JPMorgan Chase & Co. Buys 26,139 Shares of Central Pacific Financial Corp. (NYSE:CPF)

JPMorgan Chase & Co. increased its stake in Central Pacific Financial Corp. (NYSE:CPF) by 6.4% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 431,498 shares of the financial services provider’s stock after purchasing an additional 26,139 shares during the period. JPMorgan Chase & Co. owned 1.59% of Central Pacific Financial worth $12,734,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of CPF. Basswood Capital Management L.L.C. acquired a new stake in shares of Central Pacific Financial in the 3rd quarter valued at $15,455,000. Assenagon Asset Management S.A. boosted its holdings in Central Pacific Financial by 143.4% in the third quarter. Assenagon Asset Management S.A. now owns 456,132 shares of the financial services provider’s stock valued at $13,460,000 after acquiring an additional 268,719 shares during the last quarter. Dimensional Fund Advisors LP increased its position in Central Pacific Financial by 5.9% in the second quarter. Dimensional Fund Advisors LP now owns 1,404,043 shares of the financial services provider’s stock worth $29,765,000 after purchasing an additional 77,868 shares during the period. American Century Companies Inc. raised its holdings in Central Pacific Financial by 17.8% during the 2nd quarter. American Century Companies Inc. now owns 511,590 shares of the financial services provider’s stock worth $10,846,000 after purchasing an additional 77,265 shares during the last quarter. Finally, FMR LLC raised its holdings in Central Pacific Financial by 24.4% during the 3rd quarter. FMR LLC now owns 295,359 shares of the financial services provider’s stock worth $8,716,000 after purchasing an additional 58,009 shares during the last quarter. Institutional investors and hedge funds own 88.42% of the company’s stock.

Analyst Ratings Changes

Separately, StockNews.com lowered shares of Central Pacific Financial from a “hold” rating to a “sell” rating in a research note on Tuesday, December 10th.

Central Pacific Financial Stock Performance

Shares of Central Pacific Financial stock opened at $26.49 on Friday. The firm has a fifty day moving average of $30.02 and a two-hundred day moving average of $27.56. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.85 and a current ratio of 0.85. The stock has a market capitalization of $716.95 million, a price-to-earnings ratio of 12.61 and a beta of 1.19. Central Pacific Financial Corp. has a 52 week low of $18.00 and a 52 week high of $33.25.

Central Pacific Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Friday, November 29th were paid a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a yield of 3.93%. The ex-dividend date of this dividend was Friday, November 29th. Central Pacific Financial’s payout ratio is 49.52%.

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.