Vanguard Group Inc. trimmed its holdings in Central Pacific Financial Corp. (NYSE:CPF - Free Report) by 21.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 2,046,433 shares of the financial services provider's stock after selling 571,248 shares during the quarter. Vanguard Group Inc. owned 7.57% of Central Pacific Financial worth $34,135,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in CPF. Citigroup Inc. boosted its stake in shares of Central Pacific Financial by 3.0% in the first quarter. Citigroup Inc. now owns 27,767 shares of the financial services provider's stock worth $775,000 after buying an additional 803 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in Central Pacific Financial in the 1st quarter worth approximately $1,119,000. MetLife Investment Management LLC grew its stake in shares of Central Pacific Financial by 68.1% during the 1st quarter. MetLife Investment Management LLC now owns 13,724 shares of the financial services provider's stock worth $383,000 after purchasing an additional 5,560 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its stake in shares of Central Pacific Financial by 13.0% during the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 23,892 shares of the financial services provider's stock worth $667,000 after purchasing an additional 2,754 shares during the period. Finally, BlackRock Inc. increased its holdings in shares of Central Pacific Financial by 0.7% during the 1st quarter. BlackRock Inc. now owns 4,124,430 shares of the financial services provider's stock valued at $115,072,000 after purchasing an additional 27,622 shares in the last quarter. 88.42% of the stock is owned by institutional investors and hedge funds.
Central Pacific Financial Price Performance
NYSE CPF traded up $0.19 during trading hours on Thursday, reaching $19.19. The company's stock had a trading volume of 157,354 shares, compared to its average volume of 170,702. The firm has a market capitalization of $519.09 million, a price-to-earnings ratio of 8.84 and a beta of 1.15. The company's 50-day moving average is $19.07 and its two-hundred day moving average is $18.32. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.86 and a quick ratio of 0.86. Central Pacific Financial Corp. has a 1-year low of $13.22 and a 1-year high of $22.00.
Central Pacific Financial (NYSE:CPF - Get Free Report) last announced its earnings results on Wednesday, January 31st. The financial services provider reported $0.55 earnings per share for the quarter, topping the consensus estimate of $0.48 by $0.07. Central Pacific Financial had a return on equity of 12.23% and a net margin of 17.82%. The business had revenue of $89.29 million during the quarter, compared to the consensus estimate of $61.18 million. During the same period in the prior year, the company posted $0.74 EPS. On average, equities analysts predict that Central Pacific Financial Corp. will post 1.98 EPS for the current year.
Central Pacific Financial Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Thursday, February 29th were given a $0.26 dividend. The ex-dividend date of this dividend was Wednesday, February 28th. This represents a $1.04 annualized dividend and a dividend yield of 5.42%. Central Pacific Financial's dividend payout ratio (DPR) is 47.93%.
Insider Transactions at Central Pacific Financial
In other Central Pacific Financial news, Director Agnes Catherine Ngo sold 3,333 shares of the stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $19.32, for a total transaction of $64,393.56. Following the completion of the transaction, the director now owns 88,689 shares of the company's stock, valued at $1,713,471.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders sold 9,999 shares of company stock valued at $193,081 over the last 90 days. Corporate insiders own 2.30% of the company's stock.
Wall Street Analysts Forecast Growth
Separately, Piper Sandler lifted their price objective on shares of Central Pacific Financial from $22.00 to $24.00 and gave the company an "overweight" rating in a report on Thursday, February 1st.
Check Out Our Latest Analysis on Central Pacific Financial
About Central Pacific Financial
(
Free Report)
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.
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