Northern Trust Corp Boosts Stake in Central Pacific Financial Corp. (NYSE:CPF)

Northern Trust Corp increased its position in shares of Central Pacific Financial Corp. (NYSE:CPF - Free Report) by 4.5% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 352,982 shares of the financial services provider's stock after purchasing an additional 15,243 shares during the quarter. Northern Trust Corp owned 1.30% of Central Pacific Financial worth $10,254,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of the company. Y Intercept Hong Kong Ltd purchased a new position in shares of Central Pacific Financial in the fourth quarter valued at $413,000. Raymond James Financial Inc. acquired a new stake in Central Pacific Financial in the 4th quarter valued at about $1,712,000. SBI Securities Co. Ltd. acquired a new stake in Central Pacific Financial in the 4th quarter valued at about $31,000. JPMorgan Chase & Co. increased its holdings in Central Pacific Financial by 36.6% during the 4th quarter. JPMorgan Chase & Co. now owns 589,609 shares of the financial services provider's stock valued at $17,128,000 after acquiring an additional 158,111 shares in the last quarter. Finally, American Century Companies Inc. raised its position in Central Pacific Financial by 13.2% during the fourth quarter. American Century Companies Inc. now owns 659,482 shares of the financial services provider's stock worth $19,158,000 after acquiring an additional 77,032 shares during the last quarter. 88.42% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Central Pacific Financial news, Director Agnes Catherine Ngo sold 3,333 shares of the stock in a transaction on Monday, May 12th. The stock was sold at an average price of $27.71, for a total transaction of $92,357.43. Following the transaction, the director now owns 72,922 shares of the company's stock, valued at $2,020,668.62. This represents a 4.37% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. 2.40% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

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

Central Pacific Financial Price Performance

CPF stock traded down $0.72 on Wednesday, reaching $26.68. The company had a trading volume of 126,843 shares, compared to its average volume of 203,606. The company's fifty day moving average is $26.21 and its 200 day moving average is $28.27. The company has a market cap of $719.75 million, a P/E ratio of 13.54 and a beta of 1.02. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.85 and a current ratio of 0.85. 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 issued its quarterly earnings data on Wednesday, April 23rd. The financial services provider reported $0.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.63 by $0.02. The business had revenue of $68.80 million for 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 earned $0.48 earnings per share. On average, research analysts forecast that Central Pacific Financial Corp. will post 2.75 earnings per share for the current year.

Central Pacific Financial Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Friday, May 30th will be issued a $0.27 dividend. The ex-dividend date of this dividend is Friday, May 30th. This represents a $1.08 dividend on an annualized basis and a yield of 4.05%. Central Pacific Financial's dividend payout ratio (DPR) is 50.47%.

Central Pacific Financial 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.