Rhumbline Advisers Acquires 6,582 Shares of Central Pacific Financial Corp. (NYSE:CPF)

Rhumbline Advisers boosted its position in Central Pacific Financial Corp. (NYSE:CPF) by 8.1% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 87,904 shares of the financial services provider’s stock after acquiring an additional 6,582 shares during the period. Rhumbline Advisers owned 0.32% of Central Pacific Financial worth $2,377,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. New York State Teachers Retirement System boosted its position in shares of Central Pacific Financial by 10.8% in the 4th quarter. New York State Teachers Retirement System now owns 26,892 shares of the financial services provider’s stock worth $781,000 after purchasing an additional 2,617 shares in the last quarter. Principal Financial Group Inc. raised its holdings in Central Pacific Financial by 4.1% in the 4th 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. Y Intercept Hong Kong Ltd bought a new stake in shares of Central Pacific Financial during the 4th quarter valued at $413,000. Bailard Inc. raised its stake in Central Pacific Financial by 10.2% during the 4th quarter. Bailard Inc. now owns 25,936 shares of the financial services provider’s stock valued at $753,000 after purchasing an additional 2,400 shares during the period. Finally, SBI Securities Co. Ltd. bought a new stake in Central Pacific Financial in the 4th quarter valued at $31,000. Institutional investors own 88.42% of the company’s stock.

Insiders Place Their Bets

In other Central Pacific Financial news, Director Paul K. Yonamine sold 2,765 shares of the stock in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $26.31, for a total transaction of $72,747.15. Following the completion of the transaction, the director now owns 19,711 shares of the company’s stock, valued at $518,596.41. This represents a 12.30% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Agnes Catherine Ngo sold 3,333 shares of the firm’s stock in a transaction that occurred on Thursday, June 12th. The stock was sold at an average price of $26.99, for a total transaction of $89,957.67. Following the sale, the director now owns 72,125 shares of the company’s stock, valued at $1,946,653.75. This represents a 4.42% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 9,431 shares of company stock worth $255,062. Company insiders own 2.40% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Wall Street Zen raised Central Pacific Financial from a “sell” rating to a “hold” rating in a research report on Thursday, March 20th.

Central Pacific Financial Stock Down 1.7%

CPF stock opened at $26.03 on Tuesday. Central Pacific Financial Corp. has a 52 week low of $19.68 and a 52 week high of $33.25. The firm has a 50 day moving average of $26.31 and a 200 day moving average of $27.68. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.35. The stock has a market capitalization of $702.13 million, a PE ratio of 13.21 and a beta of 1.04.

Central Pacific Financial (NYSE:CPF) last announced its quarterly earnings data on Wednesday, April 23rd. The financial services provider reported $0.65 EPS for the quarter, beating the consensus estimate of $0.63 by $0.02. The business had revenue of $68.80 million during the quarter, compared to analysts’ expectations of $68.93 million. Central Pacific Financial had a net margin of 15.49% and a return on equity of 12.03%. During the same period in the previous year, the business posted $0.48 EPS. Sell-side analysts forecast that Central Pacific Financial Corp. will post 2.75 earnings per share for the current year.

Central Pacific Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Friday, May 30th were given a $0.27 dividend. The ex-dividend date was Friday, May 30th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 4.15%. Central Pacific Financial’s dividend payout ratio (DPR) is currently 50.47%.

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.