California State Teachers Retirement System Decreases Stake in Central Pacific Financial Corp. (NYSE:CPF)

California State Teachers Retirement System lessened its stake in Central Pacific Financial Corp. (NYSE:CPF) by 7.6% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 38,250 shares of the financial services provider’s stock after selling 3,127 shares during the quarter. California State Teachers Retirement System owned 0.14% of Central Pacific Financial worth $997,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in CPF. State of Alaska Department of Revenue lifted its stake in Central Pacific Financial by 2.6% during the second quarter. State of Alaska Department of Revenue now owns 19,576 shares of the financial services provider’s stock worth $510,000 after purchasing an additional 494 shares during the last quarter. Nisa Investment Advisors LLC lifted its stake in Central Pacific Financial by 13.0% during the second quarter. Nisa Investment Advisors LLC now owns 4,970 shares of the financial services provider’s stock worth $130,000 after purchasing an additional 570 shares during the last quarter. Royal Bank of Canada increased its holdings in shares of Central Pacific Financial by 51.6% in the second quarter. Royal Bank of Canada now owns 1,892 shares of the financial services provider’s stock valued at $49,000 after purchasing an additional 644 shares during the period. Envestnet Asset Management Inc. increased its holdings in shares of Central Pacific Financial by 5.3% in the second quarter. Envestnet Asset Management Inc. now owns 13,522 shares of the financial services provider’s stock valued at $352,000 after purchasing an additional 676 shares during the period. Finally, FMR LLC grew its holdings in Central Pacific Financial by 0.6% during the second quarter. FMR LLC now owns 143,678 shares of the financial services provider’s stock worth $3,744,000 after acquiring an additional 831 shares during the period. Institutional investors and hedge funds own 88.36% of the company’s stock.

Shares of NYSE CPF opened at $28.53 on Thursday. The company has a market cap of $797.90 million, a P/E ratio of 11.55 and a beta of 1.30. Central Pacific Financial Corp. has a 12-month low of $16.35 and a 12-month high of $29.15. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.27. The business has a 50 day moving average of $26.19.

Central Pacific Financial (NYSE:CPF) last issued its quarterly earnings results on Wednesday, October 27th. The financial services provider reported $0.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.58 by $0.16. The company had revenue of $66.34 million for the quarter, compared to analysts’ expectations of $63.53 million. Central Pacific Financial had a return on equity of 12.69% and a net margin of 26.50%. During the same period last year, the firm earned $0.24 EPS. Equities research analysts forecast that Central Pacific Financial Corp. will post 2.67 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 15th. Shareholders of record on Tuesday, November 30th will be issued a dividend of $0.25 per share. This is a positive change from Central Pacific Financial’s previous quarterly dividend of $0.24. This represents a $1.00 annualized dividend and a yield of 3.51%. The ex-dividend date is Monday, November 29th. Central Pacific Financial’s dividend payout ratio (DPR) is 38.87%.

Separately, Zacks Investment Research upgraded Central Pacific Financial from a “hold” rating to a “strong-buy” rating and set a $32.00 price objective on the stock in a research report on Friday, October 29th.

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.

Featured Article: Moving Average (MA)

Institutional Ownership by Quarter for Central Pacific Financial (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.