Texas Permanent School Fund Corp Increases Stake in Central Pacific Financial Corp. (NYSE:CPF)

Texas Permanent School Fund Corp raised its position in Central Pacific Financial Corp. (NYSE:CPF) by 44.7% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 34,252 shares of the financial services provider’s stock after purchasing an additional 10,584 shares during the period. Texas Permanent School Fund Corp owned 0.13% of Central Pacific Financial worth $726,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Panagora Asset Management Inc. raised its holdings in shares of Central Pacific Financial by 0.6% during the 2nd quarter. Panagora Asset Management Inc. now owns 152,349 shares of the financial services provider’s stock worth $3,230,000 after acquiring an additional 949 shares during the period. Price T Rowe Associates Inc. MD raised its holdings in shares of Central Pacific Financial by 4.2% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 25,507 shares of the financial services provider’s stock worth $504,000 after acquiring an additional 1,020 shares during the period. CWM LLC raised its holdings in shares of Central Pacific Financial by 221.9% during the 2nd quarter. CWM LLC now owns 1,957 shares of the financial services provider’s stock worth $41,000 after acquiring an additional 1,349 shares during the period. Principal Financial Group Inc. raised its holdings in shares of Central Pacific Financial by 1.2% during the 1st quarter. Principal Financial Group Inc. now owns 156,553 shares of the financial services provider’s stock worth $3,092,000 after acquiring an additional 1,795 shares during the period. Finally, Allspring Global Investments Holdings LLC raised its holdings in shares of Central Pacific Financial by 660.9% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 2,488 shares of the financial services provider’s stock worth $49,000 after acquiring an additional 2,161 shares during the period. Hedge funds and other institutional investors own 88.42% of the company’s stock.

Central Pacific Financial Stock Down 2.4 %

NYSE CPF opened at $28.32 on Friday. Central Pacific Financial Corp. has a 52 week low of $14.69 and a 52 week high of $29.54. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.30. The business’s fifty day simple moving average is $26.16 and its 200-day simple moving average is $22.24. The firm has a market cap of $765.83 million, a PE ratio of 13.81 and a beta of 1.12.

Central Pacific Financial (NYSE:CPF) last posted its quarterly earnings results on Wednesday, July 31st. The financial services provider reported $0.58 EPS for the quarter, topping the consensus estimate 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 business had revenue of $87.96 million for the quarter, compared to analyst estimates of $61.74 million. During the same quarter in the previous year, the firm earned $0.53 EPS. As a group, equities analysts anticipate that Central Pacific Financial Corp. will post 2.2 earnings per share 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 dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a dividend yield of 3.67%. The ex-dividend date of this dividend was Friday, August 30th. Central Pacific Financial’s payout ratio is 50.73%.

Insider Buying and Selling

In related news, Director Agnes Catherine Ngo sold 3,333 shares of the firm’s stock in a transaction dated Friday, July 12th. The stock was sold at an average price of $22.67, for a total transaction of $75,559.11. Following the completion of the sale, the director now directly owns 75,357 shares of the company’s stock, valued at approximately $1,708,343.19. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 2.70% of the company’s stock.

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.