Rafferty Asset Management LLC Purchases 10,563 Shares of Central Pacific Financial Corp. (NYSE:CPF)

Rafferty Asset Management LLC boosted its stake in Central Pacific Financial Corp. (NYSE:CPF - Free Report) by 30.6% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 45,136 shares of the financial services provider's stock after buying an additional 10,563 shares during the quarter. Rafferty Asset Management LLC owned approximately 0.17% of Central Pacific Financial worth $1,311,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Picton Mahoney Asset Management purchased a new stake in Central Pacific Financial in the 4th quarter valued at $30,000. SBI Securities Co. Ltd. purchased a new stake in Central Pacific Financial in the 4th quarter valued at $31,000. Quantbot Technologies LP purchased a new stake in Central Pacific Financial in the 4th quarter valued at $55,000. KLP Kapitalforvaltning AS purchased a new stake in Central Pacific Financial in the 4th quarter valued at $168,000. Finally, SG Americas Securities LLC raised its position 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 buying an additional 448 shares during the last quarter. 88.42% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

Central Pacific Financial Stock Performance

Shares of Central Pacific Financial stock traded up $0.26 during trading hours on Tuesday, hitting $26.75. 12,928 shares of the company's stock traded hands, compared to its average volume of 203,875. Central Pacific Financial Corp. has a 12-month low of $19.52 and a 12-month high of $33.25. The stock has a market capitalization of $721.61 million, a price-to-earnings ratio of 13.59 and a beta of 1.02. The company has a fifty day simple moving average of $26.16 and a 200-day simple moving average of $28.19. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.85 and a quick ratio of 0.85.

Central Pacific Financial (NYSE:CPF - Get Free Report) last announced its quarterly earnings data on Wednesday, April 23rd. The financial services provider reported $0.65 earnings per share for the quarter, topping 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 company had revenue of $68.80 million during the quarter, compared to analyst estimates of $68.93 million. During the same quarter last year, the firm posted $0.48 EPS. Equities research 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 disclosed a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Friday, May 30th will be issued a $0.27 dividend. This represents a $1.08 annualized dividend and a yield of 4.04%. The ex-dividend date is Friday, May 30th. Central Pacific Financial's dividend payout ratio (DPR) is currently 50.47%.

Insider Buying and Selling

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

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.