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

Sterling Capital Management LLC boosted its holdings in shares of Central Pacific Financial Corp. (NYSE:CPF) by 4.4% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 17,969 shares of the financial services provider’s stock after purchasing an additional 762 shares during the quarter. Sterling Capital Management LLC owned approximately 0.07% of Central Pacific Financial worth $522,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in shares of Central Pacific Financial by 1.0% in the fourth quarter. Vanguard Group Inc. now owns 2,124,330 shares of the financial services provider’s stock worth $61,712,000 after buying an additional 20,196 shares during the last quarter. American Century Companies Inc. grew its holdings in Central Pacific Financial by 13.2% during the 4th quarter. American Century Companies Inc. now owns 659,482 shares of the financial services provider’s stock worth $19,158,000 after acquiring an additional 77,032 shares in the last quarter. Geode Capital Management LLC grew its holdings in Central Pacific Financial by 0.6% during the 4th quarter. Geode Capital Management LLC now owns 644,390 shares of the financial services provider’s stock worth $18,724,000 after acquiring an additional 4,021 shares in the last quarter. Renaissance Technologies LLC increased its position in shares of Central Pacific Financial by 11.6% in the 4th quarter. Renaissance Technologies LLC now owns 637,053 shares of the financial services provider’s stock worth $18,506,000 after purchasing an additional 66,053 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its stake in shares of Central Pacific Financial by 36.6% in the 4th quarter. JPMorgan Chase & Co. now owns 589,609 shares of the financial services provider’s stock valued at $17,128,000 after purchasing an additional 158,111 shares in the last quarter. 88.42% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Central Pacific Financial Price Performance

Shares of NYSE CPF opened at $25.11 on Friday. The business has a 50 day simple moving average of $27.07 and a 200-day simple moving average of $28.58. Central Pacific Financial Corp. has a twelve month low of $18.61 and a twelve month high of $33.25. The company has a market capitalization of $680.88 million, a price-to-earnings ratio of 12.75 and a beta of 0.98. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.35.

Central Pacific Financial (NYSE:CPF) last released its earnings results 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 net margin of 15.49% and a return on equity of 12.03%. As a group, equities research analysts expect that Central Pacific Financial Corp. will post 2.75 earnings per share for the current year.

Central Pacific Financial Increases Dividend

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

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.