LSV Asset Management cut its holdings in Central Pacific Financial Corp. (NYSE:CPF) by 0.2% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 781,973 shares of the financial services provider’s stock after selling 1,700 shares during the quarter. LSV Asset Management’s holdings in Central Pacific Financial were worth $22,552,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also modified their holdings of the stock. Quantamental Technologies LLC purchased a new position in shares of Central Pacific Financial in the 4th quarter worth about $44,000. SG Americas Securities LLC bought a new stake in shares of Central Pacific Financial in the 4th quarter valued at about $162,000. BNP Paribas Arbitrage SA lifted its stake in shares of Central Pacific Financial by 907.8% in the 1st quarter. BNP Paribas Arbitrage SA now owns 6,591 shares of the financial services provider’s stock valued at $190,000 after acquiring an additional 5,937 shares during the last quarter. Metropolitan Life Insurance Co. NY lifted its stake in shares of Central Pacific Financial by 316.2% in the 4th quarter. Metropolitan Life Insurance Co. NY now owns 10,143 shares of the financial services provider’s stock valued at $247,000 after acquiring an additional 7,706 shares during the last quarter. Finally, GSA Capital Partners LLP bought a new stake in shares of Central Pacific Financial in the 4th quarter valued at about $251,000. Institutional investors and hedge funds own 95.18% of the company’s stock.
Separately, Zacks Investment Research raised Central Pacific Financial from a “sell” rating to a “buy” rating and set a $32.00 target price for the company in a research note on Friday, March 29th.
Central Pacific Financial (NYSE:CPF) last released its earnings results on Wednesday, April 24th. The financial services provider reported $0.55 earnings per share for the quarter, beating analysts’ consensus estimates of $0.52 by $0.03. Central Pacific Financial had a return on equity of 12.54% and a net margin of 24.93%. The company had revenue of $56.79 million during the quarter, compared to analyst estimates of $54.80 million. Equities research analysts forecast that Central Pacific Financial Corp. will post 2.1 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Monday, June 17th. Stockholders of record on Friday, May 31st will be paid a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 3.23%. The ex-dividend date is Thursday, May 30th. This is a positive change from Central Pacific Financial’s previous quarterly dividend of $0.21. Central Pacific Financial’s payout ratio is 41.79%.
In other news, Director John C. Dean sold 20,000 shares of the business’s stock in a transaction dated Wednesday, April 24th. The stock was sold at an average price of $30.42, for a total value of $608,400.00. Following the completion of the sale, the director now owns 3,398 shares of the company’s stock, valued at approximately $103,367.16. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director John C. Dean sold 10,000 shares of the business’s stock in a transaction dated Friday, April 12th. The shares were sold at an average price of $30.04, for a total value of $300,400.00. Following the completion of the sale, the director now directly owns 3,398 shares of the company’s stock, valued at approximately $102,075.92. The disclosure for this sale can be found here. In the last three months, insiders sold 35,000 shares of company stock valued at $1,052,550. 3.80% of the stock is currently owned by corporate insiders.
About Central Pacific Financial
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 Hawaii. The company operates in three segments: Banking Operations, Treasury, and All Others. It offers various deposit products and services, including personal and business checking and savings accounts, money market accounts, and time certificates of deposit.
See Also: Price-Sales Ratio
Want to see what other hedge funds are holding CPF? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Central Pacific Financial Corp. (NYSE:CPF).
Receive News & Ratings for Central Pacific Financial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Central Pacific Financial and related companies with MarketBeat.com's FREE daily email newsletter.