Central Pacific Financial Corp. (NYSE:CPF) Shares Sold by Algert Global LLC

Algert Global LLC reduced its position in Central Pacific Financial Corp. (NYSE:CPF - Free Report) by 32.4% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 28,337 shares of the financial services provider's stock after selling 13,599 shares during the period. Algert Global LLC owned 0.10% of Central Pacific Financial worth $823,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of CPF. ExodusPoint Capital Management LP lifted its stake in shares of Central Pacific Financial by 342.0% in the 4th quarter. ExodusPoint Capital Management LP now owns 277,664 shares of the financial services provider's stock valued at $8,066,000 after purchasing an additional 214,840 shares during the period. JPMorgan Chase & Co. boosted its stake in Central Pacific Financial by 36.6% during the fourth quarter. JPMorgan Chase & Co. now owns 589,609 shares of the financial services provider's stock worth $17,128,000 after buying an additional 158,111 shares during the period. North Reef Capital Management LP boosted its stake in Central Pacific Financial by 264.6% during the fourth quarter. North Reef Capital Management LP now owns 188,558 shares of the financial services provider's stock worth $5,478,000 after buying an additional 136,843 shares during the period. American Century Companies Inc. boosted its stake in shares of Central Pacific Financial by 13.2% in the fourth quarter. American Century Companies Inc. now owns 659,482 shares of the financial services provider's stock valued at $19,158,000 after purchasing an additional 77,032 shares during the period. Finally, Renaissance Technologies LLC boosted its stake in shares of Central Pacific Financial by 11.6% in the fourth quarter. Renaissance Technologies LLC now owns 637,053 shares of the financial services provider's stock valued at $18,506,000 after purchasing an additional 66,053 shares during the period. Hedge funds and other institutional investors own 88.42% of the company's stock.

Insider Buying and Selling

In related news, Director Agnes Catherine Ngo sold 3,333 shares of the business's stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $27.71, for a total value of $92,357.43. Following the completion of the transaction, the director now owns 72,922 shares of the company's stock, valued at approximately $2,020,668.62. The trade was a 4.37% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 2.40% of the company's stock.

Central Pacific Financial Price Performance

Shares of NYSE CPF traded down $0.09 during trading on Friday, hitting $27.52. 27,567 shares of the company were exchanged, compared to its average volume of 203,162. Central Pacific Financial Corp. has a 1 year low of $19.52 and a 1 year high of $33.25. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.85 and a quick ratio of 0.85. The firm's fifty day moving average price is $26.16 and its 200 day moving average price is $28.27. The company has a market cap of $742.24 million, a price-to-earnings ratio of 13.97 and a beta of 1.02.

Central Pacific Financial (NYSE:CPF - Get Free Report) last released its quarterly earnings data on Wednesday, April 23rd. The financial services provider reported $0.65 EPS for the quarter, topping the consensus estimate of $0.63 by $0.02. Central Pacific Financial had a net margin of 15.49% and a return on equity of 12.03%. The business had revenue of $68.80 million for the quarter, compared to analyst estimates of $68.93 million. During the same period in the previous year, the firm earned $0.48 EPS. On average, sell-side analysts expect that Central Pacific Financial Corp. will post 2.75 earnings per share for the current fiscal year.

Central Pacific Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Friday, May 30th will be given a $0.27 dividend. The ex-dividend date is Friday, May 30th. This represents a $1.08 annualized dividend and a dividend yield of 3.93%. Central Pacific Financial's dividend payout ratio is presently 50.47%.

Analyst Ratings Changes

Separately, StockNews.com raised shares of Central Pacific Financial from a "sell" rating to a "hold" rating in a report on Thursday, March 20th.

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.