Eagle Asset Management Inc. Has $15,523,000 Stake in Central Pacific Financial Inc. (CPF)
Eagle Asset Management Inc. raised its stake in Central Pacific Financial Inc. (NYSE:CPF) by 0.3% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 616,258 shares of the financial services provider’s stock after buying an additional 2,144 shares during the period. Eagle Asset Management Inc.’s holdings in Central Pacific Financial were worth $15,523,000 at the end of the most recent reporting period.
Other institutional investors have also bought and sold shares of the company. AJO LP acquired a new position in Central Pacific Financial during the second quarter valued at approximately $11,989,000. Emerald Acquisition Ltd. acquired a new position in Central Pacific Financial during the second quarter valued at approximately $6,474,000. BlackRock Fund Advisors increased its position in Central Pacific Financial by 12.8% in the second quarter. BlackRock Fund Advisors now owns 1,960,861 shares of the financial services provider’s stock valued at $46,276,000 after buying an additional 222,844 shares during the period. Thrivent Financial for Lutherans increased its position in Central Pacific Financial by 1,228.5% in the second quarter. Thrivent Financial for Lutherans now owns 191,170 shares of the financial services provider’s stock valued at $4,512,000 after buying an additional 176,780 shares during the period. Finally, Vanguard Group Inc. increased its position in Central Pacific Financial by 5.3% in the second quarter. Vanguard Group Inc. now owns 2,883,025 shares of the financial services provider’s stock valued at $68,040,000 after buying an additional 146,149 shares during the period. Institutional investors and hedge funds own 93.63% of the company’s stock.
Shares of Central Pacific Financial Inc. (NYSE:CPF) traded up 0.54% during midday trading on Wednesday, reaching $29.62. 25,275 shares of the company were exchanged. The company has a market capitalization of $913.18 million, a PE ratio of 20.44 and a beta of 1.07. Central Pacific Financial Inc. has a 52-week low of $18.47 and a 52-week high of $30.71. The stock’s 50-day moving average price is $26.90 and its 200-day moving average price is $25.05.
Central Pacific Financial (NYSE:CPF) last posted its quarterly earnings results on Thursday, October 27th. The financial services provider reported $0.37 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.38 by $0.01. Central Pacific Financial had a return on equity of 8.96% and a net margin of 22.03%. During the same quarter in the previous year, the company posted $0.38 EPS. Analysts anticipate that Central Pacific Financial Inc. will post $1.47 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, December 15th. Shareholders of record on Wednesday, November 30th will be paid a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 2.17%. The ex-dividend date is Monday, November 28th. Central Pacific Financial’s dividend payout ratio is currently 44.14%.
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A number of equities analysts recently commented on the stock. Zacks Investment Research downgraded shares of Central Pacific Financial from a “buy” rating to a “hold” rating in a research note on Monday, October 3rd. Compass Point downgraded shares of Central Pacific Financial from a “buy” rating to a “neutral” rating in a research note on Friday, November 18th. Finally, Raymond James Financial Inc. boosted their target price on shares of Central Pacific Financial from $25.00 to $26.00 and gave the stock an “outperform” rating in a research note on Tuesday, August 2nd. One research analyst has rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $25.80.
In other news, insider John C. Dean sold 10,652 shares of the firm’s stock in a transaction on Tuesday, November 22nd. The shares were sold at an average price of $30.25, for a total value of $322,223.00. Following the transaction, the insider now owns 8,122 shares of the company’s stock, valued at approximately $245,690.50. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider John C. Dean sold 13,764 shares of the firm’s stock in a transaction on Friday, November 25th. The shares were sold at an average price of $30.32, for a total transaction of $417,324.48. Following the completion of the transaction, the insider now directly owns 8,122 shares in the company, valued at approximately $246,259.04. The disclosure for this sale can be found here. Company insiders own 4.20% of the company’s stock.
Central Pacific Financial Company Profile
Central Pacific Financial Corp. serves as the bank holding company for its bank subsidiary, Central Pacific Bank (the bank). The Company’s segments include Banking Operations, Treasury and All Others. The Banking Operations segment includes construction and commercial real estate lending, commercial lending, residential mortgage lending, consumer lending, trust services, retail brokerage services, and the Company’s retail branch offices, which provide a range of deposit and loan products, as well as various other banking services.
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