JPMorgan Chase & Co. Increases Stock Holdings in Central Pacific Financial Corp. (NYSE:CPF)

JPMorgan Chase & Co. raised its holdings in shares of Central Pacific Financial Corp. (NYSE:CPF - Free Report) by 36.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 589,609 shares of the financial services provider's stock after buying an additional 158,111 shares during the quarter. JPMorgan Chase & Co. owned about 2.18% of Central Pacific Financial worth $17,128,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the business. SG Americas Securities LLC raised its position in shares of Central Pacific Financial by 7.2% during the 4th 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. Diversified Trust Co lifted its stake in shares of Central Pacific Financial by 9.8% in the 4th quarter. Diversified Trust Co now owns 8,787 shares of the financial services provider's stock valued at $255,000 after purchasing an additional 783 shares during the last quarter. Picton Mahoney Asset Management purchased a new position in shares of Central Pacific Financial during the 4th quarter worth $30,000. SBI Securities Co. Ltd. acquired a new stake in shares of Central Pacific Financial during the fourth quarter valued at about $31,000. Finally, Quantbot Technologies LP acquired a new position in shares of Central Pacific Financial in the 4th quarter worth approximately $55,000. Institutional investors and hedge funds own 88.42% of the company's stock.

Analyst Ratings Changes

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

Central Pacific Financial Stock Up 0.4 %

Shares of CPF traded up $0.10 during midday trading on Thursday, hitting $25.02. The company had a trading volume of 15,573 shares, compared to its average volume of 204,685. The company's 50-day simple moving average is $27.15 and its 200-day simple moving average is $28.62. 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 1 year low of $18.60 and a 1 year high of $33.25. The firm has a market capitalization of $678.31 million, a P/E ratio of 12.76 and a beta of 0.98.

Central Pacific Financial (NYSE:CPF - Get Free Report) last posted 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 net margin of 15.49% and a return on equity of 12.03%. As a group, sell-side analysts expect that Central Pacific Financial Corp. will post 2.75 EPS for the current year.

Central Pacific Financial Increases Dividend

The firm 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. 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 dividend on an annualized basis and a dividend yield of 4.32%. Central Pacific Financial's dividend payout ratio (DPR) is 54.82%.

Central Pacific Financial Company 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.