Martingale Asset Management L P lessened its holdings in Central Pacific Financial Corp. (NYSE:CPF) by 79.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 34,029 shares of the financial services provider’s stock after selling 129,507 shares during the quarter. Martingale Asset Management L P owned approximately 0.11% of Central Pacific Financial worth $1,016,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also modified their holdings of CPF. UBS Asset Management Americas Inc. lifted its holdings in shares of Central Pacific Financial by 71.0% during the fourth quarter. UBS Asset Management Americas Inc. now owns 18,386 shares of the financial services provider’s stock worth $548,000 after buying an additional 7,637 shares in the last quarter. Rhumbline Advisers lifted its holdings in shares of Central Pacific Financial by 14.7% during the fourth quarter. Rhumbline Advisers now owns 70,743 shares of the financial services provider’s stock worth $2,110,000 after buying an additional 9,058 shares in the last quarter. Arizona State Retirement System lifted its holdings in shares of Central Pacific Financial by 221.0% during the fourth quarter. Arizona State Retirement System now owns 50,635 shares of the financial services provider’s stock worth $1,510,000 after buying an additional 34,859 shares in the last quarter. Capital Fund Management S.A. acquired a new position in Central Pacific Financial in the fourth quarter valued at about $418,000. Finally, Pinebridge Investments L.P. raised its stake in Central Pacific Financial by 59.7% in the fourth quarter. Pinebridge Investments L.P. now owns 32,251 shares of the financial services provider’s stock valued at $962,000 after purchasing an additional 12,062 shares in the last quarter. 92.56% of the stock is currently owned by institutional investors.
Separately, Zacks Investment Research downgraded Central Pacific Financial from a “buy” rating to a “sell” rating in a research note on Tuesday, February 13th.
Central Pacific Financial Corp. (CPF) traded down $0.42 during trading hours on Wednesday, hitting $28.91. The stock had a trading volume of 199,920 shares, compared to its average volume of 152,344. Central Pacific Financial Corp. has a 52 week low of $27.34 and a 52 week high of $33.55. The company has a market capitalization of $879.74, a PE ratio of 18.52 and a beta of 1.15. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.77 and a current ratio of 0.77.
Central Pacific Financial (NYSE:CPF) last announced its earnings results on Wednesday, January 24th. The financial services provider reported $0.39 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.41 by ($0.02). Central Pacific Financial had a net margin of 18.81% and a return on equity of 9.56%. The company had revenue of $51.87 million during the quarter, compared to the consensus estimate of $52.60 million. During the same quarter in the previous year, the company earned $0.39 earnings per share. equities analysts forecast that Central Pacific Financial Corp. will post 2.04 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, March 15th. Stockholders of record on Wednesday, February 28th will be given a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a dividend yield of 2.63%. This is a positive change from Central Pacific Financial’s previous quarterly dividend of $0.18. The ex-dividend date is Tuesday, February 27th. Central Pacific Financial’s dividend payout ratio is presently 56.72%.
Central Pacific Financial announced that its board has authorized a stock repurchase plan on Wednesday, November 15th that allows the company to repurchase $50.00 million in outstanding shares. This repurchase authorization allows the financial services provider to reacquire shares of its stock through open market purchases. Shares repurchase plans are often an indication that the company’s leadership believes its stock is undervalued.
In other Central Pacific Financial news, Director Colbert M. Matsumoto acquired 1,000 shares of Central Pacific Financial stock in a transaction on Tuesday, February 6th. The stock was purchased at an average price of $28.61 per share, for a total transaction of $28,610.00. Following the purchase, the director now directly owns 2,375 shares of the company’s stock, valued at $67,948.75. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders purchased a total of 2,850 shares of company stock valued at $82,710 over the last three months. 4.10% of the stock is currently owned by insiders.
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About Central Pacific Financial
Central Pacific Financial Corp. is the bank holding company of Central Pacific Bank (the Bank). The Company’s segments include Banking Operations, Treasury and All Others. The Banking Operations segment includes construction and real estate development lending, commercial lending, residential mortgage lending, consumer lending, trust services, retail brokerage services and its retail branch offices, which provide a range of deposit and loan products, as well as various other banking services.
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