American Century Companies Inc. Acquires 77,032 Shares of Central Pacific Financial Corp. (NYSE:CPF)

American Century Companies Inc. increased its position in shares of Central Pacific Financial Corp. (NYSE:CPF - Free Report) by 13.2% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 659,482 shares of the financial services provider's stock after buying an additional 77,032 shares during the period. American Century Companies Inc. owned 2.44% of Central Pacific Financial worth $19,158,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Picton Mahoney Asset Management bought a new position in shares of Central Pacific Financial in the 4th quarter worth about $30,000. SBI Securities Co. Ltd. acquired a new stake in Central Pacific Financial during the fourth quarter worth approximately $31,000. Quarry LP bought a new stake in Central Pacific Financial in the third quarter worth approximately $53,000. Quantbot Technologies LP acquired a new position in Central Pacific Financial in the fourth quarter valued at approximately $55,000. Finally, SG Americas Securities LLC lifted its stake in Central Pacific Financial by 7.2% in the fourth quarter. SG Americas Securities LLC now owns 6,643 shares of the financial services provider's stock valued at $193,000 after buying an additional 448 shares during the period. Institutional investors and hedge funds own 88.42% of the company's stock.

Central Pacific Financial Stock Down 8.8 %

CPF traded down $2.39 during midday trading on Thursday, hitting $24.89. The company had a trading volume of 175,498 shares, compared to its average volume of 203,865. The stock's 50 day moving average price is $28.24 and its 200 day moving average price is $28.91. Central Pacific Financial Corp. has a 52 week low of $18.53 and a 52 week high of $33.25. The company has a market capitalization of $674.92 million, a price-to-earnings ratio of 12.63 and a beta of 1.17. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.35.

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Central Pacific Financial (NYSE:CPF - Get Free Report) last issued its earnings results on Wednesday, January 29th. The financial services provider reported $0.70 EPS for the quarter, beating analysts' consensus estimates of $0.61 by $0.09. Central Pacific Financial had a return on equity of 12.03% and a net margin of 15.49%. On average, research analysts anticipate that Central Pacific Financial Corp. will post 2.75 earnings per share for the current fiscal year.

Central Pacific Financial Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Friday, February 28th were given a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a dividend yield of 4.34%. This is a positive change from Central Pacific Financial's previous quarterly dividend of $0.26. The ex-dividend date of this dividend was Friday, February 28th. Central Pacific Financial's dividend payout ratio is presently 54.82%.

Analysts Set New Price Targets

Separately, StockNews.com raised shares of Central Pacific Financial from a "sell" rating to a "hold" rating in a research report on Thursday, March 20th.

Central Pacific Financial 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.