Public Sector Pension Investment Board Acquires 3,361 Shares of Central Pacific Financial Corp. (NYSE:CPF)

Public Sector Pension Investment Board lifted its holdings in Central Pacific Financial Corp. (NYSE:CPF) by 6.0% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 59,486 shares of the financial services provider’s stock after purchasing an additional 3,361 shares during the period. Public Sector Pension Investment Board’s holdings in Central Pacific Financial were worth $1,261,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of the business. Hancock Whitney Corp lifted its position in shares of Central Pacific Financial by 149.4% in the 2nd quarter. Hancock Whitney Corp now owns 34,339 shares of the financial services provider’s stock worth $728,000 after purchasing an additional 20,571 shares during the period. Sei Investments Co. lifted its position in shares of Central Pacific Financial by 77.9% in the 2nd quarter. Sei Investments Co. now owns 31,084 shares of the financial services provider’s stock worth $659,000 after purchasing an additional 13,609 shares during the period. Intech Investment Management LLC purchased a new stake in shares of Central Pacific Financial in the 2nd quarter worth approximately $297,000. Renaissance Technologies LLC lifted its position in shares of Central Pacific Financial by 3.6% in the 2nd quarter. Renaissance Technologies LLC now owns 550,400 shares of the financial services provider’s stock worth $11,668,000 after purchasing an additional 19,247 shares during the period. Finally, Dimensional Fund Advisors LP lifted its position in shares of Central Pacific Financial by 5.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,404,043 shares of the financial services provider’s stock worth $29,765,000 after purchasing an additional 77,868 shares during the period. Hedge funds and other institutional investors own 88.42% of the company’s stock.

Central Pacific Financial Price Performance

Shares of CPF opened at $28.06 on Wednesday. The company has a 50 day moving average price of $26.68 and a 200-day moving average price of $22.65. Central Pacific Financial Corp. has a fifty-two week low of $14.69 and a fifty-two week high of $29.55. The stock has a market capitalization of $758.80 million, a PE ratio of 13.69 and a beta of 1.12. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.86 and a current ratio of 0.86.

Central Pacific Financial (NYSE:CPF) last posted its earnings results on Wednesday, July 31st. The financial services provider reported $0.58 EPS for the quarter, beating 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 company had revenue of $87.96 million during the quarter, compared to analysts’ expectations of $61.74 million. During the same quarter in the prior year, the company posted $0.53 earnings per share. Equities analysts predict that Central Pacific Financial Corp. will post 2.2 earnings per share for the current fiscal year.

Central Pacific Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Friday, August 30th were given a dividend of $0.26 per share. The ex-dividend date was Friday, August 30th. This represents a $1.04 dividend on an annualized basis and a yield of 3.71%. Central Pacific Financial’s payout ratio is 50.73%.

Insider Activity at Central Pacific Financial

In related news, Director Agnes Catherine Ngo sold 3,333 shares of the stock in a transaction that occurred on Friday, July 12th. The shares were sold at an average price of $22.67, for a total transaction of $75,559.11. Following the completion of the sale, the director now 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 at this hyperlink. 2.70% of the stock is currently owned by corporate 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.