American Century Companies Inc. bought a new position in shares of CPB Inc. (NYSE:CPF) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 102,871 shares of the financial services provider’s stock, valued at approximately $3,237,000. American Century Companies Inc. owned 0.34% of CPB at the end of the most recent quarter.
Other hedge funds and other institutional investors have also modified their holdings of the company. Bank of America Corp DE boosted its stake in shares of CPB by 11.4% during the 1st quarter. Bank of America Corp DE now owns 226,798 shares of the financial services provider’s stock worth $6,927,000 after acquiring an additional 23,285 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of CPB by 1.1% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,453,155 shares of the financial services provider’s stock worth $44,380,000 after acquiring an additional 15,493 shares during the period. BlackRock Inc. boosted its stake in shares of CPB by 12,207.6% during the 1st quarter. BlackRock Inc. now owns 5,098,913 shares of the financial services provider’s stock worth $155,721,000 after acquiring an additional 5,057,484 shares during the period. AQR Capital Management LLC boosted its stake in shares of CPB by 19.0% during the 1st quarter. AQR Capital Management LLC now owns 352,981 shares of the financial services provider’s stock worth $10,780,000 after acquiring an additional 56,330 shares during the period. Finally, Bank of New York Mellon Corp boosted 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 acquiring an additional 34,401 shares during the period. Institutional investors own 91.40% of the company’s stock.
Shares of CPB Inc. (CPF) opened at 29.36 on Wednesday. CPB Inc. has a 1-year low of $24.46 and a 1-year high of $33.55. The company has a 50-day moving average price of $29.65 and a 200 day moving average price of $30.66. The company has a market capitalization of $893.69 million, a P/E ratio of 18.70 and a beta of 1.16.
CPB (NYSE:CPF) last announced its quarterly earnings data on Wednesday, July 26th. The financial services provider reported $0.39 earnings per share for the quarter, missing the 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 firm had revenue of $49.50 million for the quarter, compared to the consensus estimate of $51.40 million. During the same period last year, the company posted $0.39 earnings per share. Equities research analysts anticipate that CPB Inc. will post $1.64 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Thursday, August 31st will be issued a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 2.45%. The ex-dividend date is Tuesday, August 29th. CPB’s dividend payout ratio (DPR) is 45.86%.
Several brokerages have recently commented on CPF. Zacks Investment Research downgraded CPB from a “hold” rating to a “sell” rating in a research note on Friday, August 4th. BidaskClub downgraded CPB from a “sell” rating to a “strong sell” rating in a research note on Friday, July 28th. Finally, Piper Jaffray Companies reiterated a “hold” rating and set a $32.50 target price 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 issued a hold rating and one has given a buy rating to the company. CPB currently has an average rating of “Hold” and a consensus target price of $31.83.
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In other news, Director Paul K. Yonamine acquired 1,400 shares of CPB stock in a transaction on Tuesday, August 1st. The stock was acquired at an average cost of $30.98 per share, with a total value of $43,372.00. Following the completion of the acquisition, the director now owns 1,400 shares in the company, valued at $43,372. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 4.10% of the stock is currently owned by corporate 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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