Picton Mahoney Asset Management Takes $30,000 Position in Central Pacific Financial Corp. (NYSE:CPF)

Picton Mahoney Asset Management purchased a new stake in Central Pacific Financial Corp. (NYSE:CPF) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 1,029 shares of the financial services provider’s stock, valued at approximately $30,000.

Other hedge funds also recently made changes to their positions in the company. SBI Securities Co. Ltd. purchased a new position in shares of Central Pacific Financial in the fourth quarter valued at $31,000. Quarry LP purchased a new position in Central Pacific Financial during the third quarter worth about $53,000. SG Americas Securities LLC grew its position in Central Pacific Financial by 7.2% during the fourth quarter. SG Americas Securities LLC now owns 6,643 shares of the financial services provider’s stock worth $193,000 after buying an additional 448 shares in the last quarter. Diversified Trust Co grew its position in Central Pacific Financial by 9.8% during the fourth quarter. Diversified Trust Co now owns 8,787 shares of the financial services provider’s stock worth $255,000 after buying an additional 783 shares in the last quarter. Finally, EMC Capital Management grew its position in Central Pacific Financial by 92.2% during the fourth quarter. EMC Capital Management now owns 11,559 shares of the financial services provider’s stock worth $336,000 after buying an additional 5,544 shares in the last quarter. 88.42% of the stock is currently owned by hedge funds and other institutional investors.

Central Pacific Financial Price Performance

Central Pacific Financial stock opened at $27.15 on Tuesday. Central Pacific Financial Corp. has a 52 week low of $18.35 and a 52 week high of $33.25. The business has a 50-day simple moving average of $28.46 and a 200 day simple moving average of $28.94. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.35. The stock has a market cap of $736.20 million, a price-to-earnings ratio of 13.78 and a beta of 1.17.

Central Pacific Financial (NYSE:CPF) last posted its earnings results on Wednesday, January 29th. The financial services provider reported $0.70 EPS for the quarter, topping 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%. On average, research analysts forecast that Central Pacific Financial Corp. will post 2.75 earnings per share for the current fiscal year.

Central Pacific Financial Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Friday, February 28th were paid a dividend of $0.27 per share. The ex-dividend date of this dividend was Friday, February 28th. This represents a $1.08 annualized dividend and a yield of 3.98%. This is a positive change from Central Pacific Financial’s previous quarterly dividend of $0.26. Central Pacific Financial’s payout ratio is 54.82%.

Analyst Ratings Changes

Separately, StockNews.com cut Central Pacific Financial from a “hold” rating to a “sell” rating in a research report on Wednesday, March 12th.

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.