AQR Capital Management LLC Cuts Stock Position in Central Pacific Financial Corp. (NYSE:CPF)

AQR Capital Management LLC reduced its position in shares of Central Pacific Financial Corp. (NYSE:CPF - Free Report) by 29.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 167,078 shares of the financial services provider's stock after selling 69,766 shares during the quarter. AQR Capital Management LLC owned 0.62% of Central Pacific Financial worth $4,854,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in CPF. ExodusPoint Capital Management LP increased its position in shares of Central Pacific Financial by 342.0% in the fourth quarter. ExodusPoint Capital Management LP now owns 277,664 shares of the financial services provider's stock worth $8,066,000 after purchasing an additional 214,840 shares during the period. JPMorgan Chase & Co. raised its position in Central Pacific Financial by 36.6% in the fourth quarter. JPMorgan Chase & Co. now owns 589,609 shares of the financial services provider's stock valued at $17,128,000 after purchasing an additional 158,111 shares during the last quarter. North Reef Capital Management LP lifted its holdings in shares of 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 purchasing an additional 136,843 shares during the period. American Century Companies Inc. boosted its holdings in 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 acquiring an additional 77,032 shares during the last quarter. Finally, Renaissance Technologies LLC raised its position in shares of Central Pacific Financial by 11.6% in the 4th quarter. Renaissance Technologies LLC now owns 637,053 shares of the financial services provider's stock worth $18,506,000 after acquiring an additional 66,053 shares in the last quarter. Institutional investors and hedge funds own 88.42% of the company's stock.

Insider Activity at Central Pacific Financial

In related news, Director Agnes Catherine Ngo sold 3,333 shares of Central Pacific Financial stock in a transaction on Monday, May 12th. The shares were sold at an average price of $27.71, for a total value of $92,357.43. Following the sale, the director now owns 72,922 shares in the company, valued at $2,020,668.62. The trade was 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 owned by insiders.

Wall Street Analyst Weigh In

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.

Central Pacific Financial Price Performance

NYSE:CPF traded down $0.18 during trading hours on Wednesday, hitting $27.49. The stock had a trading volume of 17,883 shares, compared to its average volume of 180,030. The company has a 50 day simple moving average of $26.13 and a two-hundred day simple moving average of $28.28. The firm has a market capitalization of $741.57 million, a price-to-earnings ratio of 13.95 and a beta of 1.02. 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 one year low of $19.52 and a one year high of $33.25.

Central Pacific Financial (NYSE:CPF - Get Free Report) last posted its earnings results 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 business had revenue of $68.80 million during the quarter, compared to analysts' expectations of $68.93 million. During the same period in the previous year, the business earned $0.48 earnings per share. 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 company also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Friday, May 30th will be paid a $0.27 dividend. This represents a $1.08 annualized dividend and a yield of 3.93%. The ex-dividend date is Friday, May 30th. Central Pacific Financial's dividend payout ratio is currently 50.47%.

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.