Globeflex Capital L P Reduces Holdings in Central Pacific Financial Corp. (NYSE:CPF)

Globeflex Capital L P trimmed its stake in Central Pacific Financial Corp. (NYSE:CPF) by 10.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 23,571 shares of the financial services provider’s stock after selling 2,710 shares during the period. Globeflex Capital L P’s holdings in Central Pacific Financial were worth $685,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Picton Mahoney Asset Management bought a new stake in Central Pacific Financial during the 4th quarter valued at about $30,000. SBI Securities Co. Ltd. bought a new stake in Central Pacific Financial during the 4th quarter valued at about $31,000. Quarry LP bought a new stake in shares of Central Pacific Financial in the third quarter worth approximately $53,000. SG Americas Securities LLC grew its stake in shares of Central Pacific Financial by 7.2% in the fourth quarter. SG Americas Securities LLC now owns 6,643 shares of the financial services provider’s stock worth $193,000 after acquiring an additional 448 shares during the period. Finally, Diversified Trust Co boosted its holdings in shares of Central Pacific Financial by 9.8% in the fourth quarter. Diversified Trust Co now owns 8,787 shares of the financial services provider’s stock worth $255,000 after buying an additional 783 shares during the last quarter. 88.42% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Separately, StockNews.com downgraded shares of Central Pacific Financial from a “hold” rating to a “sell” rating in a report on Wednesday.

Central Pacific Financial Trading Up 2.8 %

Central Pacific Financial stock opened at $27.14 on Friday. The stock has a market cap of $734.44 million, a P/E ratio of 13.77 and a beta of 1.17. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.85 and a quick ratio of 0.85. Central Pacific Financial Corp. has a 1 year low of $18.35 and a 1 year high of $33.25. The firm’s 50 day moving average price is $28.48 and its 200-day moving average price is $28.94.

Central Pacific Financial (NYSE:CPF) last announced its quarterly earnings results on Wednesday, January 29th. The financial services provider reported $0.70 earnings per share for the quarter, topping the consensus estimate of $0.61 by $0.09. Central Pacific Financial had a net margin of 15.49% and a return on equity of 12.03%. On average, equities analysts predict that Central Pacific Financial Corp. will post 2.75 earnings per share for the current fiscal year.

Central Pacific Financial Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Friday, February 28th will be paid a dividend of $0.27 per share. This is a positive change from Central Pacific Financial’s previous quarterly dividend of $0.26. This represents a $1.08 dividend on an annualized basis and a dividend yield of 3.98%. The ex-dividend date of this dividend is Friday, February 28th. Central Pacific Financial’s payout ratio is currently 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.