Lazard Asset Management LLC Buys 12,835 Shares of Central Pacific Financial Corp. (NYSE:CPF)

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

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. SG Americas Securities LLC boosted its holdings in Central Pacific Financial by 7.2% in the 4th quarter. SG Americas Securities LLC now owns 6,643 shares of the financial services provider's stock valued at $193,000 after purchasing an additional 448 shares during the period. EMC Capital Management increased its stake in Central Pacific Financial by 92.2% during the 4th quarter. EMC Capital Management now owns 11,559 shares of the financial services provider's stock worth $336,000 after acquiring an additional 5,544 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Central Pacific Financial by 18.8% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 19,588 shares of the financial services provider's stock valued at $564,000 after acquiring an additional 3,098 shares during the period. Empowered Funds LLC grew its holdings in shares of Central Pacific Financial by 5.0% during the 4th quarter. Empowered Funds LLC now owns 90,584 shares of the financial services provider's stock worth $2,631,000 after purchasing an additional 4,333 shares in the last quarter. Finally, New York State Teachers Retirement System raised its stake in Central Pacific Financial by 10.8% in the fourth quarter. New York State Teachers Retirement System now owns 26,892 shares of the financial services provider's stock valued at $781,000 after purchasing an additional 2,617 shares in the last quarter. 88.42% of the stock is currently owned by institutional investors and hedge funds.

Central Pacific Financial Price Performance

Shares of NYSE:CPF traded down $0.27 during trading on Friday, hitting $26.44. 108,438 shares of the company were exchanged, compared to its average volume of 204,632. The business's 50 day moving average is $26.18 and its 200-day moving average is $28.22. The company has a market capitalization of $713.25 million, a P/E ratio of 13.42 and a beta of 1.02. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.35. Central Pacific Financial Corp. has a 1-year low of $19.52 and a 1-year high of $33.25.

Central Pacific Financial (NYSE:CPF - Get Free Report) last posted its quarterly earnings data on Wednesday, April 23rd. The financial services provider reported $0.65 earnings per share for the quarter, beating analysts' consensus estimates of $0.63 by $0.02. The business 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 in the prior year, the business posted $0.48 earnings per share. Equities analysts forecast that Central Pacific Financial Corp. will post 2.75 earnings per share for the current year.

Central Pacific Financial Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Shareholders 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 yield of 4.08%. Central Pacific Financial's dividend payout ratio (DPR) is currently 50.47%.

Insider Buying and Selling at Central Pacific Financial

In related news, Director Agnes Catherine Ngo sold 3,333 shares of Central Pacific Financial stock in a transaction on 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 of the company's stock, valued at approximately $2,020,668.62. This trade represents a 4.37% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 2.40% of the company's stock.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen raised shares of Central Pacific Financial from a "sell" rating to a "hold" rating in a research note on Thursday, March 20th.

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.