American Century Companies Inc. Buys 29,026 Shares of Central Pacific Financial Corp. (NYSE:CPF)

American Century Companies Inc. raised its stake in shares of Central Pacific Financial Corp. (NYSE:CPF) by 10.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 306,425 shares of the financial services provider’s stock after purchasing an additional 29,026 shares during the quarter. American Century Companies Inc. owned 1.13% of Central Pacific Financial worth $5,111,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also bought and sold shares of the company. Victory Capital Management Inc. lifted its position in Central Pacific Financial by 5.2% during the third quarter. Victory Capital Management Inc. now owns 33,200 shares of the financial services provider’s stock valued at $554,000 after purchasing an additional 1,650 shares during the last quarter. AQR Capital Management LLC lifted its position in Central Pacific Financial by 0.3% during the third quarter. AQR Capital Management LLC now owns 281,271 shares of the financial services provider’s stock valued at $4,692,000 after purchasing an additional 798 shares during the last quarter. North Reef Capital Management LP bought a new stake in Central Pacific Financial during the third quarter valued at approximately $465,000. Assenagon Asset Management S.A. lifted its position in Central Pacific Financial by 240.4% during the third quarter. Assenagon Asset Management S.A. now owns 265,006 shares of the financial services provider’s stock valued at $4,420,000 after purchasing an additional 187,164 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of Central Pacific Financial by 5.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 821,682 shares of the financial services provider’s stock worth $13,706,000 after acquiring an additional 39,130 shares during the last quarter. 88.42% of the stock is currently owned by institutional investors.

Central Pacific Financial Trading Up 2.8 %

Shares of CPF opened at $19.73 on Thursday. The firm has a market cap of $533.70 million, a price-to-earnings ratio of 9.09 and a beta of 1.14. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.86 and a current ratio of 0.86. Central Pacific Financial Corp. has a fifty-two week low of $13.22 and a fifty-two week high of $22.00. The firm has a 50 day moving average price of $19.11 and a 200-day moving average price of $18.13.

Central Pacific Financial (NYSE:CPF) last issued its earnings results on Wednesday, January 31st. The financial services provider reported $0.55 EPS for the quarter, topping the consensus estimate of $0.48 by $0.07. Central Pacific Financial had a net margin of 17.82% and a return on equity of 12.23%. The company had revenue of $89.29 million for the quarter, compared to the consensus estimate of $61.18 million. During the same period in the previous year, the firm earned $0.74 earnings per share. As a group, equities research analysts forecast that Central Pacific Financial Corp. will post 1.98 earnings per share for the current year.

Central Pacific Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Thursday, February 29th were paid a $0.26 dividend. This represents a $1.04 annualized dividend and a dividend yield of 5.27%. The ex-dividend date was Wednesday, February 28th. Central Pacific Financial’s payout ratio is 47.93%.

Wall Street Analyst Weigh In

Separately, Piper Sandler boosted their price objective on shares of Central Pacific Financial from $22.00 to $24.00 and gave the stock an “overweight” rating in a report on Thursday, February 1st.

Insider Buying and Selling

In other Central Pacific Financial news, Director Agnes Catherine Ngo sold 3,333 shares of the business’s stock in a transaction on Friday, January 12th. The shares were sold at an average price of $19.16, for a total transaction of $63,860.28. Following the transaction, the director now directly owns 95,355 shares of the company’s stock, valued at approximately $1,827,001.80. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders have sold a total of 9,999 shares of company stock valued at $193,081 over the last three months. 2.30% of the stock is owned by company insiders.

Central Pacific Financial 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.