BNP Paribas Arbitrage SA Cuts Stake in Central Pacific Financial Inc. (CPF)

BNP Paribas Arbitrage SA cut its stake in shares of Central Pacific Financial Inc. (NYSE:CPF) by 51.2% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,721 shares of the financial services provider’s stock after selling 4,946 shares during the period. BNP Paribas Arbitrage SA’s holdings in Central Pacific Financial were worth $119,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of CPF. AJO LP acquired a new position in Central Pacific Financial during the second quarter worth about $11,989,000. Emerald Acquisition Ltd. acquired a new position in Central Pacific Financial during the second quarter worth about $6,474,000. BlackRock Fund Advisors increased its position in Central Pacific Financial by 12.8% in the second quarter. BlackRock Fund Advisors now owns 1,960,861 shares of the financial services provider’s stock worth $46,276,000 after buying an additional 222,844 shares during the last quarter. Thrivent Financial for Lutherans increased its position in Central Pacific Financial by 1,228.5% in the second quarter. Thrivent Financial for Lutherans now owns 191,170 shares of the financial services provider’s stock worth $4,512,000 after buying an additional 176,780 shares during the last quarter. Finally, Vanguard Group Inc. increased its position in Central Pacific Financial by 5.3% in the second quarter. Vanguard Group Inc. now owns 2,883,025 shares of the financial services provider’s stock worth $68,040,000 after buying an additional 146,149 shares during the last quarter. Institutional investors and hedge funds own 93.49% of the company’s stock.

Institutional Ownership by Quarter for Central Pacific Financial (NYSE:CPF)

Central Pacific Financial Inc. (NYSE:CPF) opened at 24.62 on Friday. The stock has a 50 day moving average of $25.30 and a 200 day moving average of $23.85. Central Pacific Financial Inc. has a 12-month low of $18.47 and a 12-month high of $26.09. The stock has a market cap of $762.92 million, a P/E ratio of 16.85 and a beta of 1.18.

Central Pacific Financial (NYSE:CPF) last announced its earnings results on Thursday, July 28th. The financial services provider reported $0.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.35 by $0.04. Central Pacific Financial had a return on equity of 9.18% and a net margin of 22.77%. During the same quarter last year, the business posted $0.39 EPS. On average, equities research analysts anticipate that Central Pacific Financial Inc. will post $1.48 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 15th. Stockholders of record on Wednesday, August 31st were given a dividend of $0.16 per share. This is a positive change from Central Pacific Financial’s previous quarterly dividend of $0.14. The ex-dividend date of this dividend was Monday, August 29th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 2.60%. Central Pacific Financial’s dividend payout ratio (DPR) is 43.84%.

Several equities analysts have weighed in on CPF shares. Zacks Investment Research downgraded shares of Central Pacific Financial from a “buy” rating to a “hold” rating in a report on Monday, October 3rd. Compass Point started coverage on shares of Central Pacific Financial in a report on Thursday, August 11th. They set a “neutral” rating and a $26.00 price target on the stock. Raymond James Financial Inc. lifted their price target on shares of Central Pacific Financial from $25.00 to $26.00 and gave the company an “outperform” rating in a report on Tuesday, August 2nd. Finally, Piper Jaffray Cos. started coverage on shares of Central Pacific Financial in a report on Friday, July 8th. They set a “neutral” rating and a $25.00 price target on the stock. Four investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $25.40.

In other news, insider Lance A. Mizumoto sold 19,950 shares of the stock in a transaction that occurred on Friday, August 26th. The stock was sold at an average price of $25.25, for a total transaction of $503,737.50. Following the transaction, the insider now owns 69,427 shares in the company, valued at approximately $1,753,031.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Wayne K. Kamitaki bought 3,500 shares of the firm’s stock in a transaction dated Wednesday, August 3rd. The shares were acquired at an average price of $24.54 per share, for a total transaction of $85,890.00. Following the transaction, the director now directly owns 289 shares in the company, valued at $7,092.06. The disclosure for this purchase can be found here. Insiders own 4.20% of the company’s stock.

Central Pacific Financial Company Profile

Central Pacific Financial Corp. serves as the bank holding company for its bank subsidiary, Central Pacific Bank (the bank). The Company’s segments include Banking Operations, Treasury and All Others. The Banking Operations segment includes construction and commercial real estate lending, commercial lending, residential mortgage lending, consumer lending, trust services, retail brokerage services, and the Company’s retail branch offices, which provide a range of deposit and loan products, as well as various other banking services.

5 Day Chart for NYSE:CPF

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