Renaissance Technologies LLC Grows Position in Central Pacific Financial Corp. (NYSE:CPF)

Renaissance Technologies LLC grew its stake in Central Pacific Financial Corp. (NYSE:CPF) by 11.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 637,053 shares of the financial services provider’s stock after buying an additional 66,053 shares during the quarter. Renaissance Technologies LLC owned approximately 2.35% of Central Pacific Financial worth $18,506,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in CPF. JPMorgan Chase & Co. grew its stake in shares of Central Pacific Financial by 6.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 431,498 shares of the financial services provider’s stock valued at $12,734,000 after acquiring an additional 26,139 shares during the period. Geode Capital Management LLC boosted its position in shares of Central Pacific Financial by 4.0% in the third 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 during the period. Barclays PLC increased its stake in shares of Central Pacific Financial by 84.3% in the third quarter. Barclays PLC now owns 58,493 shares of the financial services provider’s stock worth $1,726,000 after purchasing an additional 26,755 shares in the last quarter. Y Intercept Hong Kong Ltd bought a new stake in shares of Central Pacific Financial during the 4th quarter valued at $413,000. Finally, Raymond James Financial Inc. purchased a new position in shares of Central Pacific Financial during the 4th quarter valued at $1,712,000. Institutional investors own 88.42% of the company’s stock.

Analysts Set New Price Targets

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

Central Pacific Financial Stock Performance

NYSE:CPF opened at $24.01 on Monday. The stock has a 50-day moving average price of $27.48 and a 200 day moving average price of $28.69. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.35. Central Pacific Financial Corp. has a 12-month low of $18.60 and a 12-month high of $33.25. The stock has a market capitalization of $651.08 million, a P/E ratio of 12.19 and a beta of 0.98.

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

Central Pacific Financial Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Friday, February 28th were issued a $0.27 dividend. This is an increase from Central Pacific Financial’s previous quarterly dividend of $0.26. This represents a $1.08 dividend on an annualized basis and a yield of 4.50%. The ex-dividend date was Friday, February 28th. Central Pacific Financial’s payout ratio is currently 54.82%.

Central Pacific Financial 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.