Lazard Asset Management LLC Has $1.19 Million Position in Central Pacific Financial Corp. (NYSE:CPF)

Lazard Asset Management LLC lifted its position in shares of Central Pacific Financial Corp. (NYSE:CPF - Free Report) by 45.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 40,965 shares of the financial services provider's stock after buying an additional 12,835 shares during the period. Lazard Asset Management LLC owned about 0.15% of Central Pacific Financial worth $1,190,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Y Intercept Hong Kong Ltd acquired a new position in shares of Central Pacific Financial during the fourth quarter worth about $413,000. Raymond James Financial Inc. acquired a new position in shares of Central Pacific Financial during the fourth quarter worth about $1,712,000. Jane Street Group LLC boosted its position in shares of Central Pacific Financial by 48.7% during the fourth quarter. Jane Street Group LLC now owns 60,153 shares of the financial services provider's stock worth $1,747,000 after buying an additional 19,690 shares during the period. Northern Trust Corp boosted its position in shares of Central Pacific Financial by 4.5% during the fourth quarter. Northern Trust Corp now owns 352,982 shares of the financial services provider's stock worth $10,254,000 after buying an additional 15,243 shares during the period. Finally, SBI Securities Co. Ltd. acquired a new position in shares of Central Pacific Financial during the fourth quarter worth about $31,000. 88.42% of the stock is owned by institutional investors and hedge funds.

Central Pacific Financial Stock Performance

Shares of NYSE CPF opened at $27.39 on Tuesday. The stock has a 50 day moving average price of $26.19 and a 200 day moving average price of $28.28. Central Pacific Financial Corp. has a 52 week low of $19.52 and a 52 week 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 stock has a market capitalization of $738.87 million, a PE ratio of 13.90 and a beta of 1.02.

Central Pacific Financial (NYSE:CPF - Get Free Report) last issued its quarterly 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. Central Pacific Financial had a return on equity of 12.03% and a net margin of 15.49%. The firm had revenue of $68.80 million during the quarter, compared to analysts' expectations of $68.93 million. During the same period in the prior year, the firm posted $0.48 earnings per share. Analysts predict that Central Pacific Financial Corp. will post 2.75 earnings per share 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 yield of 3.94%. Central Pacific Financial's dividend payout ratio (DPR) is presently 50.47%.

Wall Street Analyst Weigh In

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

Insider Activity at Central Pacific Financial

In other Central Pacific Financial news, Director Agnes Catherine Ngo sold 3,333 shares of the company's 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 sale, the director now owns 72,922 shares in the company, valued at $2,020,668.62. This represents a 4.37% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 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.

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 - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.