Central Pacific Financial Corp. (NYSE:CPF) Shares Sold by LSV Asset Management

LSV Asset Management lessened its stake in shares of Central Pacific Financial Corp. (NYSE:CPF) by 7.6% in the 4th quarter, Holdings Channel reports. The firm owned 667,530 shares of the financial services provider’s stock after selling 54,600 shares during the period. LSV Asset Management’s holdings in Central Pacific Financial were worth $19,392,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Vanguard Group Inc. raised its holdings in shares of Central Pacific Financial by 1.0% during the fourth quarter. Vanguard Group Inc. now owns 2,124,330 shares of the financial services provider’s stock valued at $61,712,000 after acquiring an additional 20,196 shares during the last quarter. American Century Companies Inc. increased its position in shares of Central Pacific Financial by 13.2% during the fourth quarter. American Century Companies Inc. now owns 659,482 shares of the financial services provider’s stock worth $19,158,000 after purchasing an additional 77,032 shares in the last quarter. Geode Capital Management LLC raised its stake in Central Pacific Financial by 0.6% in the 4th quarter. Geode Capital Management LLC now owns 644,390 shares of the financial services provider’s stock valued at $18,724,000 after purchasing an additional 4,021 shares during the last quarter. Renaissance Technologies LLC lifted its holdings in 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 valued at $18,506,000 after purchasing an additional 66,053 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its stake in Central Pacific Financial by 36.6% during the 4th quarter. JPMorgan Chase & Co. now owns 589,609 shares of the financial services provider’s stock worth $17,128,000 after purchasing an additional 158,111 shares during the last quarter. 88.42% of the stock is owned by hedge funds and other institutional investors.

Central Pacific Financial Trading Down 0.5 %

CPF opened at $24.01 on Friday. The firm has a market capitalization of $651.08 million, a price-to-earnings ratio of 12.19 and a beta of 0.98. The company’s 50 day simple moving average is $27.48 and its two-hundred day simple moving average is $28.69. Central Pacific Financial Corp. has a 1-year low of $18.60 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.

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

Central Pacific Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Friday, February 28th were given a dividend of $0.27 per share. This is a boost from Central Pacific Financial’s previous quarterly dividend of $0.26. This represents a $1.08 annualized dividend and a yield of 4.50%. The ex-dividend date was Friday, February 28th. Central Pacific Financial’s dividend payout ratio (DPR) is presently 54.82%.

Analyst Upgrades and Downgrades

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 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.