Central Pacific Financial Corp. (NYSE:CPF) Shares Acquired by American Century Companies Inc.

American Century Companies Inc. lifted its position in Central Pacific Financial Corp. (NYSE:CPF) by 13.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 659,482 shares of the financial services provider’s stock after purchasing an additional 77,032 shares during the quarter. American Century Companies Inc. owned approximately 2.44% of Central Pacific Financial worth $19,158,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Geode Capital Management LLC grew its position in shares of Central Pacific Financial by 4.0% during the third quarter. Geode Capital Management LLC now owns 640,369 shares of the financial services provider’s stock worth $18,901,000 after acquiring an additional 24,686 shares during the last quarter. Basswood Capital Management L.L.C. acquired a new stake in Central Pacific Financial during the 3rd quarter worth $15,455,000. JPMorgan Chase & Co. grew its position in Central Pacific Financial by 6.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 431,498 shares of the financial services provider’s stock worth $12,734,000 after purchasing an additional 26,139 shares during the last quarter. FMR LLC increased its stake in Central Pacific Financial by 24.4% in the third quarter. FMR LLC now owns 295,359 shares of the financial services provider’s stock valued at $8,716,000 after purchasing an additional 58,009 shares during the period. Finally, Principal Financial Group Inc. raised its holdings in shares of Central Pacific Financial by 4.1% in the fourth quarter. Principal Financial Group Inc. now owns 152,043 shares of the financial services provider’s stock valued at $4,417,000 after buying an additional 5,978 shares during the last quarter. Hedge funds and other institutional investors own 88.42% of the company’s stock.

Central Pacific Financial Price Performance

Central Pacific Financial stock opened at $26.95 on Monday. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.85 and a quick ratio of 0.85. The business has a 50 day simple moving average of $28.39 and a 200-day simple moving average of $28.95. Central Pacific Financial Corp. has a 12 month low of $18.53 and a 12 month high of $33.25. The stock has a market capitalization of $730.75 million, a PE ratio of 13.68 and a beta of 1.17.

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

Central Pacific Financial Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Friday, February 28th were paid a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a dividend yield of 4.01%. This is an increase from Central Pacific Financial’s previous quarterly dividend of $0.26. The ex-dividend date of this dividend was Friday, February 28th. Central Pacific Financial’s dividend payout ratio is 54.82%.

Wall Street Analysts Forecast Growth

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 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.