Rhumbline Advisers Sells 4,671 Shares of Central Pacific Financial Corp. (NYSE:CPF)

Rhumbline Advisers cut its stake in shares of Central Pacific Financial Corp. (NYSE:CPF) by 4.7% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 95,414 shares of the financial services provider’s stock after selling 4,671 shares during the quarter. Rhumbline Advisers’ holdings in Central Pacific Financial were worth $2,486,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Barclays PLC grew its stake in shares of Central Pacific Financial by 41.2% during the 1st quarter. Barclays PLC now owns 52,716 shares of the financial services provider’s stock valued at $1,406,000 after acquiring an additional 15,394 shares during the period. Kennedy Capital Management Inc. grew its stake in shares of Central Pacific Financial by 18.4% during the 1st quarter. Kennedy Capital Management Inc. now owns 526,744 shares of the financial services provider’s stock valued at $14,054,000 after acquiring an additional 81,842 shares during the period. IndexIQ Advisors LLC bought a new position in shares of Central Pacific Financial during the 1st quarter valued at approximately $397,000. Baird Financial Group Inc. bought a new position in shares of Central Pacific Financial during the 1st quarter valued at approximately $308,000. Finally, XTX Topco Ltd bought a new position in shares of Central Pacific Financial during the 1st quarter valued at approximately $203,000. Institutional investors own 88.69% of the company’s stock.

Separately, Zacks Investment Research downgraded Central Pacific Financial from a “buy” rating to a “hold” rating in a research note on Wednesday, September 8th.

NYSE CPF opened at $23.46 on Tuesday. The stock’s 50 day moving average is $25.01 and its 200 day moving average is $26.30. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.27. Central Pacific Financial Corp. has a 12 month low of $12.80 and a 12 month high of $28.81. The stock has a market cap of $662.02 million, a PE ratio of 11.91 and a beta of 1.34.

Central Pacific Financial (NYSE:CPF) last posted its quarterly earnings results on Wednesday, July 28th. The financial services provider reported $0.66 EPS for the quarter, topping the Zacks’ consensus estimate of $0.57 by $0.09. The company had revenue of $62.59 million for the quarter, compared to analysts’ expectations of $61.46 million. Central Pacific Financial had a return on equity of 10.20% and a net margin of 21.60%. On average, analysts forecast that Central Pacific Financial Corp. will post 2.45 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 15th. Stockholders of record on Tuesday, August 31st were issued a dividend of $0.24 per share. The ex-dividend date of this dividend was Monday, August 30th. This represents a $0.96 annualized dividend and a dividend yield of 4.09%. Central Pacific Financial’s dividend payout ratio (DPR) is 72.73%.

Central Pacific Financial Profile

Central Pacific Financial Corp. is a bank holding company, which engages in the provision of commercial banking services through its wholly owned subsidiary, Central Pacific Bank. It operates through the following segments: Banking Operations, Treasury, and All Others. The Banking Operations segment includes construction and real estate development lending, commercial lending, residential mortgage lending and servicing, indirect auto lending, trust services, and retail brokerage services.

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Institutional Ownership by Quarter for Central Pacific Financial (NYSE:CPF)

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