Central Pacific Financial Corp. (NYSE:CPF) Shares Sold by Ameriprise Financial Inc.

Ameriprise Financial Inc. reduced its position in Central Pacific Financial Corp. (NYSE:CPF - Free Report) by 18.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 483,664 shares of the financial services provider's stock after selling 108,740 shares during the quarter. Ameriprise Financial Inc. owned 1.79% of Central Pacific Financial worth $14,050,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. ExodusPoint Capital Management LP grew its stake in 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 valued at $8,066,000 after purchasing an additional 214,840 shares during the last quarter. JPMorgan Chase & Co. grew its stake 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 grew its stake in Central Pacific Financial by 264.6% in the fourth quarter. North Reef Capital Management LP now owns 188,558 shares of the financial services provider's stock valued at $5,478,000 after purchasing an additional 136,843 shares during the last quarter. American Century Companies Inc. grew its stake 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 purchasing an additional 77,032 shares during the last quarter. Finally, Renaissance Technologies LLC grew its stake 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 valued at $18,506,000 after purchasing an additional 66,053 shares during the last quarter. 88.42% of the stock is currently owned by institutional investors.

Insider Transactions at Central Pacific Financial

In related news, Director Agnes Catherine Ngo sold 3,333 shares of the stock in a transaction on Monday, May 12th. The stock was 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 directly owns 72,922 shares of the company's stock, valued at approximately $2,020,668.62. This represents a 4.37% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 2.40% of the company's stock.

Central Pacific Financial Stock Performance

NYSE CPF traded down $0.27 during trading hours on Friday, reaching $26.44. The stock had a trading volume of 108,438 shares, compared to its average volume of 204,108. The stock has a fifty day moving average of $26.18 and a 200 day moving average of $28.25. The stock has a market cap of $713.25 million, a P/E ratio of 13.42 and a beta of 1.02. Central Pacific Financial Corp. has a 52-week low of $19.52 and a 52-week high of $33.25. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.85 and a current ratio of 0.85.

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 business had revenue of $68.80 million for the quarter, compared to analyst estimates of $68.93 million. During the same quarter in the prior year, the firm posted $0.48 EPS. Sell-side analysts predict that Central Pacific Financial Corp. will post 2.75 earnings per share for the current year.

Central Pacific Financial Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Friday, May 30th will be paid a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a dividend yield of 4.08%. 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, Wall Street Zen upgraded shares of Central Pacific Financial from a "sell" rating to a "hold" rating in a report on Thursday, March 20th.

Central Pacific Financial Company 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.