CPB (NYSE:CPF) Hits New 1-Year High – Still a Buy?

CPB Inc. (NYSE:CPF)’s stock price reached a new 52-week high on Tuesday . The stock traded as high as $32.86 and last traded at $32.67, with a volume of 177020 shares changing hands. The stock had previously closed at $32.33.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on CPF shares. Keefe, Bruyette & Woods started coverage on shares of CPB in a research report on Wednesday, October 8th. They set a “market perform” rating and a $34.00 price objective on the stock. Weiss Ratings reiterated a “buy (b)” rating on shares of CPB in a research report on Monday. Finally, Piper Sandler initiated coverage on shares of CPB in a report on Thursday, August 21st. They issued an “overweight” rating and a $35.00 price objective for the company. Two equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, CPB currently has an average rating of “Moderate Buy” and an average target price of $34.50.

CPB Stock Up 0.7%

The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.86 and a current ratio of 0.86. The stock’s 50-day moving average price is $29.78 and its two-hundred day moving average price is $29.13. The stock has a market capitalization of $881.10 million, a PE ratio of 13.51 and a beta of 0.99.

CPB (NYSE:CPF) last posted its quarterly earnings data on Monday, March 10th. The financial services provider reported $0.58 EPS for the quarter. The business had revenue of $66.59 million for the quarter. CPB had a net margin of 18.66% and a return on equity of 13.28%. As a group, analysts expect that CPB Inc. will post 2.75 EPS for the current fiscal year.

CPB Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 15th. Investors of record on Friday, November 28th were paid a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 3.4%. The ex-dividend date was Friday, November 28th. This is an increase from CPB’s previous quarterly dividend of $0.27. CPB’s dividend payout ratio (DPR) is currently 46.09%.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. HoldCo Asset Management LP boosted its stake in CPB by 107.8% during the 3rd quarter. HoldCo Asset Management LP now owns 2,281,029 shares of the financial services provider’s stock valued at $69,206,000 after purchasing an additional 1,183,399 shares during the last quarter. Nuveen LLC purchased a new position in shares of CPB in the first quarter worth $11,382,000. Millennium Management LLC lifted its holdings in shares of CPB by 433.6% during the first quarter. Millennium Management LLC now owns 293,335 shares of the financial services provider’s stock valued at $7,932,000 after purchasing an additional 238,367 shares in the last quarter. Qube Research & Technologies Ltd boosted its position in shares of CPB by 371.1% during the second quarter. Qube Research & Technologies Ltd now owns 114,740 shares of the financial services provider’s stock valued at $3,216,000 after buying an additional 90,385 shares during the last quarter. Finally, Basswood Capital Management L.L.C. boosted its position in shares of CPB by 11.0% during the second quarter. Basswood Capital Management L.L.C. now owns 885,753 shares of the financial services provider’s stock valued at $24,828,000 after buying an additional 88,028 shares during the last quarter. Hedge funds and other institutional investors own 88.42% of the company’s stock.

CPB Company Profile

Central Pacific Financial Corp. operates as the bank holding company for Central Pacific Bank that provides a range of commercial banking products and services to businesses, professionals, and individuals in the United States. It offers various deposit products and services, including checking, savings and time deposits, cash management and digital banking, trust, and retail brokerage services, as well as money market accounts and certificates of deposit.