CPB (NYSE:CPF) Hits New 52-Week High – Time to Buy?

by · The Cerbat Gem

CPB Inc. (NYSE:CPFGet Free Report) hit a new 52-week high on Wednesday . The company traded as high as $31.92 and last traded at $32.2010, with a volume of 66311 shares traded. The stock had previously closed at $31.08.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on CPF. 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 target for the company. Keefe, Bruyette & Woods began coverage on CPB in a research note on Wednesday, October 8th. They issued a “market perform” rating and a $34.00 target price for the company. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of CPB in a research report on Monday. Two equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $34.50.

Get Our Latest Stock Analysis on CPB

CPB Trading Up 0.6%

The company has a debt-to-equity ratio of 0.22, a current ratio of 0.86 and a quick ratio of 0.86. The business’s 50-day moving average is $29.58 and its two-hundred day moving average is $28.95. The firm has a market cap of $868.62 million, a P/E ratio of 13.32 and a beta of 0.99.

CPB (NYSE:CPFGet Free Report) last issued its quarterly earnings results on Monday, March 10th. The financial services provider reported $0.58 EPS for the quarter. The firm 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 predict that CPB Inc. will post 2.75 earnings per share for the current fiscal year.

CPB Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Friday, November 28th will be paid a $0.28 dividend. This is a positive change from CPB’s previous quarterly dividend of $0.27. This represents a $1.12 dividend on an annualized basis and a yield of 3.5%. The ex-dividend date is Friday, November 28th. CPB’s dividend payout ratio is 46.09%.

Institutional Investors Weigh In On CPB

Large investors have recently made changes to their positions in the stock. HoldCo Asset Management LP increased its holdings in CPB by 107.8% during the third quarter. HoldCo Asset Management LP now owns 2,281,029 shares of the financial services provider’s stock worth $69,206,000 after buying an additional 1,183,399 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of CPB by 0.6% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,004,487 shares of the financial services provider’s stock valued at $27,161,000 after acquiring an additional 5,648 shares during the period. Basswood Capital Management L.L.C. grew its position in shares of CPB by 11.0% in the 2nd 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 acquiring an additional 88,028 shares during the period. American Century Companies Inc. increased its stake in shares of CPB by 7.8% during the 3rd quarter. American Century Companies Inc. now owns 803,750 shares of the financial services provider’s stock worth $24,386,000 after purchasing an additional 58,207 shares during the last quarter. Finally, Nuveen LLC acquired a new position in shares of CPB during the 1st quarter worth about $11,382,000. Institutional investors and hedge funds own 88.42% of the company’s stock.

CPB Company Profile

(Get Free Report)

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.

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