratio of 12.78 and a beta of 1.06. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.85 and a current ratio of 0.85. CPB has a twelve month low of $23.16 and a twelve month high of $33.25. The business has a 50 day moving average price of $29.82 and a 200 day moving average price of $27.87.

CPB (NYSE:CPF) last released its earnings results on Monday, March 10th. The financial services provider reported $0.58 earnings per share for the quarter. The firm had revenue of $66.59 million during the quarter. CPB had a net margin of 17.31% and a return on equity of 12.80%. Research analysts forecast that CPB will post 2.75 EPS for the current year.

CPB Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Friday, August 29th were given a $0.27 dividend. The ex-dividend date was Friday, August 29th. This represents a $1.08 annualized dividend and a dividend yield of 3.8%. CPB’s payout ratio is currently 48.43%.

Insider Buying and Selling

In other CPB news, Director Agnes Catherine Ngo sold 3,333 shares of the company’s stock in a transaction that occurred on Tuesday, August 12th. The stock was sold at an average price of $27.87, for a total transaction of $92,890.71. Following the completion of the transaction, the director owned 65,459 shares of the company’s stock, valued at $1,824,342.33. This represents a 4.85% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Paul Kosasa sold 923 shares of the stock in a transaction that occurred on Thursday, August 14th. The shares were sold at an average price of $28.62, for a total value of $26,416.26. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 10,922 shares of company stock valued at $318,820. Insiders own 2.40% of the company’s stock.

Institutional Trading of CPB

A number of hedge funds have recently made changes to their positions in CPF. Quantbot Technologies LP lifted its holdings in CPB by 114.1% during the 1st quarter. Quantbot Technologies LP now owns 4,027 shares of the financial services provider’s stock valued at $109,000 after purchasing an additional 2,146 shares during the last quarter. CKW Financial Group lifted its position in CPB by 40.9% during the first quarter. CKW Financial Group now owns 4,022 shares of the financial services provider’s stock worth $109,000 after acquiring an additional 1,168 shares during the last quarter. Tower Research Capital LLC TRC lifted its position in CPB by 369.4% during the second quarter. Tower Research Capital LLC TRC now owns 4,065 shares of the financial services provider’s stock worth $114,000 after acquiring an additional 3,199 shares during the last quarter. CWM LLC lifted its holdings in CPB by 17.5% during the 1st quarter. CWM LLC now owns 4,285 shares of the financial services provider’s stock worth $116,000 after purchasing an additional 639 shares during the last quarter. Finally, Semanteon Capital Management LP acquired a new stake in CPB during the 2nd quarter worth approximately $231,000. 88.42% of the stock is owned by institutional investors and hedge funds.

About CPB

Central Pacific Financial Corp. operates as the bank holding company for Central Pacific Bank that provides a range of commercial banking products and services to businesses, professionals, and individuals in the United States. It offers various deposit products and services, including checking, savings and time deposits, cash management and digital banking, trust, and retail brokerage services, as well as money market accounts and certificates of deposit.