CIBC Private Wealth Group LLC Boosts Stock Holdings in Central Pacific Financial Corp. (NYSE:CPF)

CIBC Private Wealth Group LLC lifted its holdings in Central Pacific Financial Corp. (NYSE:CPF - Free Report) by 4,424.8% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 15,339 shares of the financial services provider's stock after buying an additional 15,000 shares during the period. CIBC Private Wealth Group LLC owned approximately 0.06% of Central Pacific Financial worth $421,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Picton Mahoney Asset Management bought a new stake in shares of Central Pacific Financial in the 4th quarter worth approximately $30,000. SBI Securities Co. Ltd. bought a new stake in shares of Central Pacific Financial in the 4th quarter worth approximately $31,000. Quarry LP bought a new stake in shares of Central Pacific Financial in the 3rd quarter worth approximately $53,000. Quantbot Technologies LP bought a new stake in shares of Central Pacific Financial in the 4th quarter worth approximately $55,000. Finally, KLP Kapitalforvaltning AS bought a new stake in shares of Central Pacific Financial in the 4th quarter worth approximately $168,000. Hedge funds and other institutional investors own 88.42% of the company's stock.

Central Pacific Financial Stock Performance

CPF stock traded down $1.30 during midday trading on Thursday, reaching $23.95. 14,544 shares of the company's stock traded hands, compared to its average volume of 204,798. The company has a 50-day moving average price of $27.71 and a two-hundred day moving average price of $28.75. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.85 and a current ratio of 0.85. Central Pacific Financial Corp. has a 52 week low of $18.53 and a 52 week high of $33.25. The firm has a market capitalization of $649.48 million, a PE ratio of 12.19 and a beta of 0.98.

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

Central Pacific Financial Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Friday, February 28th were given a $0.27 dividend. The ex-dividend date was Friday, February 28th. This is a positive change from Central Pacific Financial's previous quarterly dividend of $0.26. This represents a $1.08 annualized dividend and a yield of 4.51%. Central Pacific Financial's payout ratio is 54.82%.

Wall Street Analyst Weigh In

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

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.