Russell Investments Group Ltd. Acquires 52,150 Shares of Central Pacific Financial Corp. (NYSE:CPF)

Russell Investments Group Ltd. boosted its holdings in shares of Central Pacific Financial Corp. (NYSE:CPF - Free Report) by 1,268.5% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 56,261 shares of the financial services provider's stock after buying an additional 52,150 shares during the period. Russell Investments Group Ltd. owned approximately 0.21% of Central Pacific Financial worth $1,634,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently bought and sold shares of the business. Jane Street Group LLC increased its holdings in Central Pacific Financial by 62.7% in the third quarter. Jane Street Group LLC now owns 40,463 shares of the financial services provider's stock worth $1,194,000 after buying an additional 15,599 shares during the last quarter. Barclays PLC raised its position in Central Pacific Financial by 84.3% in the 3rd quarter. Barclays PLC now owns 58,493 shares of the financial services provider's stock valued at $1,726,000 after purchasing an additional 26,755 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Central Pacific Financial by 4.0% in the third quarter. Geode Capital Management LLC now owns 640,369 shares of the financial services provider's stock valued at $18,901,000 after buying an additional 24,686 shares during the last quarter. Franklin Resources Inc. lifted its position in Central Pacific Financial by 4.0% during the 3rd quarter. Franklin Resources Inc. now owns 56,148 shares of the financial services provider's stock worth $1,634,000 after buying an additional 2,151 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its position in Central Pacific Financial by 6.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 431,498 shares of the financial services provider's stock valued at $12,734,000 after acquiring an additional 26,139 shares in the last quarter. 88.42% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

Central Pacific Financial Trading Down 2.2 %

Shares of Central Pacific Financial stock traded down $0.57 on Thursday, hitting $25.82. 16,528 shares of the company's stock traded hands, compared to its average volume of 204,203. Central Pacific Financial Corp. has a one year low of $19.46 and a one year high of $33.25. 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 stock has a market capitalization of $700.14 million, a PE ratio of 13.02 and a beta of 0.98. The firm's 50-day moving average price is $26.75 and its two-hundred day moving average price is $28.52.

Central Pacific Financial (NYSE:CPF - Get Free Report) last issued its quarterly earnings data on Wednesday, April 23rd. The financial services provider reported $0.65 earnings per share for the quarter, beating the consensus estimate of $0.63 by $0.02. The company had revenue of $68.80 million for the quarter, compared to analyst estimates of $68.93 million. Central Pacific Financial had a net margin of 15.49% and a return on equity of 12.03%. During the same period in the prior year, the firm earned $0.48 earnings per share. On average, research analysts expect that Central Pacific Financial Corp. will post 2.75 EPS for the current fiscal year.

Central Pacific Financial Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Friday, February 28th were issued a $0.27 dividend. 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 4.18%. The ex-dividend date was Friday, February 28th. Central Pacific Financial's dividend payout ratio (DPR) is currently 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.