Fisher Asset Management LLC Sells 14,509 Shares of Central Pacific Financial Corp. (NYSE:CPF)

Fisher Asset Management LLC trimmed its position in Central Pacific Financial Corp. (NYSE:CPF) by 12.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 101,707 shares of the financial services provider’s stock after selling 14,509 shares during the quarter. Fisher Asset Management LLC owned 0.38% of Central Pacific Financial worth $2,002,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Quantbot Technologies LP increased its position in Central Pacific Financial by 11.8% during the 3rd quarter. Quantbot Technologies LP now owns 11,372 shares of the financial services provider’s stock worth $190,000 after purchasing an additional 1,202 shares in the last quarter. New York State Common Retirement Fund boosted its holdings in shares of Central Pacific Financial by 77.5% during the 3rd quarter. New York State Common Retirement Fund now owns 12,619 shares of the financial services provider’s stock valued at $210,000 after acquiring an additional 5,509 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its position in Central Pacific Financial by 6.1% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 14,675 shares of the financial services provider’s stock worth $245,000 after acquiring an additional 841 shares during the last quarter. Louisiana State Employees Retirement System acquired a new position in Central Pacific Financial in the 4th quarter worth about $266,000. Finally, Illinois Municipal Retirement Fund bought a new position in Central Pacific Financial in the third quarter valued at about $282,000. 88.42% of the stock is currently owned by institutional investors.

Central Pacific Financial Trading Up 1.8 %

Shares of CPF stock opened at $21.14 on Thursday. The stock has a 50-day moving average of $19.43 and a 200-day moving average of $18.82. The company has a current ratio of 0.86, a quick ratio of 0.85 and a debt-to-equity ratio of 0.37. The stock has a market cap of $571.67 million, a price-to-earnings ratio of 10.31 and a beta of 1.12. Central Pacific Financial Corp. has a 1-year low of $13.46 and a 1-year high of $22.00.

Central Pacific Financial (NYSE:CPF) last posted its quarterly earnings data on Wednesday, April 24th. The financial services provider reported $0.48 EPS for the quarter, beating analysts’ consensus estimates of $0.45 by $0.03. The company had revenue of $61.43 million for the quarter, compared to analyst estimates of $60.78 million. Central Pacific Financial had a net margin of 16.44% and a return on equity of 11.34%. On average, equities research analysts forecast that Central Pacific Financial Corp. will post 2 earnings per share for the current year.

Central Pacific Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 17th. Stockholders of record on Friday, May 31st will be given a $0.26 dividend. This represents a $1.04 annualized dividend and a dividend yield of 4.92%. The ex-dividend date of this dividend is Thursday, May 30th. Central Pacific Financial’s dividend payout ratio (DPR) is presently 50.73%.

Analysts Set New Price Targets

Separately, Piper Sandler lifted their target price on shares of Central Pacific Financial from $22.00 to $24.00 and gave the stock an “overweight” rating in a research report on Thursday, February 1st.

Insider Activity

In related news, Director Agnes Catherine Ngo sold 3,333 shares of the firm’s 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 sale, the director now owns 88,689 shares of the company’s stock, valued at $1,713,471.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders have sold 9,999 shares of company stock valued at $192,547 in the last ninety days. 2.30% of the stock is owned by company insiders.

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.