CPB Inc. (NYSE:CPF) Stock Has Consensus Price Target of $39.00 According to Analysts

CPB Inc. (NYSE:CPF) has been assigned an average rating of “Moderate Buy” from the six analysts that are covering the stock, MarketBeat Ratings reports. Three research analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $39.00.

CPF has been the topic of several recent research reports. Zacks Research lowered shares of CPB from a “strong-buy” rating to a “hold” rating in a report on Wednesday, August 26th. Benchmark started coverage on CPB in a research note on Thursday, July 9th. They set a “buy” rating and a $44.00 price objective on the stock. Weiss Ratings downgraded CPB from a “buy (a-)” rating to a “buy (b+)” rating in a report on Thursday, October 8th. Finally, Hovde Group started coverage on CPB in a report on Friday, October 2nd. They issued a “market perform” rating and a $38.00 price objective on the stock.

CPB Stock Performance

Shares of NYSE CPF opened at $37.62 on Tuesday. The stock has a market cap of $968.84 million, a price-to-earnings ratio of 12.06 and a beta of 0.87. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.13. CPB has a 1-year low of $28.09 and a 1-year high of $40.99. The stock’s 50-day moving average is $37.01 and its 200 day moving average is $35.27.

CPB (NYSE:CPF) last issued its earnings results on Friday, July 24th. The financial services provider reported $0.80 earnings per share (EPS) for the quarter, topping the consensus estimate 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 return on equity of 14.20% and a net margin of 22.52%. During the same quarter in the prior year, the firm earned $0.67 earnings per share. On average, sell-side analysts anticipate that CPB will post 3.32 EPS for the current fiscal year.

Institutional Trading of CPB

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CPF. Globeflex Capital L P purchased a new stake in CPB in the second quarter worth about $900,000. Bank of New York Mellon Corp purchased a new position in CPB during the second quarter valued at $11,926,000. Hennion & Walsh Asset Management Inc. boosted its holdings in CPB by 94.9% in the second quarter. Hennion & Walsh Asset Management Inc. now owns 27,727 shares of the financial services provider’s stock worth $1,059,000 after acquiring an additional 13,499 shares in the last quarter. Bank of America Corp DE boosted its holdings in CPB by 27.9% in the first quarter. Bank of America Corp DE now owns 83,791 shares of the financial services provider’s stock worth $2,678,000 after acquiring an additional 18,269 shares in the last quarter. Finally, Amundi bought a new stake in CPB in the first quarter worth $688,000. Hedge funds and other institutional investors own 88.42% of the company’s stock.

CPB Company Profile

Central Pacific Financial Corp. is the bank holding company for Central Pacific Bank, a community-focused financial institution headquartered in Honolulu, Hawaii. Central Pacific Bank serves consumers, businesses, nonprofit organizations and government entities, with a focus on customers throughout the Hawaiian Islands.

The bank provides a range of financial products and services, including checking and savings accounts, certificates of deposit, consumer lending, residential mortgages, commercial and small-business loans, commercial real estate financing, and treasury management services.