Citadel Advisors LLC Invests $690,000 in CPB Inc. (NYSE:CPF) Stock

Citadel Advisors LLC bought a new position in shares of CPB Inc. (NYSE:CPF) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 21,933 shares of the financial services provider’s stock, valued at approximately $690,000. Citadel Advisors LLC owned 0.07% of CPB as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also modified their holdings of CPF. State of Alaska Department of Revenue increased its holdings in shares of CPB by 77.4% in the 2nd quarter. State of Alaska Department of Revenue now owns 6,030 shares of the financial services provider’s stock worth $189,000 after acquiring an additional 2,630 shares during the period. BNP Paribas Arbitrage SA grew its position in CPB by 11.2% in the 1st quarter. BNP Paribas Arbitrage SA now owns 6,233 shares of the financial services provider’s stock valued at $190,000 after buying an additional 630 shares in the last quarter. Mason Street Advisors LLC grew its position in CPB by 6.8% in the 1st quarter. Mason Street Advisors LLC now owns 7,196 shares of the financial services provider’s stock valued at $220,000 after buying an additional 459 shares in the last quarter. Laurion Capital Management LP bought a new position in CPB in the 2nd quarter valued at about $245,000. Finally, Sei Investments Co. grew its position in CPB by 4.6% in the 1st quarter. Sei Investments Co. now owns 10,021 shares of the financial services provider’s stock valued at $306,000 after buying an additional 440 shares in the last quarter. 91.38% of the stock is currently owned by institutional investors.

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Shares of CPB Inc. (NYSE CPF) opened at 32.54 on Tuesday. The stock has a market capitalization of $990.49 million, a price-to-earnings ratio of 20.73 and a beta of 1.18. The stock has a 50 day moving average of $30.48 and a 200-day moving average of $30.74. CPB Inc. has a 52-week low of $24.54 and a 52-week high of $33.55.

CPB (NYSE:CPF) last announced its earnings results on Wednesday, July 26th. The financial services provider reported $0.39 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.40 by ($0.01). The company had revenue of $49.50 million for the quarter, compared to analysts’ expectations of $51.40 million. CPB had a net margin of 22.59% and a return on equity of 9.52%. During the same period in the previous year, the firm earned $0.39 EPS. On average, equities research analysts predict that CPB Inc. will post $1.64 EPS for the current fiscal year.

In other CPB news, Director Paul K. Yonamine purchased 1,400 shares of the company’s stock in a transaction that occurred on Tuesday, August 1st. The shares were acquired 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 of the company’s stock, valued at approximately $43,372. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 4.10% of the company’s stock.

Several equities analysts have recently weighed in on the stock. Zacks Investment Research upgraded shares of CPB from a “sell” rating to a “hold” rating in a research report on Tuesday, October 3rd. BidaskClub lowered shares of CPB from a “hold” rating to a “sell” rating in a research report on Wednesday, July 12th. Finally, Piper Jaffray Companies reiterated a “hold” rating and issued a $32.50 target price on shares of CPB in a report on Friday, July 14th. One research analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the stock. CPB has an average rating of “Hold” and a consensus target price of $30.25.

About CPB

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.

Institutional Ownership by Quarter for CPB (NYSE:CPF)

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