CPB (NYSE:CPF) Share Price Breaks Above 200-Day Moving Average – Should You Sell?

CPB Inc. (NYSE:CPF)’s stock price crossed above its 200-day moving average during trading on Friday. The stock has a 200-day moving average of $35.85 and traded as high as $37.25. CPB shares last traded at $36.9070, with a volume of 120,189 shares trading hands.

Analysts Set New Price Targets

A number of research firms have issued reports on CPF. Zacks Research downgraded shares of CPB from a “strong-buy” rating to a “hold” rating in a report on Wednesday, August 26th. Weiss Ratings reiterated a “buy (a-)” rating on shares of CPB in a report on Monday, September 14th. Finally, Benchmark initiated coverage on shares of CPB in a research report on Thursday, July 9th. They set a “buy” rating and a $44.00 price target on the stock. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $39.33.

CPB Stock Up 0.2%

The stock has a 50 day moving average price of $38.15 and a 200 day moving average price of $35.85. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.84 and a current ratio of 0.84. The company has a market capitalization of $950.36 million, a P/E ratio of 11.83 and a beta of 0.84.

CPB (NYSE:CPF) last posted its quarterly earnings results on Friday, July 24th. The financial services provider reported $0.80 earnings per share for the quarter, beating the consensus estimate of $0.78 by $0.02. The company had revenue of $77.45 million during the quarter, compared to analyst estimates of $75.69 million. CPB had a net margin of 22.52% and a return on equity of 14.20%. During the same quarter in the prior year, the business earned $0.67 earnings per share. Equities research analysts forecast that CPB Inc. will post 3.32 earnings per share for the current fiscal year.

CPB Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 15th. Stockholders of record on Monday, August 31st were given a dividend of $0.30 per share. The ex-dividend date of this dividend was Monday, August 31st. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.3%. This is an increase from CPB’s previous quarterly dividend of $0.29. CPB’s payout ratio is currently 38.46%.

Institutional Investors Weigh In On CPB

A number of hedge funds have recently modified their holdings of CPF. Globeflex Capital L P purchased a new stake in CPB in the second quarter worth $900,000. Bank of New York Mellon Corp purchased a new position in shares of CPB during the 2nd quarter valued at $11,926,000. Hennion & Walsh Asset Management Inc. lifted its position in shares of CPB by 94.9% during the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 27,727 shares of the financial services provider’s stock valued at $1,059,000 after buying an additional 13,499 shares during the last quarter. Bank of America Corp DE grew its stake in shares of CPB by 27.9% during the 1st quarter. Bank of America Corp DE now owns 83,791 shares of the financial services provider’s stock worth $2,678,000 after acquiring an additional 18,269 shares during the period. Finally, Amundi bought a new position in shares of CPB during the 1st quarter worth $688,000. Institutional investors own 88.42% of the company’s stock.

CPB Company Profile

Central Pacific Financial Corp. is a bank holding company headquartered in Honolulu, Hawaii. Through its principal subsidiary, Central Pacific Bank, the company provides banking and financial services to consumers, businesses, nonprofit organizations and government entities throughout the Hawaiian Islands.

Central Pacific Bank offers deposit products, residential and commercial real estate loans, consumer lending, business loans, treasury management services, online and mobile banking, and wealth management solutions.