Central Pacific Financial Corp. (NYSE:CPF) Shares Purchased by JPMorgan Chase & Co.

JPMorgan Chase & Co. lifted its stake in Central Pacific Financial Corp. (NYSE:CPF - Free Report) by 6.4% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 431,498 shares of the financial services provider's stock after acquiring an additional 26,139 shares during the quarter. JPMorgan Chase & Co. owned 1.59% of Central Pacific Financial worth $12,734,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the stock. Dimensional Fund Advisors LP lifted its holdings in shares of Central Pacific Financial by 5.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,404,043 shares of the financial services provider's stock worth $29,765,000 after acquiring an additional 77,868 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Central Pacific Financial by 4.0% in the 3rd quarter. Geode Capital Management LLC now owns 640,369 shares of the financial services provider's stock worth $18,901,000 after acquiring an additional 24,686 shares during the last quarter. Renaissance Technologies LLC lifted its holdings in shares of Central Pacific Financial by 3.6% in the 2nd quarter. Renaissance Technologies LLC now owns 550,400 shares of the financial services provider's stock worth $11,668,000 after acquiring an additional 19,247 shares during the last quarter. Basswood Capital Management L.L.C. acquired a new stake in Central Pacific Financial during the 3rd quarter worth approximately $15,455,000. Finally, American Century Companies Inc. boosted its position in Central Pacific Financial by 17.8% in the 2nd quarter. American Century Companies Inc. now owns 511,590 shares of the financial services provider's stock valued at $10,846,000 after buying an additional 77,265 shares during the period. 88.42% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, StockNews.com cut shares of Central Pacific Financial from a "hold" rating to a "sell" rating in a research report on Tuesday, December 10th.

Central Pacific Financial Stock Down 3.5 %

CPF stock traded down $0.95 during midday trading on Friday, hitting $26.49. The company's stock had a trading volume of 161,058 shares, compared to its average volume of 262,343. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.29. Central Pacific Financial Corp. has a 52-week low of $18.00 and a 52-week high of $33.25. The firm has a market capitalization of $716.95 million, a P/E ratio of 12.61 and a beta of 1.19. The firm has a 50-day simple moving average of $30.02 and a 200-day simple moving average of $27.61.

Central Pacific Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Friday, November 29th were given a $0.26 dividend. The ex-dividend date of this dividend was Friday, November 29th. This represents a $1.04 annualized dividend and a yield of 3.93%. Central Pacific Financial's dividend payout ratio is presently 49.52%.

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.