State Board of Administration of Florida Retirement System Has $687,000 Position in CPB Inc. (CPF)

State Board of Administration of Florida Retirement System continued to hold its position in shares of CPB Inc. (NYSE:CPF) during the first quarter, Holdings Channel reports. The firm owned 22,491 shares of the financial services provider’s stock at the end of the first quarter. State Board of Administration of Florida Retirement System’s holdings in CPB were worth $687,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the stock. State of Alaska Department of Revenue raised its position in shares of CPB by 1.5% in the first quarter. State of Alaska Department of Revenue now owns 3,400 shares of the financial services provider’s stock valued at $103,000 after buying an additional 50 shares in the last quarter. Capstone Investment Advisors LLC acquired a new position in shares of CPB during the fourth quarter valued at $203,000. A.R.T. Advisors LLC acquired a new position in shares of CPB during the fourth quarter valued at $320,000. Louisiana State Employees Retirement System raised its position in shares of CPB by 0.8% in the first quarter. Louisiana State Employees Retirement System now owns 12,500 shares of the financial services provider’s stock valued at $382,000 after buying an additional 100 shares in the last quarter. Finally, Trexquant Investment LP acquired a new position in shares of CPB during the fourth quarter valued at $528,000. 93.35% of the stock is owned by institutional investors and hedge funds.

Institutional Ownership by Quarter for CPB (NYSE:CPF)

Shares of CPB Inc. (NYSE CPF) opened at 30.83 on Friday. The firm’s 50-day moving average price is $31.23 and its 200 day moving average price is $31.02. The stock has a market capitalization of $944.48 million, a price-to-earnings ratio of 19.64 and a beta of 1.19. CPB Inc. has a 1-year low of $21.88 and a 1-year high of $33.55.

CPB (NYSE:CPF) last posted its quarterly earnings results on Wednesday, April 26th. The financial services provider reported $0.42 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.40 by $0.02. CPB had a net margin of 22.58% and a return on equity of 9.52%. The company had revenue of $51.27 million during the quarter, compared to the consensus estimate of $51.10 million. During the same period last year, the firm earned $0.35 EPS. Equities research analysts expect that CPB Inc. will post $1.64 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 15th. Stockholders of record on Wednesday, May 31st were paid a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 2.34%. This is a boost from CPB’s previous quarterly dividend of $0.16. The ex-dividend date of this dividend was Friday, May 26th. CPB’s dividend payout ratio (DPR) is 45.86%.

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Separately, Zacks Investment Research upgraded CPB from a “hold” rating to a “buy” rating and set a $35.00 price objective for the company in a research note on Friday, June 9th.

In other CPB news, Director Earl E. Fry acquired 1,730 shares of the company’s stock in a transaction dated Tuesday, June 13th. The stock was acquired at an average cost of $32.08 per share, with a total value of $55,498.40. Following the purchase, the director now directly owns 251 shares in the company, valued at approximately $8,052.08. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Over the last three months, insiders have sold 1,500 shares of company stock valued at $47,235. Corporate insiders own 4.10% of the company’s stock.

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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