CPB Inc. (CPF) Issues Earnings Results
CPB Inc. (NYSE:CPF) announced its quarterly earnings data on Wednesday. The financial services provider reported $0.39 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.41 by ($0.02), Briefing.com reports. The company had revenue of $51.69 million for the quarter, compared to analysts’ expectations of $52.43 million. CPB had a net margin of 22.59% and a return on equity of 9.52%. The firm’s quarterly revenue was up 3.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.37 EPS.
CPB (NYSE CPF) traded down 3.07% on Wednesday, hitting $31.59. The stock had a trading volume of 49,101 shares. The firm has a market cap of $961.57 million, a PE ratio of 20.12 and a beta of 1.18. The company has a 50-day moving average price of $31.08 and a 200 day moving average price of $30.85. CPB has a 52-week low of $24.54 and a 52-week high of $33.55.
A number of research analysts have issued reports on the company. Zacks Investment Research upgraded CPB from a “sell” rating to a “hold” rating in a research note on Tuesday, October 3rd. BidaskClub cut CPB from a “sell” rating to a “strong sell” rating in a research note on Friday, July 28th. Finally, Piper Jaffray Companies restated a “hold” rating and issued a $32.50 price target on shares of CPB in a research note on Friday, July 14th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $30.25.
In other CPB news, Director Paul K. Yonamine acquired 1,400 shares of the stock in a transaction dated Tuesday, August 1st. The stock was purchased at an average price of $30.98 per share, with a total value of $43,372.00. Following the transaction, the director now directly owns 1,400 shares of the company’s stock, valued at $43,372. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. 4.10% of the stock is owned by company insiders.
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.
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