CPB (NYSE:CPF) Releases Earnings Results, Beats Expectations By $0.02 EPS

CPB (NYSE:CPF) announced its earnings results on Wednesday. The financial services provider reported $0.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.76 by $0.02, Zacks reports. CPB had a net margin of 21.17% and a return on equity of 13.64%.

Here are the key takeaways from CPB’s conference call:

• Strong quarterly earnings: Net income was $20.7 million and EPS was $0.78 (up ~20% YoY), with return on average equity of 13.9%, which management says demonstrates durable organic earnings power.
• Margin and revenue outlook: management guided NIM to 3.50%–3.55% and full-year net interest income growth of 4%–6%, but noted back?book repricing has moderated and competitive pressure on new loan yields could limit upside.
• Loan and deposit growth: total loans rose $31 million to $5.3 billion and deposits increased $90 million to $6.7 billion (core deposits >90%), with a balanced Hawaii/mainland pipeline and a focus on commercial real estate opportunities.
• Healthy credit and capital position: non?performing assets were $14.5 million (19 bps), net charge?offs 18 bps, provision expense $2.4 million, and total risk?based capital ratio was 14.7%, with no material customer impacts identified from recent storms.
• Ongoing capital returns and flexibility: the board declared a $0.29 quarterly dividend, the company repurchased ~$10.5 million of stock this quarter and has ~$44.5 million remaining under the buyback program while retaining capacity to fund loan growth.

CPB Price Performance

CPF traded down $0.68 on Wednesday, hitting $33.93. 39,635 shares of the stock were exchanged, compared to its average volume of 164,896. CPB has a 12 month low of $25.23 and a 12 month high of $35.41. The business has a 50-day moving average of $32.59 and a two-hundred day moving average of $31.62. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.85 and a quick ratio of 0.85. The firm has a market capitalization of $897.11 million, a price-to-earnings ratio of 11.87 and a beta of 0.88.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. O Shaughnessy Asset Management LLC raised its stake in CPB by 4.3% during the fourth quarter. O Shaughnessy Asset Management LLC now owns 9,023 shares of the financial services provider’s stock worth $281,000 after acquiring an additional 369 shares in the last quarter. Royal Bank of Canada raised its stake in CPB by 30.0% during the fourth quarter. Royal Bank of Canada now owns 1,630 shares of the financial services provider’s stock worth $51,000 after acquiring an additional 376 shares in the last quarter. Price T Rowe Associates Inc. MD raised its stake in CPB by 4.5% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 15,201 shares of the financial services provider’s stock worth $474,000 after acquiring an additional 655 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in CPB by 4.4% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,849 shares of the financial services provider’s stock worth $429,000 after acquiring an additional 670 shares in the last quarter. Finally, Brandywine Global Investment Management LLC raised its stake in CPB by 4.9% during the fourth quarter. Brandywine Global Investment Management LLC now owns 16,756 shares of the financial services provider’s stock worth $522,000 after acquiring an additional 780 shares in the last quarter. Institutional investors and hedge funds own 88.42% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on CPF shares. Keefe, Bruyette & Woods upped their price objective on shares of CPB from $36.00 to $37.00 and gave the stock a “market perform” rating in a research report on Thursday, April 9th. Piper Sandler cut their price objective on shares of CPB from $39.00 to $37.00 and set an “overweight” rating for the company in a research report on Thursday, April 2nd. Two research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $37.00.

CPB Company Profile

Charoen Pokphand Foods Public Company Limited (NYSE: CPF) is a Thailand?based integrated agro?industrial and food conglomerate. Headquartered in Bangkok, the company is a subsidiary of the Charoen Pokphand Group and has grown into one of the world’s leading producers of livestock feed, meat and seafood products. CPF’s businesses span animal feed milling, animal breeding and hatchery operations, meat and seafood processing, and the distribution of fresh, frozen and value?added food products.

CPF’s product portfolio includes poultry, swine and aquaculture feed; fresh and frozen chicken and pork; shrimp and other seafood; as well as ready?to?eat and ready?to?cook food items.