CPB Inc. (NYSE:CPF) Stock Now Rated “Moderate Buy” by Sell-Side Analysts

CPB Inc. (NYSE:CPF) has been given a consensus recommendation of “Moderate Buy” by the six ratings firms that are currently covering the stock, MarketBeat Ratings reports. Three analysts have rated the stock with a hold recommendation, two have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $39.00.

A number of brokerages have recently commented on CPF. Weiss Ratings reiterated a “buy (a-)” rating on shares of CPB in a research note on Monday, September 14th. Hovde Group began coverage on CPB in a report on Friday. They set a “market perform” rating and a $38.00 price target on the stock. Zacks Research lowered shares of CPB from a “strong-buy” rating to a “hold” rating in a report on Wednesday, August 26th. Finally, Benchmark initiated coverage on shares of CPB in a research note on Thursday, July 9th. They set a “buy” rating and a $44.00 price target for the company.

CPB Price Performance

Shares of CPF stock opened at $36.03 on Friday. The business has a fifty day simple moving average of $37.93 and a 200 day simple moving average of $36.03. The company has a market cap of $927.72 million, a P/E ratio of 11.55 and a beta of 0.87. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.13. CPB has a twelve month low of $27.38 and a twelve month high of $40.99.

CPB (NYSE:CPF) last issued its earnings results on Friday, July 24th. The financial services provider reported $0.80 EPS for the quarter, topping the consensus estimate of $0.78 by $0.02. The firm had revenue of $77.45 million during the quarter, compared to the consensus estimate of $75.69 million. CPB had a return on equity of 14.20% and a net margin of 22.52%.During the same quarter in the previous year, the firm earned $0.67 earnings per share. On average, sell-side analysts forecast that CPB will post 3.32 EPS for the current fiscal year.

CPB Increases Dividend

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

Institutional Trading of CPB

Several large investors have recently modified their holdings of the stock. PNC Financial Services Group Inc. raised its holdings in shares of CPB by 35.5% during the first quarter. PNC Financial Services Group Inc. now owns 2,635 shares of the financial services provider’s stock valued at $84,000 after purchasing an additional 690 shares during the period. Fifth Third Bancorp increased its stake in CPB by 1,888.6% during the 1st quarter. Fifth Third Bancorp now owns 5,906 shares of the financial services provider’s stock valued at $189,000 after purchasing an additional 5,609 shares in the last quarter. Caxton Associates LLP acquired a new position in shares of CPB during the first quarter valued at about $209,000. Allspring Global Investments Holdings LLC lifted its position in CPB by 11.5% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 8,744 shares of the financial services provider’s stock valued at $279,000 after acquiring an additional 902 shares in the last quarter. Finally, Louisiana State Employees Retirement System bought a new stake in CPB during the 1st quarter worth approximately $374,000. Institutional investors and hedge funds 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.