CPB Inc. (NYSE:CPF) Declares Dividend Increase – $0.31 Per Share

CPB Inc. (NYSE:CPF) declared a quarterly dividend on Tuesday, October 27th. Stockholders of record on Monday, November 30th will be given a dividend of $0.31 per share by the financial services provider on Tuesday, December 15th. This represents a $1.24 annualized dividend and a dividend yield of 3.3%. The ex-dividend date of this dividend is Monday, November 30th. This is a 3.3% increase from CPB’s previous quarterly dividend of $0.30.

CPB has a payout ratio of 37.7% meaning its dividend is sufficiently covered by earnings. Research analysts expect CPB to earn $3.63 per share next year, which means the company should continue to be able to cover its $1.20 annual dividend with an expected future payout ratio of 33.1%.

CPB Trading Up 0.4%

Shares of CPB stock opened at $37.96 on Thursday. The firm has a market cap of $977.36 million, a price-to-earnings ratio of 12.17 and a beta of 0.87. The business has a 50-day moving average price of $37.00 and a 200-day moving average price of $35.33. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.13. CPB has a twelve month low of $28.09 and a twelve month high of $40.99.

CPB (NYSE:CPF) last posted its earnings results on Wednesday, October 28th. The financial services provider reported $0.88 earnings per share for the quarter, beating analysts’ consensus estimates of $0.85 by $0.03. CPB had a net margin of 22.52% and a return on equity of 14.20%. The firm had revenue of $76.83 million during the quarter, compared to analyst estimates of $77.27 million. Equities research analysts anticipate that CPB will post 3.32 EPS for the current fiscal year.

Analysts Set New Price Targets

CPF has been the topic of a number of recent research reports. Benchmark began coverage on CPB in a research report on Thursday, July 9th. They set a “buy” rating and a $44.00 price objective on the stock. Weiss Ratings upgraded CPB from a “buy (b+)” rating to a “buy (a-)” rating in a report on Tuesday. Hovde Group started coverage on CPB in a research report on Friday, October 2nd. They set a “market perform” rating and a $38.00 target price on the stock. Finally, Zacks Research lowered CPB from a “strong-buy” rating to a “hold” rating in a report on Wednesday, August 26th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $39.00.

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.