North Reef Capital Management LP Raises Stock Position in Central Pacific Financial Corp. (NYSE:CPF)

North Reef Capital Management LP grew its holdings in shares of Central Pacific Financial Corp. (NYSE:CPF - Free Report) by 264.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 188,558 shares of the financial services provider's stock after buying an additional 136,843 shares during the quarter. North Reef Capital Management LP owned 0.70% of Central Pacific Financial worth $5,478,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in CPF. Picton Mahoney Asset Management bought a new stake in shares of Central Pacific Financial in the 4th quarter valued at approximately $30,000. SBI Securities Co. Ltd. purchased a new stake in Central Pacific Financial during the 4th quarter valued at $31,000. Quantbot Technologies LP bought a new stake in Central Pacific Financial in the fourth quarter worth $55,000. KLP Kapitalforvaltning AS purchased a new position in Central Pacific Financial during the fourth quarter worth $168,000. Finally, SG Americas Securities LLC increased its position in Central Pacific Financial by 7.2% during the fourth quarter. SG Americas Securities LLC now owns 6,643 shares of the financial services provider's stock valued at $193,000 after acquiring an additional 448 shares during the last quarter. Hedge funds and other institutional investors own 88.42% of the company's stock.

Central Pacific Financial Trading Up 0.7 %

Shares of NYSE:CPF traded up $0.18 during trading hours on Tuesday, hitting $25.99. 106,349 shares of the company's stock traded hands, compared to its average volume of 188,529. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.85 and a quick ratio of 0.85. The business has a fifty day moving average price of $26.53 and a 200-day moving average price of $28.47. Central Pacific Financial Corp. has a 1 year low of $19.52 and a 1 year high of $33.25. The firm has a market capitalization of $704.77 million, a P/E ratio of 13.19 and a beta of 0.98.

Central Pacific Financial (NYSE:CPF - Get Free Report) last released its earnings results on Wednesday, April 23rd. The financial services provider reported $0.65 earnings per share for the quarter, topping the consensus estimate of $0.63 by $0.02. Central Pacific Financial had a return on equity of 12.03% and a net margin of 15.49%. The business had revenue of $68.80 million during the quarter, compared to the consensus estimate of $68.93 million. During the same period last year, the company earned $0.48 earnings per share. Equities analysts expect that Central Pacific Financial Corp. will post 2.75 earnings per share for the current year.

Central Pacific Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Friday, May 30th will be issued a $0.27 dividend. The ex-dividend date is Friday, May 30th. This represents a $1.08 annualized dividend and a dividend yield of 4.16%. Central Pacific Financial's payout ratio is currently 50.47%.

Wall Street Analysts Forecast Growth

Separately, StockNews.com raised shares of Central Pacific Financial from a "sell" rating to a "hold" rating in a research note 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.