Victory Capital Management Inc. Purchases 3,300 Shares of Central Pacific Financial Corp. (NYSE:CPF)

Victory Capital Management Inc. boosted its position in Central Pacific Financial Corp. (NYSE:CPF) by 9.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 36,500 shares of the financial services provider’s stock after purchasing an additional 3,300 shares during the quarter. Victory Capital Management Inc. owned approximately 0.13% of Central Pacific Financial worth $718,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Quantbot Technologies LP lifted its position in Central Pacific Financial by 11.8% during the 3rd quarter. Quantbot Technologies LP now owns 11,372 shares of the financial services provider’s stock valued at $190,000 after acquiring an additional 1,202 shares during the period. New York State Common Retirement Fund increased its position in Central Pacific Financial by 77.5% during the 3rd quarter. New York State Common Retirement Fund now owns 12,619 shares of the financial services provider’s stock valued at $210,000 after buying an additional 5,509 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its stake in Central Pacific Financial by 6.1% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 14,675 shares of the financial services provider’s stock valued at $245,000 after buying an additional 841 shares during the last quarter. Louisiana State Employees Retirement System bought a new stake in Central Pacific Financial in the fourth quarter worth $266,000. Finally, Illinois Municipal Retirement Fund purchased a new stake in shares of Central Pacific Financial in the third quarter worth $282,000. Hedge funds and other institutional investors own 88.42% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Piper Sandler upped their price target 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 Price Performance

Shares of NYSE CPF opened at $21.00 on Thursday. The firm has a market cap of $567.88 million, a P/E ratio of 10.24 and a beta of 1.12. Central Pacific Financial Corp. has a twelve month low of $14.25 and a twelve month high of $22.00. The company has a quick ratio of 0.85, a current ratio of 0.86 and a debt-to-equity ratio of 0.37. The company has a 50 day moving average of $19.86 and a 200 day moving average of $19.19.

Central Pacific Financial (NYSE:CPF) last posted its quarterly earnings results 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 firm had revenue of $61.43 million during the quarter, compared to analysts’ expectations of $60.78 million. As a group, research analysts expect that Central Pacific Financial Corp. will post 2 EPS for the current fiscal year.

Central Pacific Financial Announces Dividend

The business also recently declared 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 dividend on an annualized basis and a dividend yield of 4.95%. The ex-dividend date of this dividend is Friday, May 31st. Central Pacific Financial’s payout ratio is presently 50.73%.

Insider Transactions at Central Pacific Financial

In related news, Director Agnes Catherine Ngo sold 3,333 shares of the firm’s stock in a transaction that occurred on Friday, April 12th. The shares were sold at an average price of $19.00, for a total value of $63,327.00. Following the sale, the director now owns 85,356 shares in the company, valued at $1,621,764. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders sold 9,999 shares of company stock worth $198,347 over the last three months. 2.30% of the stock is currently owned by company insiders.

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.