JPMorgan Chase & Co. Has $17.13 Million Stake in Central Pacific Financial Corp. (NYSE:CPF)

JPMorgan Chase & Co. raised its position in shares of Central Pacific Financial Corp. (NYSE:CPF) by 36.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 589,609 shares of the financial services provider’s stock after acquiring an additional 158,111 shares during the quarter. JPMorgan Chase & Co. owned about 2.18% of Central Pacific Financial worth $17,128,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Jane Street Group LLC lifted its stake in Central Pacific Financial by 62.7% in the third quarter. Jane Street Group LLC now owns 40,463 shares of the financial services provider’s stock valued at $1,194,000 after buying an additional 15,599 shares during the period. XTX Topco Ltd acquired a new position in shares of Central Pacific Financial during the 3rd quarter valued at $422,000. Barclays PLC boosted its stake in Central Pacific Financial by 84.3% during the third quarter. Barclays PLC now owns 58,493 shares of the financial services provider’s stock worth $1,726,000 after acquiring an additional 26,755 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of 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 purchasing an additional 24,686 shares in the last quarter. Finally, Franklin Resources Inc. increased its position in Central Pacific Financial by 4.0% in the 3rd quarter. Franklin Resources Inc. now owns 56,148 shares of the financial services provider’s stock valued at $1,634,000 after buying an additional 2,151 shares in the last quarter. 88.42% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Central Pacific Financial Price Performance

CPF stock opened at $24.01 on Friday. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.85 and a current ratio of 0.85. The business has a 50-day simple moving average of $27.48 and a two-hundred day simple moving average of $28.69. The company has a market capitalization of $651.08 million, a P/E ratio of 12.19 and a beta of 0.98. Central Pacific Financial Corp. has a 52-week low of $18.60 and a 52-week high of $33.25.

Central Pacific Financial (NYSE:CPF) last posted its earnings results on Wednesday, January 29th. The financial services provider reported $0.70 earnings per share for the quarter, beating analysts’ consensus estimates of $0.61 by $0.09. Central Pacific Financial had a return on equity of 12.03% and a net margin of 15.49%. Research analysts expect that Central Pacific Financial Corp. will post 2.75 EPS for the current fiscal year.

Central Pacific Financial Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Friday, February 28th were given a dividend of $0.27 per share. The ex-dividend date was Friday, February 28th. This represents a $1.08 annualized dividend and a dividend yield of 4.50%. This is a boost from Central Pacific Financial’s previous quarterly dividend of $0.26. Central Pacific Financial’s dividend payout ratio (DPR) is currently 54.82%.

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.