Central Pacific Financial Corp. (NYSE:CPF) Stock Position Raised by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. raised its position in shares of Central Pacific Financial Corp. (NYSE:CPF) by 5.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,410 shares of the financial services provider’s stock after purchasing an additional 735 shares during the period. Mirae Asset Global Investments Co. Ltd. owned 0.06% of Central Pacific Financial worth $303,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Charles Schwab Investment Management Inc. raised its stake in shares of Central Pacific Financial by 5.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 821,682 shares of the financial services provider’s stock valued at $13,706,000 after acquiring an additional 39,130 shares in the last quarter. Wellington Management Group LLP grew its holdings in Central Pacific Financial by 79.0% in the 3rd quarter. Wellington Management Group LLP now owns 648,310 shares of the financial services provider’s stock valued at $10,814,000 after buying an additional 286,110 shares during the last quarter. Kennedy Capital Management LLC grew its holdings in Central Pacific Financial by 4.1% in the 3rd quarter. Kennedy Capital Management LLC now owns 475,522 shares of the financial services provider’s stock valued at $7,932,000 after buying an additional 18,862 shares during the last quarter. Assenagon Asset Management S.A. grew its holdings in Central Pacific Financial by 45.1% in the 4th quarter. Assenagon Asset Management S.A. now owns 384,405 shares of the financial services provider’s stock valued at $7,565,000 after buying an additional 119,399 shares during the last quarter. Finally, American Century Companies Inc. grew its holdings in Central Pacific Financial by 10.5% in the 3rd quarter. American Century Companies Inc. now owns 306,425 shares of the financial services provider’s stock valued at $5,111,000 after buying an additional 29,026 shares during the last quarter. 88.42% of the stock is owned by hedge funds and other institutional investors.

Central Pacific Financial Price Performance

Shares of NYSE:CPF opened at $20.12 on Friday. Central Pacific Financial Corp. has a 1-year low of $13.22 and a 1-year high of $22.00. The firm has a market capitalization of $544.04 million, a PE ratio of 9.81 and a beta of 1.15. The business’s 50 day moving average is $19.15 and its 200-day moving average is $18.57. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.37.

Central Pacific Financial (NYSE:CPF) last announced its quarterly earnings data on Wednesday, April 24th. The financial services provider reported $0.48 earnings per share for the quarter, topping the consensus estimate of $0.45 by $0.03. Central Pacific Financial had a return on equity of 11.34% and a net margin of 16.44%. The company had revenue of $61.43 million for the quarter, compared to analyst estimates of $60.78 million. Sell-side analysts predict that Central Pacific Financial Corp. will post 1.98 earnings per share for the current year.

Central Pacific Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 17th. Stockholders of record on Friday, May 31st will be issued a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a dividend yield of 5.17%. The ex-dividend date is Thursday, May 30th. Central Pacific Financial’s payout ratio is presently 50.73%.

Wall Street Analyst Weigh In

Separately, Piper Sandler raised their target price on Central Pacific Financial from $22.00 to $24.00 and gave the company an “overweight” rating in a report on Thursday, February 1st.

Insider Buying and Selling

In related news, Director Agnes Catherine Ngo sold 3,333 shares of the firm’s stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $19.45, for a total transaction of $64,826.85. Following the completion of the transaction, the director now owns 92,022 shares in the company, valued at approximately $1,789,827.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders sold 9,999 shares of company stock worth $192,547 in the last 90 days. 2.70% of the stock is owned by company insiders.

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.