Central Pacific Financial Corp. (NYSE:CPF) Shares Sold by Hancock Whitney Corp

Hancock Whitney Corp lessened its holdings in Central Pacific Financial Corp. (NYSE:CPF) by 13.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 30,041 shares of the financial services provider’s stock after selling 4,592 shares during the quarter. Hancock Whitney Corp owned approximately 0.11% of Central Pacific Financial worth $873,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. ExodusPoint Capital Management LP boosted its holdings in shares of Central Pacific Financial by 342.0% in the 4th quarter. ExodusPoint Capital Management LP now owns 277,664 shares of the financial services provider’s stock valued at $8,066,000 after buying an additional 214,840 shares during the period. JPMorgan Chase & Co. lifted its holdings in Central Pacific Financial by 36.6% in the fourth quarter. JPMorgan Chase & Co. now owns 589,609 shares of the financial services provider’s stock worth $17,128,000 after acquiring an additional 158,111 shares during the last quarter. American Century Companies Inc. boosted its stake in 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 acquiring an additional 77,032 shares during the period. Renaissance Technologies LLC grew its holdings in shares of Central Pacific Financial by 11.6% during the fourth quarter. Renaissance Technologies LLC now owns 637,053 shares of the financial services provider’s stock valued at $18,506,000 after purchasing an additional 66,053 shares during the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in shares of Central Pacific Financial during the 4th quarter worth approximately $1,712,000. Institutional investors own 88.42% of the company’s stock.

Analysts Set New Price Targets

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

Central Pacific Financial Stock Down 0.3 %

Central Pacific Financial stock opened at $25.72 on Friday. The firm has a market capitalization of $697.42 million, a P/E ratio of 13.06 and a beta of 0.98. The company has a 50-day simple moving average of $26.60 and a 200-day simple moving average of $28.49. Central Pacific Financial Corp. has a one year low of $19.52 and a one year high of $33.25. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.85 and a current ratio of 0.85.

Central Pacific Financial (NYSE:CPF) last announced its quarterly earnings results on Wednesday, April 23rd. The financial services provider reported $0.65 EPS 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 quarter last year, the business earned $0.48 earnings per share. As a group, equities analysts expect that Central Pacific Financial Corp. will post 2.75 earnings per share for the current year.

Central Pacific Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Friday, May 30th will be paid a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a yield of 4.20%. The ex-dividend date of this dividend is Friday, May 30th. Central Pacific Financial’s payout ratio is currently 54.82%.

About Central Pacific Financial

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.