Mirae Asset Global Investments Co. Ltd. Raises Stock Holdings in Central Pacific Financial Corp. (NYSE:CPF)

Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Central Pacific Financial Corp. (NYSE:CPF) by 12.0% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 16,490 shares of the financial services provider’s stock after acquiring an additional 1,769 shares during the period. Mirae Asset Global Investments Co. Ltd. owned 0.06% of Central Pacific Financial worth $458,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Acadian Asset Management LLC increased its stake in Central Pacific Financial by 359.7% in the first quarter. Acadian Asset Management LLC now owns 462,925 shares of the financial services provider’s stock valued at $9,140,000 after purchasing an additional 362,232 shares during the period. Assenagon Asset Management S.A. grew its holdings in shares of Central Pacific Financial by 143.4% during the third quarter. Assenagon Asset Management S.A. now owns 456,132 shares of the financial services provider’s stock worth $13,460,000 after buying an additional 268,719 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in Central Pacific Financial by 5.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,404,043 shares of the financial services provider’s stock valued at $29,765,000 after acquiring an additional 77,868 shares during the last quarter. American Century Companies Inc. lifted its position in Central Pacific Financial by 17.8% during the 2nd quarter. American Century Companies Inc. now owns 511,590 shares of the financial services provider’s stock worth $10,846,000 after acquiring an additional 77,265 shares during the period. Finally, LSV Asset Management lifted its position in Central Pacific Financial by 10.7% during the 2nd quarter. LSV Asset Management now owns 663,230 shares of the financial services provider’s stock worth $14,060,000 after acquiring an additional 63,862 shares during the period. 88.42% of the stock is owned by institutional investors and hedge funds.

Central Pacific Financial Stock Up 0.6 %

CPF stock opened at $27.09 on Friday. The stock has a market capitalization of $733.06 million, a PE ratio of 12.90 and a beta of 1.13. The company has a fifty day moving average of $28.12 and a 200-day moving average of $24.16. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.86 and a current ratio of 0.85. Central Pacific Financial Corp. has a one year low of $16.27 and a one year high of $30.30.

Central Pacific Financial (NYSE:CPF) last issued its earnings results on Wednesday, October 30th. The financial services provider reported $0.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.56 by $0.02. The business had revenue of $66.59 million during the quarter, compared to the consensus estimate of $65.22 million. Central Pacific Financial had a return on equity of 11.44% and a net margin of 16.10%. As a group, analysts expect that Central Pacific Financial Corp. will post 2.2 EPS for the current year.

Central Pacific Financial Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 29th will be given a dividend of $0.26 per share. The ex-dividend date of this dividend is Friday, November 29th. This represents a $1.04 annualized dividend and a dividend yield of 3.84%. Central Pacific Financial’s payout ratio is currently 49.52%.

Analysts Set New Price Targets

Separately, StockNews.com lowered Central Pacific Financial from a “hold” rating to a “sell” rating in a report on Friday.

Central Pacific Financial 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.