Principal Financial Group Inc. Boosts Holdings in Central Pacific Financial Corp. (NYSE:CPF)

Principal Financial Group Inc. increased its stake in shares of Central Pacific Financial Corp. (NYSE:CPF) by 1.2% in the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 156,553 shares of the financial services provider’s stock after buying an additional 1,795 shares during the period. Principal Financial Group Inc. owned about 0.58% of Central Pacific Financial worth $3,092,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the stock. Tower Research Capital LLC TRC increased its stake in shares of Central Pacific Financial by 63.9% in the fourth quarter. Tower Research Capital LLC TRC now owns 2,327 shares of the financial services provider’s stock worth $46,000 after purchasing an additional 907 shares in the last quarter. Allspring Global Investments Holdings LLC increased its stake in shares of Central Pacific Financial by 660.9% in the first quarter. Allspring Global Investments Holdings LLC now owns 2,488 shares of the financial services provider’s stock worth $49,000 after purchasing an additional 2,161 shares in the last quarter. Natixis Advisors L.P. purchased a new position in shares of Central Pacific Financial in the fourth quarter worth about $222,000. Quadrature Capital Ltd purchased a new position in shares of Central Pacific Financial in the fourth quarter worth about $235,000. Finally, Louisiana State Employees Retirement System purchased a new position in shares of Central Pacific Financial in the fourth quarter worth about $266,000. Hedge funds and other institutional investors own 88.42% of the company’s stock.

Insider Buying and Selling at Central Pacific Financial

In other Central Pacific Financial news, Director Agnes Catherine Ngo sold 3,333 shares of Central Pacific Financial stock in a transaction that occurred on Friday, April 12th. The shares were sold at an average price of $19.00, for a total transaction of $63,327.00. Following the completion of the sale, the director now directly owns 85,356 shares in the company, valued at $1,621,764. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 2.30% of the stock is currently owned by company insiders.

Central Pacific Financial Stock Performance

Shares of CPF traded down $0.34 during trading hours on Friday, hitting $20.66. The company’s stock had a trading volume of 47,525 shares, compared to its average volume of 168,796. The business has a 50 day simple moving average of $20.61 and a two-hundred day simple moving average of $19.72. The company has a market cap of $558.65 million, a price-to-earnings ratio of 10.24 and a beta of 1.13. Central Pacific Financial Corp. has a 52-week low of $14.69 and a 52-week high of $22.00. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.86 and a quick ratio of 0.85.

Central Pacific Financial (NYSE:CPF) last issued its quarterly earnings data on Wednesday, April 24th. The financial services provider reported $0.48 EPS for the quarter, beating the consensus estimate of $0.45 by $0.03. The company had revenue of $61.43 million during the quarter, compared to analysts’ expectations of $60.78 million. Central Pacific Financial had a net margin of 16.44% and a return on equity of 11.34%. On average, equities analysts expect that Central Pacific Financial Corp. will post 2 earnings per share for the current fiscal year.

Central Pacific Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 17th. Shareholders of record on Friday, May 31st were given a dividend of $0.26 per share. The ex-dividend date of this dividend was Friday, May 31st. This represents a $1.04 annualized dividend and a yield of 5.03%. Central Pacific Financial’s payout ratio is presently 50.73%.

Central Pacific Financial Company Profile

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.