Intech Investment Management LLC Raises Position in Central Pacific Financial Corp. (NYSE:CPF)

Intech Investment Management LLC lifted its stake in Central Pacific Financial Corp. (NYSE:CPF) by 29.5% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,501 shares of the financial services provider’s stock after purchasing an additional 3,300 shares during the period. Intech Investment Management LLC owned 0.05% of Central Pacific Financial worth $421,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of CPF. Geode Capital Management LLC increased its position in Central Pacific Financial by 4.0% in the third quarter. Geode Capital Management LLC now owns 640,369 shares of the financial services provider’s stock worth $18,901,000 after buying an additional 24,686 shares in the last quarter. Basswood Capital Management L.L.C. purchased a new stake in Central Pacific Financial in the 3rd quarter worth approximately $15,455,000. JPMorgan Chase & Co. raised its stake in Central Pacific Financial by 6.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 431,498 shares of the financial services provider’s stock worth $12,734,000 after acquiring an additional 26,139 shares during the period. FMR LLC lifted its holdings in Central Pacific Financial by 24.4% during the third quarter. FMR LLC now owns 295,359 shares of the financial services provider’s stock valued at $8,716,000 after purchasing an additional 58,009 shares in the last quarter. Finally, Principal Financial Group Inc. boosted its position in shares of Central Pacific Financial by 4.1% in the fourth quarter. Principal Financial Group Inc. now owns 152,043 shares of the financial services provider’s stock worth $4,417,000 after purchasing an additional 5,978 shares during the period. 88.42% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Separately, StockNews.com upgraded shares of Central Pacific Financial from a “sell” rating to a “hold” rating in a research note on Thursday, March 20th.

Central Pacific Financial Stock Performance

NYSE CPF opened at $27.33 on Wednesday. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.35. Central Pacific Financial Corp. has a twelve month low of $18.53 and a twelve month high of $33.25. The business has a 50-day moving average price of $28.45 and a 200-day moving average price of $28.93. The firm has a market cap of $741.08 million, a price-to-earnings ratio of 13.87 and a beta of 1.17.

Central Pacific Financial (NYSE:CPF) last posted its quarterly earnings results on Wednesday, January 29th. The financial services provider reported $0.70 earnings per share 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%. As a group, equities research analysts predict that Central Pacific Financial Corp. will post 2.75 EPS for the current fiscal year.

Central Pacific Financial Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Friday, February 28th were issued a $0.27 dividend. This is an increase from Central Pacific Financial’s previous quarterly dividend of $0.26. This represents a $1.08 dividend on an annualized basis and a yield of 3.95%. The ex-dividend date was Friday, February 28th. Central Pacific Financial’s payout ratio is currently 54.82%.

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.