Cornercap Investment Counsel Inc. Lowers Holdings in Central Pacific Financial Corp. (NYSE:CPF)

Cornercap Investment Counsel Inc. reduced its stake in shares of Central Pacific Financial Corp. (NYSE:CPF) by 51.7% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 13,550 shares of the financial services provider’s stock after selling 14,529 shares during the period. Cornercap Investment Counsel Inc.’s holdings in Central Pacific Financial were worth $400,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. nVerses Capital LLC purchased a new stake in shares of Central Pacific Financial during the 3rd quarter worth $50,000. CWM LLC raised its stake in shares of Central Pacific Financial by 221.9% during the 2nd quarter. CWM LLC now owns 1,957 shares of the financial services provider’s stock worth $41,000 after buying an additional 1,349 shares during the last quarter. Allspring Global Investments Holdings LLC raised its stake in shares of Central Pacific Financial by 660.9% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 2,488 shares of the financial services provider’s stock worth $49,000 after buying an additional 2,161 shares during the last quarter. USA Financial Formulas acquired a new position in shares of Central Pacific Financial during the 3rd quarter worth $81,000. Finally, SG Americas Securities LLC acquired a new position in shares of Central Pacific Financial during the 3rd quarter worth $183,000. 88.42% of the stock is currently owned by hedge funds and other institutional investors.

Central Pacific Financial Trading Up 0.4 %

Shares of CPF stock opened at $31.03 on Friday. The firm has a 50-day moving average price of $28.65 and a 200 day moving average price of $24.94. Central Pacific Financial Corp. has a twelve month low of $16.95 and a twelve month high of $32.21. The company has a market capitalization of $839.83 million, a price-to-earnings ratio of 14.78 and a beta of 1.14. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.29.

Central Pacific Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 29th will be paid a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a dividend yield of 3.35%. The ex-dividend date is Friday, November 29th. Central Pacific Financial’s dividend payout ratio is currently 49.52%.

Analyst Ratings Changes

Separately, StockNews.com raised shares of Central Pacific Financial from a “sell” rating to a “hold” rating in a research note on Tuesday, November 12th.

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.