Central Pacific Financial Corp. (NYSE:CPF) Shares Purchased by CIBC Private Wealth Group LLC

CIBC Private Wealth Group LLC lifted its position in Central Pacific Financial Corp. (NYSE:CPF) by 4,424.8% during the fourth quarter, Holdings Channel reports. The institutional investor owned 15,339 shares of the financial services provider’s stock after buying an additional 15,000 shares during the quarter. CIBC Private Wealth Group LLC’s holdings in Central Pacific Financial were worth $421,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. JPMorgan Chase & Co. lifted its holdings in 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 acquiring an additional 158,111 shares during the last quarter. Vanguard Group Inc. raised its holdings in shares of Central Pacific Financial by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 2,124,330 shares of the financial services provider’s stock worth $61,712,000 after purchasing an additional 20,196 shares in the last quarter. KLP Kapitalforvaltning AS acquired a new stake in Central Pacific Financial during the fourth quarter valued at approximately $168,000. American Century Companies Inc. boosted its holdings in Central Pacific Financial by 13.2% during the fourth quarter. American Century Companies Inc. now owns 659,482 shares of the financial services provider’s stock worth $19,158,000 after buying an additional 77,032 shares in the last quarter. Finally, Quantbot Technologies LP acquired a new position in Central Pacific Financial in the fourth quarter worth approximately $55,000. Institutional investors own 88.42% of the company’s stock.

Analysts Set New Price Targets

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

Central Pacific Financial Trading Down 4.1 %

Shares of CPF opened at $23.91 on Friday. 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 Corp. has a 1-year low of $18.53 and a 1-year high of $33.25. The stock has a market capitalization of $648.21 million, a P/E ratio of 12.13 and a beta of 1.17. The business’s 50-day moving average price is $28.15 and its 200 day moving average price is $28.89.

Central Pacific Financial (NYSE:CPF) last released its quarterly earnings results on Wednesday, January 29th. The financial services provider reported $0.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.61 by $0.09. Central Pacific Financial had a net margin of 15.49% and a return on equity of 12.03%. Analysts expect that Central Pacific Financial Corp. will post 2.75 earnings per share for the current year.

Central Pacific Financial Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Friday, February 28th were given a $0.27 dividend. This represents a $1.08 annualized dividend and a dividend yield of 4.52%. The ex-dividend date of this dividend was Friday, February 28th. This is a boost from Central Pacific Financial’s previous quarterly dividend of $0.26. Central Pacific Financial’s dividend payout ratio (DPR) 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.