Price T Rowe Associates Inc. MD Raises Stake in Central Pacific Financial Corp. (NYSE:CPF)

Price T Rowe Associates Inc. MD boosted its stake in shares of Central Pacific Financial Corp. (NYSE:CPF) by 4.2% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 25,507 shares of the financial services provider’s stock after buying an additional 1,020 shares during the quarter. Price T Rowe Associates Inc. MD’s holdings in Central Pacific Financial were worth $504,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in CPF. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Central Pacific Financial by 5.0% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 15,410 shares of the financial services provider’s stock worth $303,000 after purchasing an additional 735 shares during the last quarter. Tower Research Capital LLC TRC grew its holdings in Central Pacific Financial by 63.9% during the fourth quarter. Tower Research Capital LLC TRC now owns 2,327 shares of the financial services provider’s stock valued at $46,000 after purchasing an additional 907 shares during the period. New York State Teachers Retirement System raised its stake in shares of Central Pacific Financial by 4.2% in the fourth quarter. New York State Teachers Retirement System now owns 25,075 shares of the financial services provider’s stock valued at $493,000 after buying an additional 1,022 shares during the period. Principal Financial Group Inc. raised its stake in shares of Central Pacific Financial by 1.2% in the first quarter. Principal Financial Group Inc. now owns 156,553 shares of the financial services provider’s stock valued at $3,092,000 after buying an additional 1,795 shares during the period. Finally, Allspring Global Investments Holdings LLC lifted its position in shares of Central Pacific Financial by 660.9% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 2,488 shares of the financial services provider’s stock valued at $49,000 after buying an additional 2,161 shares during the last quarter. Hedge funds and other institutional investors own 88.42% of the company’s stock.

Central Pacific Financial Trading Up 2.4 %

Shares of CPF opened at $25.22 on Wednesday. Central Pacific Financial Corp. has a fifty-two week low of $14.69 and a fifty-two week high of $27.48. The business has a 50-day moving average of $22.57 and a 200 day moving average of $20.66. The firm has a market cap of $682.00 million, a P/E ratio of 12.30 and a beta of 1.13. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.85 and a current ratio of 0.86.

Central Pacific Financial (NYSE:CPF) last issued its earnings results on Wednesday, July 31st. The financial services provider reported $0.58 earnings per share for the quarter, topping analysts’ consensus estimates of $0.48 by $0.10. Central Pacific Financial had a net margin of 16.44% and a return on equity of 11.36%. The firm had revenue of $87.96 million during the quarter, compared to analyst estimates of $61.74 million. During the same quarter last year, the business earned $0.53 earnings per share. As a group, research analysts forecast that Central Pacific Financial Corp. will post 2.2 EPS for the current year.

Central Pacific Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Investors of record on Friday, August 30th will be paid a $0.26 dividend. The ex-dividend date is Friday, August 30th. This represents a $1.04 dividend on an annualized basis and a yield of 4.12%. Central Pacific Financial’s dividend payout ratio is 50.73%.

Insider Buying and Selling at Central Pacific Financial

In other news, Director Agnes Catherine Ngo sold 3,333 shares of the firm’s stock in a transaction on Friday, July 12th. The stock was sold at an average price of $22.67, for a total value of $75,559.11. Following the completion of the transaction, the director now directly owns 75,357 shares of the company’s stock, valued at $1,708,343.19. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 2.70% of the company’s stock.

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.