CPB Inc. (NYSE:CPF) Announces Quarterly Earnings Results
CPB Inc. (NYSE:CPF) posted its earnings results on Wednesday. The financial services provider reported $0.39 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.40 by $0.01, RTT News reports. CPB had a return on equity of 9.52% and a net margin of 22.58%. During the same quarter last year, the company earned $0.39 EPS.
CPB (NYSE:CPF) traded down 4.86% during midday trading on Wednesday, reaching $30.17. 161,552 shares of the company traded hands. The stock has a market capitalization of $924.26 million, a P/E ratio of 19.22 and a beta of 1.16. The company has a 50 day moving average of $31.43 and a 200-day moving average of $31.05. CPB has a 12-month low of $23.99 and a 12-month high of $33.55.
The firm also recently announced 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 dividend on an annualized basis and a yield of 2.27%. CPB’s dividend payout ratio is presently 45.86%.
Several research firms have commented on CPF. BidaskClub downgraded shares of CPB from a “hold” rating to a “sell” rating in a research report on Wednesday, July 12th. Piper Jaffray Companies reaffirmed a “hold” rating and issued a $32.50 price target on shares of CPB in a research report on Friday, July 14th. Finally, Zacks Investment Research cut shares of CPB from a “buy” rating to a “hold” rating in a research note on Thursday, June 8th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the stock. CPB currently has an average rating of “Hold” and an average target price of $30.38.
In other news, Director Earl E. Fry purchased 1,730 shares of the company’s stock in a transaction that occurred on Tuesday, June 13th. The shares were bought at an average cost of $32.08 per share, with a total value of $55,498.40. Following the completion of the transaction, the director now directly owns 251 shares of the company’s stock, valued at $8,052.08. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders sold 1,500 shares of company stock worth $47,235 over the last ninety days. Insiders own 4.10% of the company’s stock.
CPB Company Profile
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.
Receive News & Ratings for CPB Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CPB Inc. and related companies with MarketBeat.com's FREE daily email newsletter.