CPB Inc. (NYSE:CPF) Stock Has Average Target Price of $39.00

Shares of CPB Inc. (NYSE:CPF) have earned a consensus recommendation of “Moderate Buy” from the six ratings firms that are currently covering the stock, Marketbeat reports. Three investment analysts have rated the stock with a hold recommendation, two have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $39.00.

Several analysts recently issued reports on CPF shares. Hovde Group began coverage on shares of CPB in a research note on Friday, October 2nd. They set a “market perform” rating and a $38.00 price objective for the company. Weiss Ratings reissued a “buy (a-)” rating on shares of CPB in a research note on Monday, September 14th. Benchmark began coverage on CPB in a report on Thursday, July 9th. They set a “buy” rating and a $44.00 target price on the stock. Finally, Zacks Research cut CPB from a “strong-buy” rating to a “hold” rating in a report on Wednesday, August 26th.

CPB Trading Up 1.2%

Shares of CPF stock opened at $36.25 on Friday. The stock’s fifty day moving average is $37.63 and its two-hundred day moving average is $36.23. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.84 and a current ratio of 0.84. The firm has a market capitalization of $933.44 million, a P/E ratio of 11.62 and a beta of 0.87. CPB has a fifty-two week low of $27.38 and a fifty-two week high of $40.99.

CPB (NYSE:CPF) last released its earnings results on Friday, July 24th. The financial services provider reported $0.80 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.78 by $0.02. The business had revenue of $77.45 million during the quarter, compared to analyst estimates of $75.69 million. CPB had a net margin of 22.52% and a return on equity of 14.20%. During the same quarter in the prior year, the firm earned $0.67 earnings per share. Research analysts expect that CPB will post 3.32 earnings per share for the current fiscal year.

CPB Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 15th. Shareholders of record on Monday, August 31st were issued a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 3.3%. The ex-dividend date was Monday, August 31st. This is an increase from CPB’s previous quarterly dividend of $0.29. CPB’s dividend payout ratio (DPR) is currently 38.46%.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. PNC Financial Services Group Inc. grew its holdings in shares of CPB by 35.5% in the first quarter. PNC Financial Services Group Inc. now owns 2,635 shares of the financial services provider’s stock valued at $84,000 after purchasing an additional 690 shares during the period. Fifth Third Bancorp boosted its holdings in CPB by 1,888.6% in the 1st quarter. Fifth Third Bancorp now owns 5,906 shares of the financial services provider’s stock valued at $189,000 after purchasing an additional 5,609 shares during the last quarter. Caxton Associates LLP acquired a new position in CPB in the 1st quarter valued at about $209,000. Allspring Global Investments Holdings LLC grew its stake in shares of CPB by 11.5% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 8,744 shares of the financial services provider’s stock valued at $279,000 after buying an additional 902 shares during the period. Finally, Louisiana State Employees Retirement System acquired a new stake in shares of CPB during the 1st quarter worth approximately $374,000. Hedge funds and other institutional investors own 88.42% of the company’s stock.

About CPB

Central Pacific Financial Corp. (NYSE: CPF) is a bank holding company headquartered in Honolulu, Hawaii. Its principal subsidiary, Central Pacific Bank, provides banking and financial services to individuals, businesses and nonprofit organizations, with a primary focus on the Hawaii market.

The company offers a range of traditional banking products, including checking and savings accounts, certificates of deposit, residential and commercial real estate loans, consumer loans and business financing.