Central Pacific Financial Corp. (NYSE:CPF) Position Boosted by New York State Common Retirement Fund

Share on StockTwits

New York State Common Retirement Fund increased its position in Central Pacific Financial Corp. (NYSE:CPF) by 10.2% in the first quarter, HoldingsChannel.com reports. The firm owned 72,000 shares of the financial services provider’s stock after acquiring an additional 6,649 shares during the period. New York State Common Retirement Fund’s holdings in Central Pacific Financial were worth $2,076,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Public Employees Retirement System of Ohio boosted its stake in shares of Central Pacific Financial by 2.3% during the 4th quarter. Public Employees Retirement System of Ohio now owns 17,243 shares of the financial services provider’s stock valued at $420,000 after buying an additional 385 shares during the period. Legal & General Group Plc boosted its stake in shares of Central Pacific Financial by 0.7% during the 4th quarter. Legal & General Group Plc now owns 62,851 shares of the financial services provider’s stock valued at $1,528,000 after buying an additional 426 shares during the period. Texas Permanent School Fund boosted its stake in shares of Central Pacific Financial by 2.6% during the 1st quarter. Texas Permanent School Fund now owns 19,593 shares of the financial services provider’s stock valued at $565,000 after buying an additional 503 shares during the period. Comerica Bank boosted its stake in shares of Central Pacific Financial by 1.9% during the 1st quarter. Comerica Bank now owns 28,746 shares of the financial services provider’s stock valued at $851,000 after buying an additional 545 shares during the period. Finally, Eagle Asset Management Inc. boosted its stake in shares of Central Pacific Financial by 0.6% during the 4th quarter. Eagle Asset Management Inc. now owns 160,420 shares of the financial services provider’s stock valued at $3,906,000 after buying an additional 953 shares during the period. 96.08% of the stock is owned by hedge funds and other institutional investors.

Separately, Zacks Investment Research raised shares of Central Pacific Financial from a “sell” rating to a “hold” rating in a research note on Thursday, June 6th.

Shares of NYSE:CPF opened at $28.86 on Friday. The firm has a market cap of $817.37 million, a price-to-earnings ratio of 13.66 and a beta of 1.02. Central Pacific Financial Corp. has a 12-month low of $23.23 and a 12-month high of $30.82. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.81 and a quick ratio of 0.81.

Central Pacific Financial (NYSE:CPF) last issued its earnings results on Wednesday, April 24th. The financial services provider reported $0.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.52 by $0.03. The company had revenue of $56.79 million during the quarter, compared to analyst estimates of $54.80 million. Central Pacific Financial had a net margin of 24.93% and a return on equity of 12.54%. Equities analysts forecast that Central Pacific Financial Corp. will post 2.1 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Monday, June 17th. Shareholders of record on Friday, May 31st will be paid a dividend of $0.23 per share. The ex-dividend date of this dividend is Thursday, May 30th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 3.19%. This is a positive change from Central Pacific Financial’s previous quarterly dividend of $0.21. Central Pacific Financial’s dividend payout ratio (DPR) is 45.77%.

In other news, Director John C. Dean sold 20,000 shares of the firm’s stock in a transaction on Wednesday, April 24th. The shares were sold at an average price of $30.42, for a total transaction of $608,400.00. Following the transaction, the director now owns 3,398 shares in the company, valued at approximately $103,367.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director John C. Dean sold 10,000 shares of the firm’s stock in a transaction on Friday, April 12th. The shares were sold at an average price of $30.04, for a total transaction of $300,400.00. Following the transaction, the director now owns 3,398 shares in the company, valued at approximately $102,075.92. The disclosure for this sale can be found here. Company insiders own 3.80% of the company’s stock.

WARNING: This piece was originally reported by Macon Daily and is owned by of Macon Daily. If you are reading this piece on another domain, it was illegally copied and reposted in violation of U.S. and international copyright & trademark law. The correct version of this piece can be viewed at https://macondaily.com/2019/06/14/central-pacific-financial-corp-nysecpf-position-boosted-by-new-york-state-common-retirement-fund.html.

Central Pacific Financial 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.

Featured Story: How a Strangle Strategy is different from a Straddle Strategy

Want to see what other hedge funds are holding CPF? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Central Pacific Financial Corp. (NYSE:CPF).

Institutional Ownership by Quarter for Central Pacific Financial (NYSE:CPF)

Receive News & Ratings for Central Pacific Financial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Central Pacific Financial and related companies with MarketBeat.com's FREE daily email newsletter.