Xact Kapitalforvaltning AB increased its stake in Central Pacific Financial Corp. (NYSE:CPF) by 25.6% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 16,195 shares of the financial services provider’s stock after purchasing an additional 3,300 shares during the period. Xact Kapitalforvaltning AB owned approximately 0.06% of Central Pacific Financial worth $428,000 as of its most recent filing with the Securities and Exchange Commission.
Other large investors have also modified their holdings of the company. Bank of Montreal Can raised its stake in Central Pacific Financial by 30.8% during the third quarter. Bank of Montreal Can now owns 122,978 shares of the financial services provider’s stock worth $3,251,000 after buying an additional 28,926 shares during the last quarter. Northern Trust Corp raised its stake in Central Pacific Financial by 1.2% during the second quarter. Northern Trust Corp now owns 471,054 shares of the financial services provider’s stock worth $13,496,000 after buying an additional 5,699 shares during the last quarter. Renaissance Technologies LLC raised its stake in Central Pacific Financial by 4.6% during the second quarter. Renaissance Technologies LLC now owns 544,653 shares of the financial services provider’s stock worth $15,604,000 after buying an additional 24,200 shares during the last quarter. BlueMountain Capital Management LLC raised its stake in Central Pacific Financial by 17.5% during the second quarter. BlueMountain Capital Management LLC now owns 14,061 shares of the financial services provider’s stock worth $403,000 after buying an additional 2,090 shares during the last quarter. Finally, Itau Unibanco Holding S.A. bought a new position in Central Pacific Financial during the second quarter worth $102,000. 92.73% of the stock is currently owned by hedge funds and other institutional investors.
Separately, Zacks Investment Research downgraded shares of Central Pacific Financial from a “hold” rating to a “sell” rating in a research note on Friday, July 27th.
Central Pacific Financial (NYSE:CPF) last announced its earnings results on Wednesday, October 24th. The financial services provider reported $0.52 earnings per share for the quarter, topping analysts’ consensus estimates of $0.47 by $0.05. Central Pacific Financial had a net margin of 20.71% and a return on equity of 11.41%. The business had revenue of $54.15 million during the quarter, compared to the consensus estimate of $53.15 million. On average, research analysts predict that Central Pacific Financial Corp. will post 1.96 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Monday, December 17th. Investors of record on Friday, November 30th will be paid a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 3.01%. The ex-dividend date of this dividend is Thursday, November 29th. Central Pacific Financial’s dividend payout ratio is presently 52.83%.
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Central Pacific Financial Profile
Central Pacific Financial Corp. operates as the holding company for Central Pacific Bank that provides commercial banking products and services to businesses, professionals, and individuals in Hawaii. The company operates in three segments: Banking Operations, Treasury, and All Others. It offers various deposit products and services, including personal and business checking and savings accounts, money market accounts, and time certificates of deposit.
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