Raymond James Financial Inc. Makes New $1.71 Million Investment in Central Pacific Financial Corp. (NYSE:CPF)

Raymond James Financial Inc. bought a new position in shares of Central Pacific Financial Corp. (NYSE:CPF) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 58,926 shares of the financial services provider’s stock, valued at approximately $1,712,000. Raymond James Financial Inc. owned approximately 0.22% of Central Pacific Financial as of its most recent SEC filing.

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

Analyst Ratings Changes

Separately, StockNews.com raised shares of Central Pacific Financial from a “sell” rating to a “hold” rating in a research note on Thursday, March 20th.

Central Pacific Financial Stock Up 0.4 %

Shares of NYSE:CPF opened at $27.04 on Tuesday. Central Pacific Financial Corp. has a 52-week low of $18.53 and a 52-week high of $33.25. The stock has a market cap of $733.08 million, a P/E ratio of 13.72 and a beta of 1.17. The business has a fifty day moving average of $28.36 and a two-hundred day moving average of $28.95. 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 (NYSE:CPF) last released its quarterly earnings data on Wednesday, January 29th. The financial services provider reported $0.70 earnings per share (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%. On average, research analysts expect that Central Pacific Financial Corp. will post 2.75 earnings per share for the current year.

Central Pacific Financial Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Friday, February 28th were paid a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a yield of 3.99%. The ex-dividend date was Friday, February 28th. This is a positive change from Central Pacific Financial’s previous quarterly dividend of $0.26. Central Pacific Financial’s dividend payout ratio (DPR) is 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.