Nisa Investment Advisors LLC Purchases 11,258 Shares of Central Pacific Financial Corp. (NYSE:CPF)

Nisa Investment Advisors LLC boosted its position in Central Pacific Financial Corp. (NYSE:CPF) by 351.6% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 14,460 shares of the financial services provider’s stock after purchasing an additional 11,258 shares during the period. Nisa Investment Advisors LLC’s holdings in Central Pacific Financial were worth $285,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of CPF. Victory Capital Management Inc. lifted its stake in shares of Central Pacific Financial by 5.2% in the 3rd quarter. Victory Capital Management Inc. now owns 33,200 shares of the financial services provider’s stock valued at $554,000 after purchasing an additional 1,650 shares during the period. AQR Capital Management LLC lifted its stake in Central Pacific Financial by 0.3% in the third quarter. AQR Capital Management LLC now owns 281,271 shares of the financial services provider’s stock valued at $4,692,000 after buying an additional 798 shares during the period. North Reef Capital Management LP acquired a new position in Central Pacific Financial in the third quarter valued at approximately $465,000. Wellington Management Group LLP boosted its holdings in shares of Central Pacific Financial by 79.0% during the 3rd quarter. Wellington Management Group LLP now owns 648,310 shares of the financial services provider’s stock worth $10,814,000 after buying an additional 286,110 shares in the last quarter. Finally, Assenagon Asset Management S.A. grew its position in shares of Central Pacific Financial by 45.1% during the 4th quarter. Assenagon Asset Management S.A. now owns 384,405 shares of the financial services provider’s stock worth $7,565,000 after buying an additional 119,399 shares during the period. Institutional investors own 88.42% of the company’s stock.

Insiders Place Their Bets

In other news, Director Agnes Catherine Ngo sold 3,333 shares of Central Pacific Financial stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $19.32, for a total transaction of $64,393.56. Following the completion of the transaction, the director now directly owns 88,689 shares in the company, valued at $1,713,471.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Over the last 90 days, insiders have sold 9,999 shares of company stock worth $192,547. Insiders own 2.70% of the company’s stock.

Central Pacific Financial Stock Performance

Shares of CPF opened at $18.71 on Friday. Central Pacific Financial Corp. has a one year low of $13.22 and a one year high of $22.00. The company has a market cap of $505.92 million, a PE ratio of 8.62 and a beta of 1.15. The stock has a 50-day moving average of $19.05 and a 200-day moving average of $18.41. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.86 and a quick ratio of 0.86.

Central Pacific Financial (NYSE:CPF) last announced its quarterly earnings data on Wednesday, January 31st. The financial services provider reported $0.55 EPS for the quarter, beating analysts’ consensus estimates of $0.48 by $0.07. The firm had revenue of $89.29 million during the quarter, compared to analysts’ expectations of $61.18 million. Central Pacific Financial had a return on equity of 12.23% and a net margin of 17.82%. During the same quarter last year, the firm posted $0.74 earnings per share. On average, equities research analysts predict that Central Pacific Financial Corp. will post 1.98 EPS for the current fiscal year.

Central Pacific Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Thursday, February 29th were paid a dividend of $0.26 per share. The ex-dividend date was Wednesday, February 28th. This represents a $1.04 dividend on an annualized basis and a yield of 5.56%. Central Pacific Financial’s dividend payout ratio (DPR) is presently 47.93%.

Analysts Set New Price Targets

Separately, Piper Sandler increased their target price on shares of Central Pacific Financial from $22.00 to $24.00 and gave the stock an “overweight” rating in a research note on Thursday, February 1st.

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.