LSV Asset Management Has $10.77 Million Stock Position in Central Pacific Financial Corp. (NYSE:CPF)

LSV Asset Management grew its holdings in Central Pacific Financial Corp. (NYSE:CPF) by 11.0% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 547,401 shares of the financial services provider’s stock after acquiring an additional 54,361 shares during the period. LSV Asset Management’s holdings in Central Pacific Financial were worth $10,773,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also made changes to their positions in the company. Quantbot Technologies LP raised its position in shares of Central Pacific Financial by 11.8% in the third quarter. Quantbot Technologies LP now owns 11,372 shares of the financial services provider’s stock valued at $190,000 after purchasing an additional 1,202 shares during the period. New York State Common Retirement Fund boosted its holdings in shares of Central Pacific Financial by 77.5% during the third quarter. New York State Common Retirement Fund now owns 12,619 shares of the financial services provider’s stock worth $210,000 after acquiring an additional 5,509 shares during the period. Natixis Advisors L.P. acquired a new position in shares of Central Pacific Financial in the fourth quarter valued at approximately $222,000. Mirae Asset Global Investments Co. Ltd. lifted its holdings in Central Pacific Financial by 6.1% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 14,675 shares of the financial services provider’s stock worth $245,000 after purchasing an additional 841 shares during the last quarter. Finally, Louisiana State Employees Retirement System bought a new stake in Central Pacific Financial in the 4th quarter valued at $266,000. 88.42% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

Insiders Place Their Bets

In related news, Director Agnes Catherine Ngo sold 3,333 shares of the business’s stock in a transaction on Friday, April 12th. The stock was sold at an average price of $19.00, for a total transaction of $63,327.00. Following the sale, the director now owns 85,356 shares in the company, valued at approximately $1,621,764. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Over the last quarter, insiders have sold 9,999 shares of company stock valued at $192,547. 2.30% of the stock is currently owned by insiders.

Central Pacific Financial Trading Down 0.6 %

Shares of Central Pacific Financial stock opened at $20.77 on Wednesday. The firm’s 50-day moving average price is $19.38 and its two-hundred day moving average price is $18.81. The company has a market capitalization of $561.62 million, a price-to-earnings ratio of 10.13 and a beta of 1.12. The company has a quick ratio of 0.85, a current ratio of 0.86 and a debt-to-equity ratio of 0.37. Central Pacific Financial Corp. has a 12-month low of $13.46 and a 12-month high of $22.00.

Central Pacific Financial (NYSE:CPF) last announced its quarterly earnings data on Wednesday, April 24th. The financial services provider reported $0.48 EPS for the quarter, beating the consensus estimate of $0.45 by $0.03. Central Pacific Financial had a net margin of 16.44% and a return on equity of 11.34%. The business had revenue of $61.43 million during the quarter, compared to the consensus estimate of $60.78 million. On average, analysts forecast that Central Pacific Financial Corp. will post 2 earnings per share for the current fiscal year.

Central Pacific Financial Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 17th. Shareholders of record on Friday, May 31st will be given a $0.26 dividend. The ex-dividend date is Thursday, May 30th. This represents a $1.04 dividend on an annualized basis and a yield of 5.01%. Central Pacific Financial’s dividend payout ratio is currently 50.73%.

About Central Pacific Financial

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.