Franklin Resources Inc. Acquires 2,151 Shares of Central Pacific Financial Corp. (NYSE:CPF)

Franklin Resources Inc. boosted its holdings in Central Pacific Financial Corp. (NYSE:CPF) by 4.0% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 56,148 shares of the financial services provider’s stock after acquiring an additional 2,151 shares during the quarter. Franklin Resources Inc. owned 0.21% of Central Pacific Financial worth $1,634,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. nVerses Capital LLC bought a new position in Central Pacific Financial in the 3rd quarter valued at about $50,000. Quarry LP bought a new position in Central Pacific Financial in the 3rd quarter valued at about $53,000. USA Financial Formulas bought a new position in Central Pacific Financial in the 3rd quarter valued at about $81,000. CWM LLC lifted its position in 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 acquiring an additional 1,520 shares in the last quarter. Finally, SG Americas Securities LLC bought a new position in Central Pacific Financial in the 3rd quarter valued at about $183,000. Institutional investors own 88.42% of the company’s stock.

Central Pacific Financial Price Performance

Central Pacific Financial stock opened at $28.78 on Friday. Central Pacific Financial Corp. has a 52 week low of $18.00 and a 52 week high of $33.25. The company’s 50 day moving average price is $30.12 and its two-hundred day moving average price is $26.92. 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 $778.93 million, a P/E ratio of 13.70 and a beta of 1.18.

Central Pacific Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Friday, November 29th were given a dividend of $0.26 per share. The ex-dividend date of this dividend was Friday, November 29th. This represents a $1.04 annualized dividend and a dividend yield of 3.61%. Central Pacific Financial’s dividend payout ratio is currently 49.52%.

Analysts Set New Price Targets

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

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.