Principal Financial Group Inc. Has $4.31 Million Stock Holdings in Central Pacific Financial Corp. (NYSE:CPF)

Principal Financial Group Inc. cut its position in shares of Central Pacific Financial Corp. (NYSE:CPF) by 3.9% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 146,065 shares of the financial services provider’s stock after selling 5,870 shares during the period. Principal Financial Group Inc.’s holdings in Central Pacific Financial were worth $4,310,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the business. nVerses Capital LLC acquired a new position in shares of Central Pacific Financial in the 3rd quarter worth approximately $50,000. CWM LLC increased its holdings in shares of Central Pacific Financial by 221.9% during the second quarter. CWM LLC now owns 1,957 shares of the financial services provider’s stock worth $41,000 after buying an additional 1,349 shares in the last quarter. USA Financial Formulas acquired a new position in shares of Central Pacific Financial in the 3rd quarter worth approximately $81,000. SG Americas Securities LLC bought a new stake in Central Pacific Financial during the 3rd quarter worth approximately $183,000. Finally, Cadinha & Co. LLC acquired a new stake in Central Pacific Financial during the 3rd quarter valued at $225,000. Institutional investors and hedge funds own 88.42% of the company’s stock.

Central Pacific Financial Stock Up 2.3 %

Shares of CPF opened at $31.37 on Friday. The business’s fifty day moving average price is $29.00 and its two-hundred day moving average price is $25.19. The firm has a market capitalization of $849.19 million, a price-to-earnings ratio of 14.94 and a beta of 1.14. Central Pacific Financial Corp. has a 52 week low of $16.95 and a 52 week high of $32.21. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.85 and a current ratio of 0.85.

Central Pacific Financial Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 29th will be issued a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 3.32%. The ex-dividend date of this dividend is Friday, November 29th. Central Pacific Financial’s dividend payout ratio is presently 49.52%.

Wall Street Analysts Forecast Growth

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

Central Pacific Financial 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.