KBC Group NV Trims Stake in CPB Inc. (NYSE:CPF)

KBC Group NV decreased its stake in CPB Inc. (NYSE:CPF) by 10.4% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 39,770 shares of the financial services provider’s stock after selling 4,617 shares during the quarter. KBC Group NV owned 0.13% of CPB worth $1,252,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. State of Alaska Department of Revenue raised its stake in shares of CPB by 1.5% in the 1st quarter. State of Alaska Department of Revenue now owns 3,400 shares of the financial services provider’s stock valued at $103,000 after acquiring an additional 50 shares in the last quarter. BNP Paribas Arbitrage SA raised its stake in shares of 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 acquiring an additional 630 shares in the last quarter. Mason Street Advisors LLC increased 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 worth $220,000 after buying an additional 459 shares during the period. Sei Investments Co. increased 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 worth $306,000 after buying an additional 440 shares during the period. Finally, Teachers Retirement System of The State of Kentucky increased its position in CPB by 38.5% in the 1st quarter. Teachers Retirement System of The State of Kentucky now owns 10,800 shares of the financial services provider’s stock worth $330,000 after buying an additional 3,000 shares during the period. Hedge funds and other institutional investors own 91.40% of the company’s stock.

In other news, Director Paul K. Yonamine bought 1,400 shares of the stock in a transaction that occurred on Tuesday, August 1st. The shares were bought at an average price of $30.98 per share, for a total transaction of $43,372.00. Following the purchase, the director now owns 1,400 shares in the company, valued at $43,372. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 4.10% of the stock is currently owned by insiders.

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CPB Inc. (NYSE CPF) traded up 0.48% during midday trading on Friday, hitting $29.36. The stock had a trading volume of 241,835 shares. The company has a market capitalization of $893.69 million, a PE ratio of 18.70 and a beta of 1.16. The company’s 50-day moving average price is $29.46 and its 200 day moving average price is $30.60. CPB Inc. has a 52 week low of $24.46 and a 52 week high of $33.55.

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

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Thursday, August 31st will be paid a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a dividend yield of 2.45%. The ex-dividend date is Tuesday, August 29th. CPB’s dividend payout ratio is presently 45.86%.

Several analysts have recently weighed in on the company. BidaskClub lowered CPB from a “hold” rating to a “sell” rating in a report on Wednesday, July 12th. Zacks Investment Research lowered CPB from a “hold” rating to a “sell” rating in a research note on Friday, August 4th. Finally, Piper Jaffray Companies reissued a “hold” rating and issued a $32.50 price objective on shares of CPB in a research note on Friday, July 14th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and one has given a buy rating to the company’s stock. CPB currently has an average rating of “Hold” and an average price target of $31.83.

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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