Russell Investments Group Ltd. Raises Stock Position in Central Pacific Financial Corp. (NYSE:CPF)

Russell Investments Group Ltd. lifted its position in Central Pacific Financial Corp. (NYSE:CPF) by 1,268.5% in the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 56,261 shares of the financial services provider’s stock after acquiring an additional 52,150 shares during the period. Russell Investments Group Ltd. owned 0.21% of Central Pacific Financial worth $1,634,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of CPF. Picton Mahoney Asset Management purchased a new stake in shares of Central Pacific Financial in the 4th quarter worth approximately $30,000. SBI Securities Co. Ltd. bought a new stake in shares of Central Pacific Financial in the fourth quarter worth approximately $31,000. Quantbot Technologies LP purchased a new stake in Central Pacific Financial during the 4th quarter valued at $55,000. KLP Kapitalforvaltning AS bought a new position in Central Pacific Financial in the fourth quarter valued at about $168,000. Finally, SG Americas Securities LLC grew its position in Central Pacific Financial by 7.2% during the fourth quarter. SG Americas Securities LLC now owns 6,643 shares of the financial services provider’s stock valued at $193,000 after buying an additional 448 shares during the period. Institutional investors own 88.42% of the company’s stock.

Central Pacific Financial Stock Performance

CPF opened at $25.11 on Friday. The firm has a market cap of $680.88 million, a P/E ratio of 12.75 and a beta of 0.98. Central Pacific Financial Corp. has a 1-year low of $19.24 and a 1-year high of $33.25. The company has a 50 day simple moving average of $26.97 and a two-hundred day simple moving average of $28.57. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.85 and a quick ratio of 0.85.

Central Pacific Financial (NYSE:CPF) last issued its quarterly earnings results on Wednesday, January 29th. The financial services provider reported $0.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.61 by $0.09. Central Pacific Financial had a return on equity of 12.03% and a net margin of 15.49%. Equities analysts forecast that Central Pacific Financial Corp. will post 2.75 earnings per share for the current fiscal year.

Central Pacific Financial Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Friday, February 28th were paid a $0.27 dividend. This represents a $1.08 annualized dividend and a yield of 4.30%. This is an increase from Central Pacific Financial’s previous quarterly dividend of $0.26. The ex-dividend date of this dividend was Friday, February 28th. Central Pacific Financial’s dividend payout ratio is presently 54.82%.

Analysts Set New Price Targets

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

Central Pacific Financial Company 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.