Truist Financial Corp Boosts Stock Position in Central Pacific Financial Corp. (NYSE:CPF)

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Truist Financial Corp raised its position in shares of Central Pacific Financial Corp. (NYSE:CPFGet Rating) by 119.0% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 21,028 shares of the financial services provider’s stock after purchasing an additional 11,428 shares during the quarter. Truist Financial Corp’s holdings in Central Pacific Financial were worth $587,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in CPF. JPMorgan Chase & Co. boosted its stake in shares of Central Pacific Financial by 6.6% in the fourth quarter. JPMorgan Chase & Co. now owns 809,976 shares of the financial services provider’s stock worth $22,816,000 after buying an additional 50,355 shares during the last quarter. Granite Investment Partners LLC boosted its stake in shares of Central Pacific Financial by 4.4% in the fourth quarter. Granite Investment Partners LLC now owns 783,569 shares of the financial services provider’s stock worth $22,073,000 after buying an additional 32,970 shares during the last quarter. Northern Trust Corp boosted its stake in shares of Central Pacific Financial by 1.4% in the fourth quarter. Northern Trust Corp now owns 668,591 shares of the financial services provider’s stock worth $18,833,000 after buying an additional 9,286 shares during the last quarter. Kennedy Capital Management Inc. boosted its stake in shares of Central Pacific Financial by 9.2% in the fourth quarter. Kennedy Capital Management Inc. now owns 471,967 shares of the financial services provider’s stock worth $13,295,000 after buying an additional 39,890 shares during the last quarter. Finally, Assenagon Asset Management S.A. purchased a new stake in shares of Central Pacific Financial in the fourth quarter worth about $5,852,000. Hedge funds and other institutional investors own 89.53% of the company’s stock.

Analysts Set New Price Targets

CPF has been the topic of a number of recent research reports. Compass Point lowered their target price on Central Pacific Financial from $30.00 to $29.00 in a research note on Thursday, April 21st. Raymond James lowered their target price on Central Pacific Financial from $33.00 to $26.00 and set an “outperform” rating on the stock in a research note on Thursday, July 7th. Finally, StockNews.com cut Central Pacific Financial from a “buy” rating to a “hold” rating in a report on Sunday, May 29th.

Central Pacific Financial Stock Performance

NYSE CPF opened at $23.03 on Tuesday. The stock has a market capitalization of $634.52 million, a price-to-earnings ratio of 7.93 and a beta of 1.20. Central Pacific Financial Corp. has a twelve month low of $20.61 and a twelve month high of $30.97. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.30. The stock has a 50-day moving average of $22.58 and a 200 day moving average of $26.00.

Central Pacific Financial Company Profile

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Central Pacific Financial Corp. operates as the holding company for Central Pacific Bank that provides commercial banking products and services to businesses, professionals, and individuals in the United States. It offers various deposit products and services, including personal and business checking and savings accounts, money market accounts, and time certificates of deposit.

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