Xact Kapitalforvaltning AB reduced its position in shares of Central Pacific Financial Corp. (NYSE:CPF) by 26.6% during the first quarter, HoldingsChannel.com reports. The fund owned 14,095 shares of the financial services provider’s stock after selling 5,100 shares during the quarter. Xact Kapitalforvaltning AB’s holdings in Central Pacific Financial were worth $406,000 at the end of the most recent reporting period.
A number of other large investors have also recently added to or reduced their stakes in the stock. Robeco Institutional Asset Management B.V. grew its holdings in Central Pacific Financial by 17.3% during the 1st quarter. Robeco Institutional Asset Management B.V. now owns 64,126 shares of the financial services provider’s stock valued at $1,848,000 after purchasing an additional 9,462 shares during the last quarter. Geode Capital Management LLC lifted its stake in Central Pacific Financial by 10.0% during the fourth quarter. Geode Capital Management LLC now owns 318,635 shares of the financial services provider’s stock worth $7,758,000 after purchasing an additional 28,940 shares during the last quarter. Millennium Management LLC lifted its stake in Central Pacific Financial by 13.8% during the fourth quarter. Millennium Management LLC now owns 323,181 shares of the financial services provider’s stock worth $7,869,000 after purchasing an additional 39,258 shares during the last quarter. Rhumbline Advisers lifted its stake in Central Pacific Financial by 18.0% during the fourth quarter. Rhumbline Advisers now owns 94,872 shares of the financial services provider’s stock worth $2,310,000 after purchasing an additional 14,458 shares during the last quarter. Finally, New York State Common Retirement Fund lifted its stake in Central Pacific Financial by 10.2% during the first quarter. New York State Common Retirement Fund now owns 72,000 shares of the financial services provider’s stock worth $2,076,000 after purchasing an additional 6,649 shares during the last quarter. 96.08% of the stock is currently owned by hedge funds and other institutional investors.
In related news, Director Duane K. Kurisu bought 900 shares of the business’s stock in a transaction on Friday, June 7th. The shares were purchased at an average price of $28.33 per share, with a total value of $25,497.00. Following the completion of the purchase, the director now owns 19,323 shares of the company’s stock, valued at approximately $547,420.59. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director John C. Dean sold 20,000 shares of the stock in a transaction dated Wednesday, April 24th. The stock was sold at an average price of $30.42, for a total value of $608,400.00. Following the completion of the sale, the director now owns 3,398 shares of the company’s stock, valued at $103,367.16. The disclosure for this sale can be found here. Corporate insiders own 3.80% of the company’s stock.
Shares of Central Pacific Financial stock traded down $0.11 during trading on Friday, hitting $28.75. 370 shares of the stock traded hands, compared to its average volume of 94,141. The firm has a market cap of $817.37 million, a price-to-earnings ratio of 14.33 and a beta of 1.02. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.81 and a quick ratio of 0.81. Central Pacific Financial Corp. has a twelve month low of $23.23 and a twelve month high of $30.82.
Central Pacific Financial (NYSE:CPF) last issued its quarterly earnings results on Wednesday, April 24th. The financial services provider reported $0.55 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.52 by $0.03. The company had revenue of $56.79 million for the quarter, compared to the consensus estimate of $54.80 million. Central Pacific Financial had a return on equity of 12.54% and a net margin of 24.93%. As a group, equities research analysts predict that Central Pacific Financial Corp. will post 2.1 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Monday, June 17th. Shareholders of record on Friday, May 31st will be given a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 3.20%. This is a boost from Central Pacific Financial’s previous quarterly dividend of $0.21. The ex-dividend date is Thursday, May 30th. Central Pacific Financial’s dividend payout ratio is 45.77%.
About Central Pacific Financial
Central Pacific Financial Corp. operates as the holding company for Central Pacific Bank that provides commercial banking products and services to businesses, professionals, and individuals in Hawaii. The company operates in three segments: Banking Operations, Treasury, and All Others. It offers various deposit products and services, including personal and business checking and savings accounts, money market accounts, and time certificates of deposit.
Further Reading: Moving Average Convergence Divergence (MACD)
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