North Reef Capital Management LP Raises Position in Central Pacific Financial Corp. (NYSE:CPF)

North Reef Capital Management LP increased its holdings in Central Pacific Financial Corp. (NYSE:CPF - Free Report) by 264.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 188,558 shares of the financial services provider's stock after acquiring an additional 136,843 shares during the quarter. North Reef Capital Management LP owned approximately 0.70% of Central Pacific Financial worth $5,478,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Jane Street Group LLC increased its holdings in Central Pacific Financial by 62.7% during the third quarter. Jane Street Group LLC now owns 40,463 shares of the financial services provider's stock valued at $1,194,000 after buying an additional 15,599 shares during the period. Barclays PLC grew its holdings in Central Pacific Financial by 84.3% in the third quarter. Barclays PLC now owns 58,493 shares of the financial services provider's stock worth $1,726,000 after purchasing an additional 26,755 shares during the last quarter. Geode Capital Management LLC grew its holdings in Central Pacific Financial by 4.0% in the third quarter. Geode Capital Management LLC now owns 640,369 shares of the financial services provider's stock worth $18,901,000 after purchasing an additional 24,686 shares during the last quarter. Franklin Resources Inc. grew its holdings in Central Pacific Financial by 4.0% in the third quarter. Franklin Resources Inc. now owns 56,148 shares of the financial services provider's stock worth $1,634,000 after purchasing an additional 2,151 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its holdings in Central Pacific Financial by 6.4% in the third quarter. JPMorgan Chase & Co. now owns 431,498 shares of the financial services provider's stock worth $12,734,000 after purchasing an additional 26,139 shares during the last quarter. 88.42% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Separately, StockNews.com 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

Shares of NYSE:CPF traded down $0.25 on Wednesday, hitting $25.72. 28,118 shares of the company were exchanged, compared to its average volume of 202,459. Central Pacific Financial Corp. has a 1-year low of $19.52 and a 1-year high of $33.25. The stock's 50 day moving average price is $26.47 and its 200 day moving average price is $28.45. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.35. The firm has a market capitalization of $697.42 million, a P/E ratio of 13.06 and a beta of 0.98.

Central Pacific Financial (NYSE:CPF - Get Free Report) last posted its earnings results on Wednesday, April 23rd. The financial services provider reported $0.65 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.63 by $0.02. The company had revenue of $68.80 million during the quarter, compared to the consensus estimate 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 period in the previous year, the firm posted $0.48 earnings per share. Sell-side analysts predict that Central Pacific Financial Corp. will post 2.75 EPS 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. Stockholders of record on Friday, May 30th will be paid a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a dividend yield of 4.20%. The ex-dividend date of this dividend is Friday, May 30th. Central Pacific Financial's payout ratio is currently 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.