KLP Kapitalforvaltning AS Makes New Investment in Central Pacific Financial Corp. (NYSE:CPF)

KLP Kapitalforvaltning AS bought a new stake in Central Pacific Financial Corp. (NYSE:CPF) during the fourth quarter, HoldingsChannel reports. The institutional investor bought 5,800 shares of the financial services provider’s stock, valued at approximately $168,000.

Several other institutional investors have also recently added to or reduced their stakes in CPF. American Century Companies Inc. grew its position in shares of Central Pacific Financial by 13.2% in the fourth quarter. American Century Companies Inc. now owns 659,482 shares of the financial services provider’s stock valued at $19,158,000 after purchasing an additional 77,032 shares during the period. Geode Capital Management LLC grew its holdings in Central Pacific Financial by 4.0% during the 3rd quarter. Geode Capital Management LLC now owns 640,369 shares of the financial services provider’s stock valued at $18,901,000 after purchasing an additional 24,686 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in shares of Central Pacific Financial by 6.4% in the third quarter. JPMorgan Chase & Co. now owns 431,498 shares of the financial services provider’s stock worth $12,734,000 after acquiring an additional 26,139 shares in the last quarter. FMR LLC boosted its stake in shares of Central Pacific Financial by 24.4% during the 3rd quarter. FMR LLC now owns 295,359 shares of the financial services provider’s stock valued at $8,716,000 after buying an additional 58,009 shares during the last quarter. Finally, Principal Financial Group Inc. increased its position in shares of Central Pacific Financial by 4.1% in 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 last quarter. Institutional investors and hedge funds own 88.42% of the company’s stock.

Wall Street Analyst Weigh In

Separately, StockNews.com raised shares of Central Pacific Financial from a “sell” rating to a “hold” rating in a report on Thursday, March 20th.

Central Pacific Financial Trading Down 0.7 %

Shares of NYSE:CPF opened at $24.03 on Wednesday. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.35. The company’s 50-day moving average price is $27.89 and its 200 day moving average price is $28.80. The company has a market cap of $651.57 million, a PE ratio of 12.20 and a beta of 0.98. Central Pacific Financial Corp. has a fifty-two week low of $18.53 and a fifty-two week high of $33.25.

Central Pacific Financial (NYSE:CPF) last released its quarterly earnings results on Wednesday, January 29th. The financial services provider reported $0.70 EPS for the quarter, topping 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%. Sell-side analysts anticipate that Central Pacific Financial Corp. will post 2.75 earnings per share for the current year.

Central Pacific Financial Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Friday, February 28th were issued a $0.27 dividend. 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 4.49%. The ex-dividend date was Friday, February 28th. Central Pacific Financial’s payout ratio is presently 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.