Bailard Inc. Boosts Holdings in Central Pacific Financial Corp. (NYSE:CPF)

Bailard Inc. raised its position in shares of Central Pacific Financial Corp. (NYSE:CPF) by 14.0% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 19,500 shares of the financial services provider’s stock after acquiring an additional 2,400 shares during the period. Bailard Inc.’s holdings in Central Pacific Financial were worth $413,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. CWM LLC boosted its holdings in shares of Central Pacific Financial by 221.9% in the second quarter. CWM LLC now owns 1,957 shares of the financial services provider’s stock valued at $41,000 after purchasing an additional 1,349 shares during the period. Tower Research Capital LLC TRC increased its stake in shares of 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 buying an additional 907 shares during the period. Allspring Global Investments Holdings LLC raised its holdings in shares of Central Pacific Financial by 660.9% in the first quarter. Allspring Global Investments Holdings LLC now owns 2,488 shares of the financial services provider’s stock valued at $49,000 after acquiring an additional 2,161 shares in the last quarter. Central Pacific Bank Trust Division purchased a new stake in Central Pacific Financial in the first quarter worth about $134,000. Finally, Natixis Advisors L.P. bought a new position in Central Pacific Financial during the 4th quarter worth about $222,000. Hedge funds and other institutional investors own 88.42% of the company’s stock.

Insiders Place Their Bets

In related news, Director Agnes Catherine Ngo sold 3,333 shares of the company’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 transaction, the director now directly owns 75,357 shares of the company’s stock, valued at approximately $1,708,343.19. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 2.70% of the stock is owned by insiders.

Central Pacific Financial Price Performance

NYSE CPF opened at $27.68 on Tuesday. The company has a market cap of $748.52 million, a PE ratio of 13.50 and a beta of 1.13. Central Pacific Financial Corp. has a 52-week low of $14.69 and a 52-week high of $28.07. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.85 and a current ratio of 0.86. The firm’s 50 day moving average price is $23.69 and its 200-day moving average price is $21.11.

Central Pacific Financial (NYSE:CPF) last announced its earnings results on Wednesday, July 31st. The financial services provider reported $0.58 EPS for the quarter, topping analysts’ consensus estimates of $0.48 by $0.10. The business had revenue of $87.96 million during the quarter, compared to the consensus estimate of $61.74 million. Central Pacific Financial had a net margin of 16.44% and a return on equity of 11.36%. During the same period in the previous year, the company posted $0.53 earnings per share. Sell-side analysts forecast that Central Pacific Financial Corp. will post 2.2 EPS for the current fiscal year.

Central Pacific Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Investors of record on Friday, August 30th will be given a $0.26 dividend. This represents a $1.04 annualized dividend and a dividend yield of 3.76%. The ex-dividend date of this dividend is Friday, August 30th. Central Pacific Financial’s payout ratio is currently 50.73%.

Central Pacific Financial Company 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.