Boston Partners Increases Stake in CPB Inc. (CPF)

Boston Partners boosted its position in shares of CPB Inc. (NYSE:CPF) by 6.9% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 520,715 shares of the financial services provider’s stock after acquiring an additional 33,820 shares during the quarter. Boston Partners owned 1.71% of CPB worth $16,757,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Bank of America Corp DE raised its position in CPB by 11.4% during the first quarter. Bank of America Corp DE now owns 226,798 shares of the financial services provider’s stock worth $6,927,000 after acquiring an additional 23,285 shares in the last quarter. Prudential Financial Inc. raised its position in CPB by 4.9% during the second quarter. Prudential Financial Inc. now owns 146,178 shares of the financial services provider’s stock worth $4,600,000 after acquiring an additional 6,793 shares in the last quarter. Principal Financial Group Inc. raised its position in CPB by 5.2% during the second quarter. Principal Financial Group Inc. now owns 1,190,591 shares of the financial services provider’s stock worth $37,468,000 after acquiring an additional 58,683 shares in the last quarter. Dimensional Fund Advisors LP raised its position in CPB by 1.1% during the first quarter. Dimensional Fund Advisors LP now owns 1,453,155 shares of the financial services provider’s stock worth $44,380,000 after acquiring an additional 15,493 shares in the last quarter. Finally, BlackRock Inc. raised its position in CPB by 12,207.6% during the first quarter. BlackRock Inc. now owns 5,098,913 shares of the financial services provider’s stock worth $155,721,000 after acquiring an additional 5,057,484 shares in the last quarter. 92.23% of the stock is currently owned by hedge funds and other institutional investors.

In related news, insider Blenn Fujimoto sold 3,350 shares of the company’s stock in a transaction dated Tuesday, November 7th. The shares were sold at an average price of $30.19, for a total value of $101,136.50. Following the transaction, the insider now directly owns 16,686 shares in the company, valued at $503,750.34. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 4.10% of the company’s stock.

CPB Inc. (NYSE:CPF) opened at $29.69 on Tuesday. The firm has a market cap of $887.86, a PE ratio of 18.53 and a beta of 1.18. CPB Inc. has a 1 year low of $27.34 and a 1 year high of $33.55. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.75 and a quick ratio of 0.75.

CPB (NYSE:CPF) last issued its quarterly earnings data on Wednesday, October 25th. The financial services provider reported $0.39 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.41 by ($0.02). The company had revenue of $51.69 million during the quarter, compared to the consensus estimate of $52.43 million. CPB had a net margin of 22.45% and a return on equity of 9.64%. CPB’s revenue for the quarter was up 3.1% compared to the same quarter last year. During the same period in the previous year, the company earned $0.37 earnings per share. sell-side analysts predict that CPB Inc. will post 1.64 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Thursday, November 30th will be paid a $0.18 dividend. The ex-dividend date is Wednesday, November 29th. This represents a $0.72 annualized dividend and a dividend yield of 2.43%. CPB’s dividend payout ratio (DPR) is presently 45.28%.

Several research firms have issued reports on CPF. Zacks Investment Research lowered shares of CPB from a “hold” rating to a “sell” rating in a research report on Friday, November 3rd. BidaskClub lowered shares of CPB from a “sell” rating to a “strong sell” rating in a research report on Friday, July 28th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and one has assigned a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $32.50.

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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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