The Spark Investment Management LLC Invests $403,000 in CPB Inc. (CPF)

The Spark Investment Management LLC Invests $403,000 in CPB Inc. (CPF)

Spark Investment Management LLC purchased a new position in CPB Inc. (NYSE:CPF) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 16,000 shares of the financial services provider’s stock, valued at approximately $403,000. Spark Investment Management LLC owned about 0.05% of CPB at the end of the most recent reporting period.

A number of other institutional investors also recently added to or reduced their stakes in the company. Municipal Employees Retirement System of Michigan raised its stake in shares of CPB by 1.6% in the third quarter. Municipal Employees Retirement System of Michigan now owns 6,890 shares of the financial services provider’s stock worth $174,000 after buying an additional 110 shares during the last quarter. Arizona State Retirement System raised its stake in shares of CPB by 1.3% in the second quarter. Arizona State Retirement System now owns 16,176 shares of the financial services provider’s stock worth $382,000 after buying an additional 200 shares during the last quarter. Aperio Group LLC raised its stake in shares of CPB by 3.6% in the third quarter. Aperio Group LLC now owns 10,315 shares of the financial services provider’s stock worth $260,000 after buying an additional 355 shares during the last quarter. Teacher Retirement System of Texas raised its stake in shares of CPB by 14.0% in the second quarter. Teacher Retirement System of Texas now owns 4,388 shares of the financial services provider’s stock worth $104,000 after buying an additional 540 shares during the last quarter. Finally, California State Teachers Retirement System raised its stake in shares of CPB by 0.9% in the third quarter. California State Teachers Retirement System now owns 64,091 shares of the financial services provider’s stock worth $1,614,000 after buying an additional 600 shares during the last quarter. 93.49% of the stock is owned by institutional investors and hedge funds.

CPB Inc. (NYSE:CPF) traded up 0.95% during midday trading on Wednesday, reaching $29.88. 68,864 shares of the company were exchanged. The firm has a market capitalization of $921.20 million, a PE ratio of 20.62 and a beta of 1.15. CPB Inc. has a 52 week low of $18.47 and a 52 week high of $31.99. The company has a 50-day moving average of $30.92 and a 200 day moving average of $26.85.

CPB (NYSE:CPF) last announced its quarterly earnings data on Thursday, October 27th. The financial services provider reported $0.37 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.38 by $0.01. CPB had a net margin of 22.03% and a return on equity of 8.96%. During the same quarter in the previous year, the business earned $0.38 EPS. Equities analysts predict that CPB Inc. will post $1.48 earnings per share for the current year.

A number of brokerages have recently weighed in on CPF. Zacks Investment Research upgraded shares of CPB from a “sell” rating to a “hold” rating in a report on Friday, December 9th. Raymond James Financial, Inc. lowered shares of CPB from an “outperform” rating to a “market perform” rating in a report on Thursday, December 15th. Finally, Compass Point upgraded shares of CPB from a “neutral” rating to a “buy” rating and set a $28.00 price objective for the company in a report on Friday, October 28th. Five research analysts have rated the stock with a hold rating, The company currently has a consensus rating of “Hold” and an average target price of $25.80.

In other CPB news, insider John C. Dean sold 13,764 shares of the stock in a transaction that occurred on Friday, November 25th. The shares were sold at an average price of $30.32, for a total transaction of $417,324.48. Following the completion of the sale, the insider now directly owns 8,122 shares of the company’s stock, valued at approximately $246,259.04. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider John C. Dean sold 3,980 shares of the stock in a transaction that occurred on Friday, December 9th. The shares were sold at an average price of $31.83, for a total transaction of $126,683.40. Following the sale, the insider now directly owns 8,122 shares of the company’s stock, valued at $258,523.26. The disclosure for this sale can be found here. Company insiders own 4.20% of the company’s stock.

CPB Company Profile

Central Pacific Financial Corp. serves as the bank holding company for its bank subsidiary, Central Pacific Bank (the bank). The Company’s segments include Banking Operations, Treasury and All Others. The Banking Operations segment includes construction and commercial real estate lending, commercial lending, residential mortgage lending, consumer lending, trust services, retail brokerage services, and the Company’s retail branch offices, which provide a range of deposit and loan products, as well as various other banking services.

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