BlackRock Inc. lessened its stake in Central Pacific Financial Corp. (NYSE:CPF) by 1.8% in the 4th quarter, Holdings Channel reports. The institutional investor owned 4,431,408 shares of the financial services provider’s stock after selling 81,038 shares during the quarter. BlackRock Inc. owned approximately 0.15% of Central Pacific Financial worth $132,188,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Teacher Retirement System of Texas acquired a new stake in Central Pacific Financial during the 4th quarter valued at $310,000. Capital Fund Management S.A. acquired a new stake in Central Pacific Financial during the 4th quarter valued at $418,000. BNP Paribas Arbitrage SA lifted its holdings in Central Pacific Financial by 114.6% during the 3rd quarter. BNP Paribas Arbitrage SA now owns 20,102 shares of the financial services provider’s stock valued at $647,000 after purchasing an additional 10,736 shares during the last quarter. Pinebridge Investments L.P. lifted its holdings in Central Pacific Financial by 59.7% during the 4th quarter. Pinebridge Investments L.P. now owns 32,251 shares of the financial services provider’s stock valued at $962,000 after purchasing an additional 12,062 shares during the last quarter. Finally, First Trust Advisors LP lifted its holdings in Central Pacific Financial by 20.0% during the 3rd quarter. First Trust Advisors LP now owns 36,309 shares of the financial services provider’s stock valued at $1,168,000 after purchasing an additional 6,063 shares during the last quarter. 92.56% of the stock is owned by institutional investors.
Shares of CPF stock opened at $27.47 on Friday. Central Pacific Financial Corp. has a twelve month low of $27.34 and a twelve month high of $33.55. The stock has a market capitalization of $871.37, a price-to-earnings ratio of 20.50 and a beta of 1.15. The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 0.19.
The firm also recently declared a quarterly dividend, which was paid on Thursday, March 15th. Shareholders of record on Wednesday, February 28th were issued a dividend of $0.19 per share. This is an increase from Central Pacific Financial’s previous quarterly dividend of $0.18. The ex-dividend date was Tuesday, February 27th. This represents a $0.76 annualized dividend and a yield of 2.77%. Central Pacific Financial’s dividend payout ratio (DPR) is currently 56.72%.
Separately, Zacks Investment Research downgraded Central Pacific Financial from a “hold” rating to a “sell” rating in a report on Monday, December 18th.
In other Central Pacific Financial news, Director Colbert M. Matsumoto purchased 1,000 shares of the business’s stock in a transaction on Tuesday, February 6th. The stock was acquired at an average price of $28.61 per share, with a total value of $28,610.00. Following the acquisition, the director now directly owns 2,375 shares of the company’s stock, valued at approximately $67,948.75. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders have acquired a total of 2,850 shares of company stock valued at $82,710 in the last ninety days. Insiders own 4.30% of the company’s stock.
Central Pacific Financial Company Profile
Central Pacific Financial Corp. is the bank holding company of Central Pacific Bank (the Bank). The Company’s segments include Banking Operations, Treasury and All Others. The Banking Operations segment includes construction and real estate development lending, commercial lending, residential mortgage lending, consumer lending, trust services, retail brokerage services and its retail branch offices, which provide a range of deposit and loan products, as well as various other banking services.
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