Central Pacific Financial Corp. (NYSE:CPF) Shares Sold by Royce & Associates LP

Royce & Associates LP lowered its stake in shares of Central Pacific Financial Corp. (NYSE:CPF) by 12.0% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 23,541 shares of the financial services provider’s stock after selling 3,197 shares during the period. Royce & Associates LP owned 0.09% of Central Pacific Financial worth $684,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Picton Mahoney Asset Management acquired a new position in Central Pacific Financial during the fourth quarter worth $30,000. SBI Securities Co. Ltd. acquired a new position in shares of Central Pacific Financial in the 4th quarter valued at $31,000. Quarry LP acquired a new position in shares of Central Pacific Financial in the 3rd quarter valued at $53,000. SG Americas Securities LLC lifted its stake in shares of Central Pacific Financial by 7.2% in the 4th quarter. SG Americas Securities LLC now owns 6,643 shares of the financial services provider’s stock valued at $193,000 after purchasing an additional 448 shares during the last quarter. Finally, Diversified Trust Co lifted its stake in shares of Central Pacific Financial by 9.8% in the 4th quarter. Diversified Trust Co now owns 8,787 shares of the financial services provider’s stock valued at $255,000 after purchasing an additional 783 shares during the last quarter. Institutional investors and hedge funds own 88.42% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, StockNews.com raised Central Pacific Financial from a “sell” rating to a “hold” rating in a research note on Thursday.

Central Pacific Financial Stock Performance

Shares of Central Pacific Financial stock opened at $26.86 on Friday. Central Pacific Financial Corp. has a 52 week low of $18.53 and a 52 week high of $33.25. The business’s fifty day simple moving average is $28.45 and its 200-day simple moving average is $28.91. The firm has a market cap of $728.44 million, a PE ratio of 13.64 and a beta of 1.17. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.35.

Central Pacific Financial (NYSE:CPF) last posted its quarterly earnings data on Wednesday, January 29th. The financial services provider reported $0.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.61 by $0.09. Central Pacific Financial had a return on equity of 12.03% and a net margin of 15.49%. Equities analysts forecast that Central Pacific Financial Corp. will post 2.75 earnings per share for the current year.

Central Pacific Financial Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Friday, February 28th were issued a dividend of $0.27 per share. This is an increase from Central Pacific Financial’s previous quarterly dividend of $0.26. The ex-dividend date was Friday, February 28th. This represents a $1.08 annualized dividend and a yield of 4.02%. Central Pacific Financial’s dividend payout ratio is 54.82%.

About Central Pacific Financial

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.