Assenagon Asset Management S.A. Raises Stock Holdings in Central Pacific Financial Corp. (NYSE:CPF)

Assenagon Asset Management S.A. boosted its stake in Central Pacific Financial Corp. (NYSE:CPFFree Report) by 45.1% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 384,405 shares of the financial services provider’s stock after buying an additional 119,399 shares during the period. Assenagon Asset Management S.A. owned approximately 1.42% of Central Pacific Financial worth $7,565,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. GSA Capital Partners LLP raised its holdings in Central Pacific Financial by 6.8% in the 3rd quarter. GSA Capital Partners LLP now owns 11,180 shares of the financial services provider’s stock valued at $186,000 after buying an additional 709 shares during the period. AQR Capital Management LLC raised its holdings in Central Pacific Financial by 0.3% in the 3rd 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. Citigroup Inc. grew its position in Central Pacific Financial by 3.0% in the 1st quarter. Citigroup Inc. now owns 27,767 shares of the financial services provider’s stock valued at $775,000 after acquiring an additional 803 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its position in Central Pacific Financial by 6.1% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 14,675 shares of the financial services provider’s stock valued at $245,000 after acquiring an additional 841 shares in the last quarter. Finally, Tower Research Capital LLC TRC grew its position in Central Pacific Financial by 15.6% in the 2nd quarter. Tower Research Capital LLC TRC now owns 6,497 shares of the financial services provider’s stock valued at $102,000 after acquiring an additional 879 shares in the last quarter. 88.42% of the stock is currently owned by hedge funds and other institutional investors.

Central Pacific Financial Stock Performance

Shares of Central Pacific Financial stock opened at $19.75 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 $534.24 million, a PE ratio of 9.10 and a beta of 1.14. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.86 and a current ratio of 0.86. The business has a 50-day simple moving average of $19.14 and a 200-day simple moving average of $18.17.

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

Central Pacific Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Thursday, February 29th were given a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a dividend yield of 5.27%. The ex-dividend date of this dividend was Wednesday, February 28th. Central Pacific Financial’s dividend payout ratio is presently 47.93%.

Analyst Upgrades and Downgrades

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

Check Out Our Latest Report on CPF

Insider Activity at Central Pacific Financial

In related news, Director Agnes Catherine Ngo sold 3,333 shares of the company’s stock in a transaction that occurred on Friday, January 12th. The stock was sold at an average price of $19.16, for a total value of $63,860.28. Following the completion of the transaction, the director now directly owns 95,355 shares of the company’s stock, valued at $1,827,001.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders sold 9,999 shares of company stock valued at $193,081 over the last three months. 2.70% of the stock is owned by corporate insiders.

About Central Pacific Financial

(Free Report)

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.

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Institutional Ownership by Quarter for Central Pacific Financial (NYSE:CPF)

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