Great West Life Assurance Co. Can decreased its position in Central Pacific Financial Corp. (NYSE:CPF) by 9.6% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 39,562 shares of the financial services provider’s stock after selling 4,211 shares during the period. Great West Life Assurance Co. Can owned approximately 0.13% of Central Pacific Financial worth $1,266,000 at the end of the most recent reporting period.
Other institutional investors have also recently made changes to their positions in the company. QS Investors LLC increased its position in shares of Central Pacific Financial by 4.7% during the 2nd quarter. QS Investors LLC now owns 4,532 shares of the financial services provider’s stock valued at $143,000 after purchasing an additional 203 shares during the last quarter. Verition Fund Management LLC purchased a new stake in Central Pacific Financial in the 2nd quarter worth approximately $211,000. Laurion Capital Management LP purchased a new stake in Central Pacific Financial in the 2nd quarter worth approximately $245,000. BlueCrest Capital Management Ltd purchased a new stake in Central Pacific Financial in the 2nd quarter worth approximately $253,000. Finally, Cubist Systematic Strategies LLC purchased a new stake in Central Pacific Financial in the 2nd quarter worth approximately $291,000. Institutional investors own 92.12% of the company’s stock.
Separately, Zacks Investment Research lowered shares of Central Pacific Financial from a “hold” rating to a “sell” rating in a report on Monday, December 18th.
In other news, insider Blenn Fujimoto sold 3,350 shares of the stock in a transaction that occurred on Tuesday, November 7th. The stock was sold at an average price of $30.19, for a total transaction of $101,136.50. Following the completion of the transaction, the insider now directly owns 16,686 shares in the company, valued at approximately $503,750.34. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 4.10% of the stock is currently owned by corporate insiders.
Shares of Central Pacific Financial Corp. (NYSE:CPF) traded up $0.17 on Friday, reaching $31.02. 74,406 shares of the company’s stock were exchanged, compared to its average volume of 149,202. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.75 and a current ratio of 0.75. Central Pacific Financial Corp. has a twelve month low of $27.34 and a twelve month high of $33.55. The stock has a market cap of $936.46, a price-to-earnings ratio of 19.51 and a beta of 1.19.
Central Pacific Financial (NYSE:CPF) last announced its quarterly earnings data on Wednesday, October 25th. The financial services provider reported $0.39 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.02). The company had revenue of $51.69 million for the quarter, compared to analysts’ expectations of $52.43 million. Central Pacific Financial had a net margin of 22.45% and a return on equity of 9.64%. The company’s quarterly revenue was up 3.1% compared to the same quarter last year. During the same period last year, the business earned $0.37 earnings per share. equities research analysts expect that Central Pacific Financial Corp. will post 1.62 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, December 15th. Stockholders of record on Thursday, November 30th were given a dividend of $0.18 per share. The ex-dividend date of this dividend was Wednesday, November 29th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 2.32%. Central Pacific Financial’s dividend payout ratio is currently 45.28%.
Central Pacific Financial announced that its Board of Directors has initiated a share repurchase program on Wednesday, November 15th that authorizes the company to repurchase $50.00 million in shares. This repurchase authorization authorizes the financial services provider to repurchase shares of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s leadership believes its shares are undervalued.
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Central Pacific Financial Company Profile
Central Pacific Financial Corp. is the bank holding company of Central Pacific Bank (the Bank). The Company’s segments include Banking Operations, Treasury and All Others. The Banking Operations segment includes construction and real estate development lending, commercial lending, residential mortgage lending, consumer lending, trust services, retail brokerage services and its retail branch offices, which provide a range of deposit and loan products, as well as various other banking services.
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