Central Pacific Financial Corp. (NYSE:CPF) Shares Acquired by Northern Trust Corp

Northern Trust Corp raised its holdings 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 Securities and Exchange Commission (SEC). The fund owned 352,982 shares of the financial services provider's stock after purchasing an additional 15,243 shares during the period. Northern Trust Corp owned about 1.30% of Central Pacific Financial worth $10,254,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Picton Mahoney Asset Management bought a new stake in Central Pacific Financial during the fourth quarter valued at $30,000. SBI Securities Co. Ltd. bought a new stake in Central Pacific Financial during the fourth quarter valued at $31,000. Quantbot Technologies LP bought a new stake in Central Pacific Financial during the fourth quarter valued at $55,000. KLP Kapitalforvaltning AS bought a new stake in Central Pacific Financial during the fourth quarter valued at $168,000. Finally, SG Americas Securities LLC increased its stake in Central Pacific Financial by 7.2% during the fourth 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 last quarter. Institutional investors own 88.42% of the company's stock.

Analyst Upgrades and Downgrades

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

Central Pacific Financial Stock Performance

CPF stock traded down $0.27 during trading on Friday, hitting $26.44. 108,438 shares of the company's stock traded hands, compared to its average volume of 204,108. 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 52 week low of $19.52 and a 52 week high of $33.25. The stock has a fifty day moving average price of $26.18 and a two-hundred day moving average price of $28.25. The stock has a market capitalization of $713.25 million, a price-to-earnings ratio of 13.42 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 EPS for the quarter, topping the consensus estimate of $0.63 by $0.02. The business had revenue of $68.80 million during the quarter, compared to analyst estimates of $68.93 million. Central Pacific Financial had a net margin of 15.49% and a return on equity of 12.03%. During the same quarter in the prior year, the firm earned $0.48 earnings per share. As a group, equities analysts anticipate that Central Pacific Financial Corp. will post 2.75 EPS for the current fiscal year.

Central Pacific Financial Dividend Announcement

The company also recently declared 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 annualized dividend and a dividend yield of 4.08%. Central Pacific Financial's dividend payout ratio is currently 50.47%.

Insider Transactions at Central Pacific Financial

In other news, Director Agnes Catherine Ngo sold 3,333 shares of the company's stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $27.71, for a total transaction of $92,357.43. Following the completion of the transaction, 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 ownership of the stock. 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.