Renaissance Technologies LLC Raises Holdings in Central Pacific Financial Corp. (NYSE:CPF)

Renaissance Technologies LLC raised its position in Central Pacific Financial Corp. (NYSE:CPF) by 3.6% during the second quarter, HoldingsChannel reports. The firm owned 550,400 shares of the financial services provider’s stock after purchasing an additional 19,247 shares during the period. Renaissance Technologies LLC’s holdings in Central Pacific Financial were worth $11,668,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Boston Partners acquired a new position in Central Pacific Financial during the first quarter worth about $740,000. State Board of Administration of Florida Retirement System purchased a new position in Central Pacific Financial in the 1st quarter worth approximately $409,000. Acadian Asset Management LLC lifted its stake in Central Pacific Financial by 359.7% in the 1st quarter. Acadian Asset Management LLC now owns 462,925 shares of the financial services provider’s stock worth $9,140,000 after purchasing an additional 362,232 shares in the last quarter. LSV Asset Management boosted its holdings in shares of Central Pacific Financial by 9.5% during the 1st quarter. LSV Asset Management now owns 599,368 shares of the financial services provider’s stock worth $11,838,000 after purchasing an additional 51,967 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in shares of Central Pacific Financial by 2.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 842,611 shares of the financial services provider’s stock valued at $16,583,000 after purchasing an additional 20,929 shares in the last quarter. Institutional investors and hedge funds own 88.42% of the company’s stock.

Central Pacific Financial Stock Performance

Shares of Central Pacific Financial stock opened at $28.32 on Monday. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.86 and a current ratio of 0.86. The business’s 50 day moving average price is $26.16 and its 200 day moving average price is $22.26. The company has a market cap of $765.83 million, a price-to-earnings ratio of 13.81 and a beta of 1.12. Central Pacific Financial Corp. has a one year low of $14.69 and a one year high of $29.54.

Central Pacific Financial (NYSE:CPF) last released its quarterly earnings data on Wednesday, July 31st. The financial services provider reported $0.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.48 by $0.10. The firm had revenue of $87.96 million during the quarter, compared to analysts’ expectations of $61.74 million. Central Pacific Financial had a net margin of 16.44% and a return on equity of 11.36%. During the same period last year, the business earned $0.53 earnings per share. On average, research analysts predict that Central Pacific Financial Corp. will post 2.2 EPS for the current year.

Central Pacific Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Friday, August 30th were issued a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a yield of 3.67%. The ex-dividend date of this dividend was Friday, August 30th. Central Pacific Financial’s dividend payout ratio is presently 50.73%.

Insider Activity at Central Pacific Financial

In other Central Pacific Financial news, Director Agnes Catherine Ngo sold 3,333 shares of Central Pacific Financial stock in a transaction on Friday, July 12th. The stock was sold at an average price of $22.67, for a total value of $75,559.11. Following the sale, the director now owns 75,357 shares in the company, valued at $1,708,343.19. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 2.70% of the stock is currently owned by insiders.

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.