Bailard Inc. boosted its holdings in shares of Central Pacific Financial Corp. (NYSE:CPF) by 15.4% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 23,200 shares of the financial services provider’s stock after buying an additional 3,100 shares during the quarter. Bailard Inc.’s holdings in Central Pacific Financial were worth $665,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also bought and sold shares of the company. Deutsche Bank AG raised its position in Central Pacific Financial by 103.6% during the 4th quarter. Deutsche Bank AG now owns 83,724 shares of the financial services provider’s stock worth $2,494,000 after buying an additional 42,607 shares during the last quarter. Brown Advisory Inc. purchased a new position in Central Pacific Financial during the 1st quarter worth approximately $2,333,000. Russell Investments Group Ltd. raised its position in Central Pacific Financial by 63.4% during the 1st quarter. Russell Investments Group Ltd. now owns 777,174 shares of the financial services provider’s stock worth $22,119,000 after buying an additional 301,570 shares during the last quarter. Schwab Charles Investment Management Inc. raised its position in Central Pacific Financial by 17.4% during the 1st quarter. Schwab Charles Investment Management Inc. now owns 220,435 shares of the financial services provider’s stock worth $6,274,000 after buying an additional 32,680 shares during the last quarter. Finally, MetLife Investment Advisors LLC purchased a new position in Central Pacific Financial during the 4th quarter worth approximately $452,000. 92.07% of the stock is owned by institutional investors.
In related news, insider Arnold D. Martines sold 1,038 shares of Central Pacific Financial stock in a transaction on Wednesday, June 13th. The shares were sold at an average price of $29.44, for a total value of $30,558.72. Following the sale, the insider now owns 1,104 shares of the company’s stock, valued at approximately $32,501.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Christine H. H. Camp purchased 1,800 shares of the company’s stock in a transaction that occurred on Tuesday, June 19th. The stock was bought at an average cost of $29.80 per share, for a total transaction of $53,640.00. Following the purchase, the director now directly owns 6,112 shares in the company, valued at approximately $182,137.60. The disclosure for this purchase can be found here. 4.30% of the stock is owned by insiders.
Several equities analysts have recently weighed in on the stock. Zacks Investment Research raised shares of Central Pacific Financial from a “sell” rating to a “hold” rating in a report on Monday, June 11th. ValuEngine lowered shares of Central Pacific Financial from a “hold” rating to a “sell” rating in a report on Monday, June 11th.
NYSE:CPF opened at $28.57 on Monday. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.19. The company has a market cap of $816.50 million, a PE ratio of 17.97 and a beta of 1.08. Central Pacific Financial Corp. has a 1-year low of $27.19 and a 1-year high of $33.15.
Central Pacific Financial (NYSE:CPF) last posted its earnings results on Wednesday, July 25th. The financial services provider reported $0.48 earnings per share for the quarter, beating the consensus estimate of $0.47 by $0.01. The firm had revenue of $52.30 million during the quarter, compared to analyst estimates of $52.45 million. Central Pacific Financial had a net margin of 19.71% and a return on equity of 10.54%. analysts expect that Central Pacific Financial Corp. will post 1.94 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Monday, September 17th. Stockholders of record on Friday, August 31st will be issued a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 2.94%. The ex-dividend date of this dividend is Thursday, August 30th. Central Pacific Financial’s dividend payout ratio (DPR) is 52.83%.
Central Pacific Financial Company Profile
Central Pacific Financial Corp. operates as the holding company for Central Pacific Bank that provides commercial banking products and services to businesses, professionals, and individuals in Hawaii. The company operates in three segments: Banking Operations, Treasury, and All Others. It offers various deposit products and services, including personal and business checking and savings accounts, money market accounts, and time certificates of deposit.
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