Central Pacific Financial Corp. (NYSE:CPF) Shares Bought by Balyasny Asset Management L.P.

Balyasny Asset Management L.P. raised its position in Central Pacific Financial Corp. (NYSE:CPF - Free Report) by 48.9% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 90,985 shares of the financial services provider's stock after buying an additional 29,885 shares during the period. Balyasny Asset Management L.P. owned about 0.34% of Central Pacific Financial worth $2,643,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. increased its holdings in Central Pacific Financial by 6.4% in the third quarter. JPMorgan Chase & Co. now owns 431,498 shares of the financial services provider's stock valued at $12,734,000 after buying an additional 26,139 shares in the last quarter. Y Intercept Hong Kong Ltd purchased a new position in Central Pacific Financial in the fourth quarter valued at $413,000. Raymond James Financial Inc. purchased a new position in Central Pacific Financial in the fourth quarter valued at $1,712,000. SBI Securities Co. Ltd. purchased a new position in Central Pacific Financial in the fourth quarter valued at $31,000. Finally, American Century Companies Inc. increased its holdings in Central Pacific Financial by 13.2% in the fourth quarter. American Century Companies Inc. now owns 659,482 shares of the financial services provider's stock valued at $19,158,000 after buying an additional 77,032 shares in the last quarter. Hedge funds and other institutional investors own 88.42% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, StockNews.com raised shares of Central Pacific Financial from a "sell" rating to a "hold" rating in a report on Thursday, March 20th.

Central Pacific Financial Price Performance

Shares of CPF traded down $0.14 during mid-day trading on Friday, hitting $27.46. 101,592 shares of the company were exchanged, compared to its average volume of 204,400. Central Pacific Financial Corp. has a 1-year low of $19.52 and a 1-year high of $33.25. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.85 and a current ratio of 0.85. The company has a 50 day moving average of $26.17 and a 200-day moving average of $28.27. The stock has a market cap of $740.73 million, a price-to-earnings ratio of 13.94 and a beta of 1.02.

Central Pacific Financial (NYSE:CPF - Get Free Report) last released its quarterly earnings results on Wednesday, April 23rd. The financial services provider reported $0.65 earnings per share for the quarter, topping the consensus estimate of $0.63 by $0.02. Central Pacific Financial had a net margin of 15.49% and a return on equity of 12.03%. The firm had revenue of $68.80 million during the quarter, compared to the consensus estimate of $68.93 million. During the same quarter in the prior year, the firm earned $0.48 EPS. Analysts expect that Central Pacific Financial Corp. will post 2.75 EPS for the current fiscal year.

Central Pacific Financial Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Friday, May 30th will be given a dividend of $0.27 per share. The ex-dividend date is Friday, May 30th. This represents a $1.08 annualized dividend and a dividend yield of 3.93%. Central Pacific Financial's dividend payout ratio (DPR) is presently 50.47%.

Insider Buying and Selling

In other Central Pacific Financial news, Director Agnes Catherine Ngo sold 3,333 shares of the stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $27.71, for a total value of $92,357.43. Following the completion of the sale, the director now owns 72,922 shares in the company, valued at approximately $2,020,668.62. This represents a 4.37% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 2.40% of the company's stock.

Central Pacific Financial Company Profile

Central Pacific Financial Corp. operates as the bank holding company for Central Pacific Bank that provides a range of commercial banking products and services to businesses, professionals, and individuals in the United States. It offers various deposit products and services, including checking, savings and time deposits, cash management and digital banking, trust, and retail brokerage services, as well as money market accounts and certificates of deposit.