Truist Financial Corp Purchases 2,110 Shares of Central Pacific Financial Corp. (NYSE:CPF)

Truist Financial Corp grew its position in shares of Central Pacific Financial Corp. (NYSE:CPF) by 14.1% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 17,113 shares of the financial services provider’s stock after purchasing an additional 2,110 shares during the period. Truist Financial Corp owned about 0.06% of Central Pacific Financial worth $363,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of CPF. CWM LLC increased its holdings in shares of Central Pacific Financial by 221.9% in the second quarter. CWM LLC now owns 1,957 shares of the financial services provider’s stock worth $41,000 after buying an additional 1,349 shares during the period. Allspring Global Investments Holdings LLC increased its holdings in shares of Central Pacific Financial by 660.9% in the first quarter. Allspring Global Investments Holdings LLC now owns 2,488 shares of the financial services provider’s stock worth $49,000 after buying an additional 2,161 shares during the period. Central Pacific Bank Trust Division purchased a new position in shares of Central Pacific Financial in the first quarter worth about $134,000. EMC Capital Management purchased a new position in shares of Central Pacific Financial in the first quarter worth about $228,000. Finally, Quadrature Capital Ltd purchased a new position in shares of Central Pacific Financial in the fourth quarter worth about $235,000. Hedge funds and other institutional investors own 88.42% of the company’s stock.

Central Pacific Financial Stock Up 0.1 %

Shares of NYSE:CPF opened at $29.74 on Friday. Central Pacific Financial Corp. has a 1 year low of $14.69 and a 1 year high of $30.30. The company has a market cap of $804.23 million, a PE ratio of 14.51 and a beta of 1.13. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.86 and a quick ratio of 0.86. The stock’s 50-day moving average is $27.55 and its 200 day moving average is $23.46.

Central Pacific Financial (NYSE:CPF) last posted its earnings results on Wednesday, July 31st. The financial services provider reported $0.58 earnings per share for the quarter, topping analysts’ consensus estimates of $0.48 by $0.10. Central Pacific Financial had a return on equity of 11.36% and a net margin of 16.44%. The firm had revenue of $87.96 million for the quarter, compared to the consensus estimate of $61.74 million. During the same quarter in the prior year, the business earned $0.53 EPS. Sell-side analysts anticipate 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 given a $0.26 dividend. The ex-dividend date of this dividend was Friday, August 30th. This represents a $1.04 annualized dividend and a yield of 3.50%. Central Pacific Financial’s dividend payout ratio (DPR) is presently 50.73%.

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.