State Street Corp Trims Stock Holdings in Central Pacific Financial Corp. (NYSE:CPF)

State Street Corp cut its stake in shares of Central Pacific Financial Corp. (NYSE:CPF) by 2.3% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 1,228,018 shares of the financial services provider’s stock after selling 28,850 shares during the period. State Street Corp’s holdings in Central Pacific Financial were worth $36,239,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the company. nVerses Capital LLC bought a new position in shares of Central Pacific Financial during the 3rd quarter valued at about $50,000. Quarry LP purchased a new stake in Central Pacific Financial in the third quarter worth approximately $53,000. USA Financial Formulas purchased a new position in shares of Central Pacific Financial during the third quarter worth approximately $81,000. CWM LLC boosted its stake in shares of Central Pacific Financial by 77.7% in the 3rd quarter. CWM LLC now owns 3,477 shares of the financial services provider’s stock valued at $103,000 after purchasing an additional 1,520 shares in the last quarter. Finally, SG Americas Securities LLC bought a new position in shares of Central Pacific Financial during the 3rd quarter valued at $183,000. 88.42% of the stock is currently owned by hedge funds and other institutional investors.

Central Pacific Financial Trading Up 0.1 %

Shares of CPF stock opened at $28.29 on Friday. Central Pacific Financial Corp. has a 1-year low of $18.00 and a 1-year high of $33.25. The company has a market cap of $765.67 million, a price-to-earnings ratio of 13.47 and a beta of 1.18. The stock has a 50 day simple moving average of $30.20 and a 200-day simple moving average of $26.62. The company has a debt-to-equity ratio of 0.29, a current ratio of 0.85 and a quick ratio of 0.85.

Central Pacific Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Friday, November 29th were issued a dividend of $0.26 per share. The ex-dividend date was Friday, November 29th. This represents a $1.04 annualized dividend and a yield of 3.68%. Central Pacific Financial’s dividend payout ratio (DPR) is 49.52%.

Analysts Set New Price Targets

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