Central Pacific Financial Corp. (NYSE:CPF) Shares Bought by Balyasny Asset Management L.P.

Balyasny Asset Management L.P. grew its stake in shares of Central Pacific Financial Corp. (NYSE:CPF) by 48.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 90,985 shares of the financial services provider’s stock after acquiring an additional 29,885 shares during the period. Balyasny Asset Management L.P.’s holdings in Central Pacific Financial were worth $2,643,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. ExodusPoint Capital Management LP increased its stake in Central Pacific Financial by 342.0% in the 4th quarter. ExodusPoint Capital Management LP now owns 277,664 shares of the financial services provider’s stock valued at $8,066,000 after purchasing an additional 214,840 shares in the last quarter. JPMorgan Chase & Co. increased its position in shares of Central Pacific Financial by 36.6% in the fourth quarter. JPMorgan Chase & Co. now owns 589,609 shares of the financial services provider’s stock valued at $17,128,000 after buying an additional 158,111 shares in the last quarter. North Reef Capital Management LP raised its stake in shares of Central Pacific Financial by 264.6% during the 4th quarter. North Reef Capital Management LP now owns 188,558 shares of the financial services provider’s stock worth $5,478,000 after buying an additional 136,843 shares during the last quarter. American Century Companies Inc. raised its stake in shares of Central Pacific Financial by 13.2% during the 4th quarter. American Century Companies Inc. now owns 659,482 shares of the financial services provider’s stock worth $19,158,000 after buying an additional 77,032 shares during the last quarter. Finally, Renaissance Technologies LLC boosted its position in shares of Central Pacific Financial by 11.6% in the 4th quarter. Renaissance Technologies LLC now owns 637,053 shares of the financial services provider’s stock worth $18,506,000 after buying an additional 66,053 shares in the last quarter. Hedge funds and other institutional investors own 88.42% of the company’s stock.

Wall Street Analyst Weigh In

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

Central Pacific Financial Trading Down 0.3%

Shares of Central Pacific Financial stock opened at $26.72 on Monday. Central Pacific Financial Corp. has a 1 year low of $19.52 and a 1 year high of $33.25. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.85 and a quick ratio of 0.85. The business has a 50 day moving average price of $26.12 and a 200 day moving average price of $28.29. The company has a market capitalization of $720.80 million, a P/E ratio of 13.56 and a beta of 1.02.

Central Pacific Financial (NYSE:CPF) last released its quarterly earnings results on Wednesday, April 23rd. The financial services provider reported $0.65 earnings per share for the quarter, topping analysts’ consensus estimates of $0.63 by $0.02. Central Pacific Financial had a return on equity of 12.03% and a net margin of 15.49%. The company had revenue of $68.80 million during the quarter, compared to analysts’ expectations of $68.93 million. During the same period in the previous year, the firm posted $0.48 earnings per share. Sell-side analysts anticipate that Central Pacific Financial Corp. will post 2.75 EPS for the current fiscal year.

Central Pacific Financial Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Friday, May 30th will be paid a $0.27 dividend. This represents a $1.08 annualized dividend and a yield of 4.04%. The ex-dividend date of this dividend is Friday, May 30th. Central Pacific Financial’s payout ratio is 50.47%.

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.