Principal Financial Group Inc. Has $4.42 Million Stock Position in Central Pacific Financial Corp. (NYSE:CPF)

Principal Financial Group Inc. lifted its stake in Central Pacific Financial Corp. (NYSE:CPF) by 4.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 152,043 shares of the financial services provider’s stock after acquiring an additional 5,978 shares during the quarter. Principal Financial Group Inc. owned approximately 0.56% of Central Pacific Financial worth $4,417,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of CPF. Empowered Funds LLC increased its position in shares of Central Pacific Financial by 5.2% in the third quarter. Empowered Funds LLC now owns 86,251 shares of the financial services provider’s stock valued at $2,545,000 after acquiring an additional 4,288 shares during the last quarter. Quest Partners LLC increased its position in Central Pacific Financial by 144.4% during the third quarter. Quest Partners LLC now owns 32,083 shares of the financial services provider’s stock worth $947,000 after buying an additional 18,955 shares during the last quarter. Algert Global LLC increased its position in Central Pacific Financial by 1.4% during the third quarter. Algert Global LLC now owns 41,936 shares of the financial services provider’s stock worth $1,238,000 after buying an additional 570 shares during the last quarter. FMR LLC increased its position in Central Pacific Financial by 24.4% during the third quarter. FMR LLC now owns 295,359 shares of the financial services provider’s stock worth $8,716,000 after buying an additional 58,009 shares during the last quarter. Finally, Martingale Asset Management L P increased its position in Central Pacific Financial by 4.6% during the third quarter. Martingale Asset Management L P now owns 90,226 shares of the financial services provider’s stock worth $2,663,000 after buying an additional 3,945 shares during the last quarter. Institutional investors and hedge funds own 88.42% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, StockNews.com raised Central Pacific Financial from a “sell” rating to a “hold” rating in a research report on Thursday, February 13th.

Central Pacific Financial Price Performance

Shares of NYSE CPF opened at $28.92 on Tuesday. The business’s 50 day moving average price is $28.74 and its two-hundred day moving average price is $28.91. The company has a market cap of $782.75 million, a PE ratio of 14.68 and a beta of 1.19. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.35. Central Pacific Financial Corp. has a twelve month low of $18.35 and a twelve month high of $33.25.

Central Pacific Financial (NYSE:CPF) last issued its quarterly earnings data on Wednesday, January 29th. The financial services provider reported $0.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.61 by $0.09. Central Pacific Financial had a return on equity of 12.03% and a net margin of 15.49%. On average, analysts predict that Central Pacific Financial Corp. will post 2.75 EPS for the current year.

Central Pacific Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Friday, February 28th will be issued a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a dividend yield of 3.73%. The ex-dividend date is Friday, February 28th. This is a boost from Central Pacific Financial’s previous quarterly dividend of $0.26. Central Pacific Financial’s payout ratio is currently 54.82%.

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.