Algert Global LLC Reduces Position in Central Pacific Financial Corp. (NYSE:CPF)

Algert Global LLC lessened its holdings in Central Pacific Financial Corp. (NYSE:CPF - Free Report) by 32.4% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 28,337 shares of the financial services provider's stock after selling 13,599 shares during the period. Algert Global LLC owned approximately 0.10% of Central Pacific Financial worth $823,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in Central Pacific Financial by 1.0% during the fourth quarter. Vanguard Group Inc. now owns 2,124,330 shares of the financial services provider's stock worth $61,712,000 after acquiring an additional 20,196 shares during the last quarter. American Century Companies Inc. increased its position in shares of Central Pacific Financial by 13.2% during the 4th 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 last quarter. Geode Capital Management LLC raised its holdings in Central Pacific Financial by 0.6% during the 4th quarter. Geode Capital Management LLC now owns 644,390 shares of the financial services provider's stock valued at $18,724,000 after buying an additional 4,021 shares during the period. Renaissance Technologies LLC lifted its position in 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 worth $18,506,000 after buying an additional 66,053 shares during the last quarter. Finally, 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. 88.42% of the stock is currently owned by hedge funds and other institutional investors.

Central Pacific Financial Trading Down 0.7%

Shares of CPF traded down $0.20 during mid-day trading on Wednesday, reaching $27.47. 100,516 shares of the company's stock traded hands, compared to its average volume of 203,942. 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 stock's 50-day moving average is $26.13 and its two-hundred day moving average is $28.28. Central Pacific Financial Corp. has a 12 month low of $19.52 and a 12 month high of $33.25. The stock has a market cap of $741.03 million, a P/E ratio of 13.94 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 return on equity of 12.03% and a net margin of 15.49%. The company had revenue of $68.80 million for the quarter, compared to the consensus estimate of $68.93 million. During the same period last year, the business posted $0.48 EPS. Research analysts forecast that Central Pacific Financial Corp. will post 2.75 earnings per share for the current fiscal year.

Central Pacific Financial Dividend Announcement

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

Analyst Upgrades and Downgrades

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

Insider Buying and Selling

In related news, Director Agnes Catherine Ngo sold 3,333 shares of the stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $27.71, for a total transaction of $92,357.43. Following the completion of the sale, the director now owns 72,922 shares of the company's stock, valued at $2,020,668.62. This represents a 4.37% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 2.40% of the stock is currently owned by company insiders.

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.