JPMorgan Chase & Co. lessened its holdings in shares of Central Pacific Financial Corp. (NYSE:CPF) by 15.6% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 834,960 shares of the financial services provider’s stock after selling 154,840 shares during the period. JPMorgan Chase & Co.’s holdings in Central Pacific Financial were worth $21,759,000 at the end of the most recent quarter.
Several other large investors have also made changes to their positions in the business. Cramer Rosenthal Mcglynn LLC acquired a new stake in shares of Central Pacific Financial during the 1st quarter worth approximately $14,905,000. Bank of New York Mellon Corp boosted its position in shares of Central Pacific Financial by 18.8% during the 1st quarter. Bank of New York Mellon Corp now owns 1,335,632 shares of the financial services provider’s stock worth $35,636,000 after acquiring an additional 211,029 shares in the last quarter. Bank of Montreal Can boosted its position in shares of Central Pacific Financial by 35.5% during the 2nd quarter. Bank of Montreal Can now owns 508,764 shares of the financial services provider’s stock worth $13,701,000 after acquiring an additional 133,208 shares in the last quarter. Russell Investments Group Ltd. boosted its position in shares of Central Pacific Financial by 232.8% during the 1st quarter. Russell Investments Group Ltd. now owns 158,913 shares of the financial services provider’s stock worth $4,243,000 after acquiring an additional 111,166 shares in the last quarter. Finally, Kennedy Capital Management Inc. boosted its position in shares of Central Pacific Financial by 18.4% during the 1st quarter. Kennedy Capital Management Inc. now owns 526,744 shares of the financial services provider’s stock worth $14,054,000 after acquiring an additional 81,842 shares in the last quarter. Hedge funds and other institutional investors own 88.69% of the company’s stock.
Separately, Zacks Investment Research lowered shares of Central Pacific Financial from a “buy” rating to a “hold” rating in a research report on Wednesday, September 8th.
Central Pacific Financial (NYSE:CPF) last issued its earnings results on Wednesday, July 28th. The financial services provider reported $0.66 earnings per share for the quarter, beating analysts’ consensus estimates of $0.57 by $0.09. Central Pacific Financial had a net margin of 21.60% and a return on equity of 10.20%. The firm had revenue of $62.59 million for the quarter, compared to analyst estimates of $61.46 million. On average, analysts expect that Central Pacific Financial Corp. will post 2.45 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 15th. Stockholders of record on Tuesday, August 31st were paid a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 3.73%. The ex-dividend date was Monday, August 30th. Central Pacific Financial’s payout ratio is currently 72.73%.
About Central Pacific Financial
Central Pacific Financial Corp. is a bank holding company, which engages in the provision of commercial banking services through its wholly owned subsidiary, Central Pacific Bank. It operates through the following segments: Banking Operations, Treasury, and All Others. The Banking Operations segment includes construction and real estate development lending, commercial lending, residential mortgage lending and servicing, indirect auto lending, trust services, and retail brokerage services.
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