TD Asset Management Inc. Takes $1.47 Million Position in Central Pacific Financial Corp. (CPF)
TD Asset Management Inc. acquired a new stake in Central Pacific Financial Corp. (NYSE:CPF) during the second quarter, Holdings Channel reports. The institutional investor acquired 51,200 shares of the financial services provider’s stock, valued at approximately $1,467,000.
Several other hedge funds have also recently added to or reduced their stakes in the business. Northern Trust Corp increased its position in shares of Central Pacific Financial by 0.7% in the first quarter. Northern Trust Corp now owns 465,355 shares of the financial services provider’s stock valued at $13,244,000 after acquiring an additional 3,160 shares during the period. Xact Kapitalforvaltning AB increased its position in shares of Central Pacific Financial by 61.7% in the first quarter. Xact Kapitalforvaltning AB now owns 11,795 shares of the financial services provider’s stock valued at $336,000 after acquiring an additional 4,500 shares during the period. California Public Employees Retirement System boosted its stake in shares of Central Pacific Financial by 4.1% during the 1st quarter. California Public Employees Retirement System now owns 161,954 shares of the financial services provider’s stock valued at $4,609,000 after purchasing an additional 6,351 shares in the last quarter. Piedmont Investment Advisors LLC bought a new stake in shares of Central Pacific Financial during the 2nd quarter valued at about $197,000. Finally, Aperio Group LLC boosted its stake in shares of Central Pacific Financial by 42.3% during the 2nd quarter. Aperio Group LLC now owns 24,731 shares of the financial services provider’s stock valued at $709,000 after purchasing an additional 7,354 shares in the last quarter. Hedge funds and other institutional investors own 94.37% of the company’s stock.
In other Central Pacific Financial news, Director Christine H. H. Camp acquired 1,800 shares of the company’s stock in a transaction that occurred on Tuesday, June 19th. The shares were acquired at an average price of $29.80 per share, with a total value of $53,640.00. Following the completion of the purchase, the director now directly owns 6,112 shares of the company’s stock, valued at approximately $182,137.60. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Arnold D. Martines sold 1,038 shares of the business’s stock in a transaction dated Wednesday, June 13th. The stock was sold at an average price of $29.44, for a total transaction of $30,558.72. Following the sale, the insider now directly owns 1,104 shares in the company, valued at approximately $32,501.76. The disclosure for this sale can be found here. Insiders own 4.30% of the company’s stock.
Central Pacific Financial (NYSE:CPF) last announced its earnings results on Wednesday, July 25th. The financial services provider reported $0.48 earnings per share for the quarter, beating analysts’ consensus estimates of $0.47 by $0.01. The firm had revenue of $52.30 million for the quarter, compared to analyst estimates of $52.45 million. Central Pacific Financial had a net margin of 19.71% and a return on equity of 10.54%. research analysts expect that Central Pacific Financial Corp. will post 1.94 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Monday, September 17th. Stockholders of record on Friday, August 31st will be paid a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.93%. The ex-dividend date is Thursday, August 30th. Central Pacific Financial’s payout ratio is 52.83%.
CPF has been the topic of a number of research reports. Zacks Investment Research raised shares of Central Pacific Financial from a “sell” rating to a “hold” rating in a research note on Monday, June 11th. ValuEngine lowered shares of Central Pacific Financial from a “hold” rating to a “sell” rating in a research note on Monday, June 11th.
Central Pacific Financial Profile
Central Pacific Financial Corp. operates as the holding company for Central Pacific Bank that provides commercial banking products and services to businesses, professionals, and individuals in Hawaii. The company operates in three segments: Banking Operations, Treasury, and All Others. It offers various deposit products and services, including personal and business checking and savings accounts, money market accounts, and time certificates of deposit.
See Also: Outstanding Shares
Want to see what other hedge funds are holding CPF? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Central Pacific Financial Corp. (NYSE:CPF).
Receive News & Ratings for Central Pacific Financial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Central Pacific Financial and related companies with MarketBeat.com's FREE daily email newsletter.