Central Pacific Financial Corp. (NYSE:CPF) Shares Acquired by Sterling Capital Management LLC

Sterling Capital Management LLC raised its position in shares of Central Pacific Financial Corp. (NYSE:CPF) by 4.4% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 17,969 shares of the financial services provider’s stock after purchasing an additional 762 shares during the period. Sterling Capital Management LLC’s holdings in Central Pacific Financial were worth $522,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of CPF. Jane Street Group LLC grew its holdings in Central Pacific Financial by 62.7% in the 3rd quarter. Jane Street Group LLC now owns 40,463 shares of the financial services provider’s stock worth $1,194,000 after buying an additional 15,599 shares in the last quarter. Barclays PLC grew its stake in shares of 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 in the last quarter. Geode Capital Management LLC increased its holdings in shares of Central Pacific Financial by 4.0% during the third quarter. Geode Capital Management LLC now owns 640,369 shares of the financial services provider’s stock valued at $18,901,000 after purchasing an additional 24,686 shares during the period. Franklin Resources Inc. raised its stake in shares of Central Pacific Financial by 4.0% during the third quarter. Franklin Resources Inc. now owns 56,148 shares of the financial services provider’s stock valued at $1,634,000 after purchasing an additional 2,151 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted 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 period. Institutional investors own 88.42% of the company’s stock.

Analysts Set New Price Targets

Separately, StockNews.com raised shares of Central Pacific Financial from a “sell” rating to a “hold” rating in a research note on Thursday, March 20th.

Central Pacific Financial Price Performance

Shares of NYSE:CPF opened at $25.11 on Friday. The stock has a market cap of $680.88 million, a price-to-earnings ratio of 12.75 and a beta of 0.98. 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 Corp. has a 12 month low of $18.61 and a 12 month high of $33.25. The stock’s 50 day moving average price is $27.07 and its 200 day moving average price is $28.58.

Central Pacific Financial (NYSE:CPF) last announced its quarterly earnings data on Wednesday, January 29th. The financial services provider reported $0.70 earnings per share for the quarter, beating the consensus estimate of $0.61 by $0.09. Central Pacific Financial had a return on equity of 12.03% and a net margin of 15.49%. Equities research analysts anticipate that Central Pacific Financial Corp. will post 2.75 earnings per share for the current fiscal year.

Central Pacific Financial Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Friday, February 28th were paid a $0.27 dividend. The ex-dividend date of this dividend was Friday, February 28th. This represents a $1.08 annualized dividend and a dividend yield of 4.30%. This is a boost from Central Pacific Financial’s previous quarterly dividend of $0.26. Central Pacific Financial’s payout ratio is currently 54.82%.

About Central Pacific Financial

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.