Wellington Management Group LLP Sells 52,400 Shares of Central Pacific Financial Corp. (NYSE:CPF)

Wellington Management Group LLP cut its holdings in shares of Central Pacific Financial Corp. (NYSE:CPF) by 9.7% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 488,900 shares of the financial services provider’s stock after selling 52,400 shares during the period. Wellington Management Group LLP owned approximately 1.81% of Central Pacific Financial worth $14,427,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the company. Algert Global LLC grew its position in Central Pacific Financial by 1.4% in the 3rd quarter. Algert Global LLC now owns 41,936 shares of the financial services provider’s stock worth $1,238,000 after purchasing an additional 570 shares in the last quarter. Panagora Asset Management Inc. grew its position in Central Pacific Financial by 0.6% in the 2nd quarter. Panagora Asset Management Inc. now owns 152,349 shares of the financial services provider’s stock worth $3,230,000 after purchasing an additional 949 shares in the last quarter. CWM LLC grew its position in Central Pacific Financial by 221.9% in the 2nd quarter. CWM LLC now owns 1,957 shares of the financial services provider’s stock worth $41,000 after purchasing an additional 1,349 shares in the last quarter. nVerses Capital LLC bought a new stake in Central Pacific Financial in the 3rd quarter worth about $50,000. Finally, Mirae Asset Global Investments Co. Ltd. grew its position in Central Pacific Financial by 12.0% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 16,490 shares of the financial services provider’s stock worth $458,000 after purchasing an additional 1,769 shares in the last quarter. 88.42% of the stock is owned by institutional investors.

Central Pacific Financial Stock Down 0.2 %

CPF opened at $30.91 on Friday. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.29. The stock has a market cap of $836.73 million, a price-to-earnings ratio of 14.72 and a beta of 1.18. Central Pacific Financial Corp. has a twelve month low of $18.00 and a twelve month high of $33.25. The company’s 50-day moving average price is $30.09 and its two-hundred day moving average price is $26.41.

Central Pacific Financial Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 29th will be paid a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a yield of 3.36%. The ex-dividend date of this dividend is Friday, November 29th. Central Pacific Financial’s payout ratio is 49.52%.

Wall Street Analysts Forecast Growth

Separately, StockNews.com downgraded shares of Central Pacific Financial from a “hold” rating to a “sell” rating in a research report on Tuesday, December 10th.

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.