Millennium Management LLC Reduces Position in Central Pacific Financial Corp. (NYSE:CPF)

Millennium Management LLC trimmed its position in Central Pacific Financial Corp. (NYSE:CPF - Free Report) by 30.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 54,968 shares of the financial services provider's stock after selling 24,125 shares during the quarter. Millennium Management LLC owned about 0.20% of Central Pacific Financial worth $1,597,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of CPF. Picton Mahoney Asset Management acquired a new position in Central Pacific Financial in the 4th quarter valued at about $30,000. SBI Securities Co. Ltd. acquired a new position in Central Pacific Financial in the 4th quarter valued at about $31,000. Quantbot Technologies LP purchased a new stake in shares of Central Pacific Financial in the 4th quarter valued at approximately $55,000. KLP Kapitalforvaltning AS purchased a new stake in shares of Central Pacific Financial in the 4th quarter valued at approximately $168,000. Finally, SG Americas Securities LLC raised its stake in shares of Central Pacific Financial by 7.2% in the 4th quarter. SG Americas Securities LLC now owns 6,643 shares of the financial services provider's stock valued at $193,000 after acquiring an additional 448 shares during the period. 88.42% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director Agnes Catherine Ngo sold 3,333 shares of the company's 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 sale, the director now directly owns 72,922 shares of the company's stock, valued at $2,020,668.62. This represents a 4.37% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Paul K. Yonamine sold 2,765 shares of the company's stock in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $26.31, for a total transaction of $72,747.15. Following the sale, the director now directly owns 19,711 shares in the company, valued at approximately $518,596.41. The trade was a 12.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.40% of the stock is owned by insiders.

Central Pacific Financial Trading Up 1.4%

Shares of Central Pacific Financial stock traded up $0.38 on Friday, reaching $26.68. The company had a trading volume of 220,382 shares, compared to its average volume of 206,266. The firm's 50 day moving average price is $26.05 and its two-hundred day moving average price is $27.95. The firm has a market cap of $719.75 million, a PE ratio of 13.54 and a beta of 1.04. Central Pacific Financial Corp. has a 52-week low of $19.56 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 results on Wednesday, April 23rd. The financial services provider reported $0.65 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.63 by $0.02. The business had revenue of $68.80 million for the quarter, compared to the consensus estimate of $68.93 million. Central Pacific Financial had a net margin of 15.49% and a return on equity of 12.03%. During the same period in the previous year, the firm earned $0.48 EPS. Sell-side analysts predict 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 announced a quarterly dividend, which will be paid on Monday, June 16th. Investors 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 yield of 4.05%. The ex-dividend date is Friday, May 30th. Central Pacific Financial's payout ratio is currently 50.47%.

Analysts Set New Price Targets

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

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.