Raymond James Financial Inc. Buys New Position in Central Pacific Financial Corp. (NYSE:CPF)

Raymond James Financial Inc. purchased a new position in Central Pacific Financial Corp. (NYSE:CPF - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 58,926 shares of the financial services provider's stock, valued at approximately $1,712,000. Raymond James Financial Inc. owned about 0.22% of Central Pacific Financial at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in the stock. Victory Capital Management Inc. boosted its position in Central Pacific Financial by 7.5% in the 4th quarter. Victory Capital Management Inc. now owns 31,156 shares of the financial services provider's stock valued at $905,000 after buying an additional 2,183 shares during the period. SBI Securities Co. Ltd. purchased a new stake in shares of Central Pacific Financial in the fourth quarter valued at approximately $31,000. Bailard Inc. grew its stake in Central Pacific Financial by 10.2% in the fourth quarter. Bailard Inc. now owns 25,936 shares of the financial services provider's stock worth $753,000 after purchasing an additional 2,400 shares in the last quarter. Y Intercept Hong Kong Ltd bought a new position in Central Pacific Financial in the fourth quarter worth approximately $413,000. Finally, Principal Financial Group Inc. increased its holdings in Central Pacific Financial by 4.1% during the 4th quarter. Principal Financial Group Inc. now owns 152,043 shares of the financial services provider's stock worth $4,417,000 after purchasing an additional 5,978 shares during the period. Hedge funds and other institutional investors own 88.42% of the company's stock.

Analyst Upgrades and Downgrades

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 Down 4.1 %

Central Pacific Financial stock traded down $1.03 during midday trading on Friday, hitting $23.91. 222,848 shares of the company's stock were exchanged, compared to its average volume of 204,404. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.85 and a current ratio of 0.85. The company has a market cap of $648.21 million, a PE ratio of 12.13 and a beta of 1.17. The firm has a 50-day moving average of $28.15 and a two-hundred day moving average of $28.89. Central Pacific Financial Corp. has a 12 month low of $18.53 and a 12 month high of $33.25.

Central Pacific Financial (NYSE:CPF - Get Free Report) last released its quarterly earnings data on Wednesday, January 29th. The financial services provider reported $0.70 earnings per share (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, analysts expect that Central Pacific Financial Corp. will post 2.75 earnings per share for the current fiscal year.

Central Pacific Financial Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Friday, February 28th were issued a $0.27 dividend. The ex-dividend date was Friday, February 28th. This is an increase 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 4.52%. Central Pacific Financial's dividend payout ratio (DPR) is currently 54.82%.

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.