Nuveen Asset Management LLC Boosts Stock Position in Central Pacific Financial Corp. (NYSE:CPF)

Nuveen Asset Management LLC raised its position in Central Pacific Financial Corp. (NYSE:CPF - Free Report) by 3.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 421,317 shares of the financial services provider's stock after buying an additional 13,406 shares during the quarter. Nuveen Asset Management LLC owned 1.56% of Central Pacific Financial worth $12,239,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in shares of Central Pacific Financial by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 2,124,330 shares of the financial services provider's stock worth $61,712,000 after purchasing an additional 20,196 shares in the last quarter. American Century Companies Inc. boosted its stake 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. Geode Capital Management LLC boosted its stake in Central Pacific Financial by 0.6% in the fourth quarter. Geode Capital Management LLC now owns 644,390 shares of the financial services provider's stock valued at $18,724,000 after buying an additional 4,021 shares in the last quarter. Renaissance Technologies LLC boosted its stake in Central Pacific Financial by 11.6% in the fourth quarter. Renaissance Technologies LLC now owns 637,053 shares of the financial services provider's stock valued at $18,506,000 after buying an additional 66,053 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its stake in Central Pacific Financial by 36.6% in the fourth quarter. JPMorgan Chase & Co. now owns 589,609 shares of the financial services provider's stock valued at $17,128,000 after buying an additional 158,111 shares in the last quarter. 88.42% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, Wall Street Zen upgraded Central Pacific Financial from a "sell" rating to a "hold" rating in a research report on Thursday, March 20th.

Central Pacific Financial Trading Down 1.0%

Central Pacific Financial stock traded down $0.28 during trading hours on Friday, hitting $26.65. The stock had a trading volume of 265,507 shares, compared to its average volume of 206,632. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.35. The stock has a market cap of $718.91 million, a price-to-earnings ratio of 13.53 and a beta of 1.02. Central Pacific Financial Corp. has a one year low of $19.52 and a one year high of $33.25. The business's 50 day simple moving average is $26.13 and its 200-day simple moving average is $28.09.

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

Central Pacific Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Stockholders 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 dividend on an annualized basis and a dividend yield of 4.05%. Central Pacific Financial's dividend payout ratio (DPR) is 50.47%.

Insider Transactions at Central Pacific Financial

In other Central Pacific Financial news, Director Agnes Catherine Ngo sold 3,333 shares of Central Pacific Financial stock in a transaction that occurred on Monday, May 12th. The stock was 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 directly owns 72,922 shares in the company, valued at approximately $2,020,668.62. The trade was a 4.37% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 2.40% of the stock is owned by corporate insiders.

About Central Pacific Financial

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.