Rhumbline Advisers grew its position in Central Pacific Financial Corp. (NYSE:CPF) by 0.7% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 100,085 shares of the financial services provider’s stock after acquiring an additional 656 shares during the quarter. Rhumbline Advisers owned about 0.35% of Central Pacific Financial worth $2,670,000 at the end of the most recent reporting period.
Other hedge funds have also recently bought and sold shares of the company. Morgan Stanley boosted its holdings in shares of Central Pacific Financial by 70.2% in the fourth quarter. Morgan Stanley now owns 208,579 shares of the financial services provider’s stock valued at $3,964,000 after acquiring an additional 86,028 shares during the period. Tudor Investment Corp Et Al boosted its holdings in shares of Central Pacific Financial by 137.7% in the fourth quarter. Tudor Investment Corp Et Al now owns 33,649 shares of the financial services provider’s stock valued at $640,000 after acquiring an additional 19,491 shares during the period. Auxier Asset Management boosted its holdings in shares of Central Pacific Financial by 3.0% in the fourth quarter. Auxier Asset Management now owns 101,597 shares of the financial services provider’s stock valued at $1,931,000 after acquiring an additional 3,000 shares during the period. Citigroup Inc. boosted its holdings in shares of Central Pacific Financial by 64.0% in the fourth quarter. Citigroup Inc. now owns 7,790 shares of the financial services provider’s stock valued at $148,000 after acquiring an additional 3,040 shares during the period. Finally, Twin Lakes Capital Management LLC acquired a new stake in shares of Central Pacific Financial in the fourth quarter valued at approximately $2,080,000. 89.98% of the stock is owned by institutional investors and hedge funds.
In other Central Pacific Financial news, Director Saedene K. Ota acquired 1,800 shares of the business’s stock in a transaction on Friday, May 28th. The stock was purchased at an average price of $27.59 per share, for a total transaction of $49,662.00. Following the completion of the transaction, the director now owns 1,659 shares of the company’s stock, valued at approximately $45,771.81. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 3.30% of the company’s stock.
Several research firms have recently weighed in on CPF. Zacks Investment Research raised Central Pacific Financial from a “hold” rating to a “strong-buy” rating and set a $31.00 price objective for the company in a report on Monday, March 15th. Raymond James raised Central Pacific Financial from a “market perform” rating to an “outperform” rating and set a $29.00 price target for the company in a report on Thursday, March 11th.
Shares of NYSE CPF opened at $27.26 on Friday. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.28. The business’s fifty day moving average is $27.61. Central Pacific Financial Corp. has a 1-year low of $12.80 and a 1-year high of $28.81. The firm has a market capitalization of $771.27 million, a P/E ratio of 16.42 and a beta of 1.35.
Central Pacific Financial (NYSE:CPF) last issued its quarterly earnings results on Wednesday, April 28th. The financial services provider reported $0.64 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.51 by $0.13. The firm had revenue of $60.52 million during the quarter, compared to the consensus estimate of $63.05 million. Central Pacific Financial had a return on equity of 8.63% and a net margin of 18.25%. On average, research analysts expect that Central Pacific Financial Corp. will post 2.15 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 15th. Shareholders of record on Friday, May 28th will be given a $0.24 dividend. This is a boost from Central Pacific Financial’s previous quarterly dividend of $0.23. The ex-dividend date is Thursday, May 27th. This represents a $0.96 annualized dividend and a yield of 3.52%. Central Pacific Financial’s dividend payout ratio is presently 72.73%.
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 the United States. The company operates through three segments: Banking Operations, Treasury, and All Others.
Featured Story: How a Back-End Load Mutual Fund Works
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).