Wellington Management Group LLP Reduces Holdings in Central Pacific Financial Corp. (NYSE:CPF)

Wellington Management Group LLP lessened its position in shares of Central Pacific Financial Corp. (NYSE:CPF - Free Report) by 14.1% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 419,900 shares of the financial services provider's stock after selling 69,000 shares during the quarter. Wellington Management Group LLP owned approximately 1.55% of Central Pacific Financial worth $12,198,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in CPF. SG Americas Securities LLC boosted its position in shares of Central Pacific Financial by 7.2% during the 4th quarter. SG Americas Securities LLC now owns 6,643 shares of the financial services provider's stock worth $193,000 after purchasing an additional 448 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Central Pacific Financial by 3.4% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,179 shares of the financial services provider's stock worth $441,000 after acquiring an additional 493 shares in the last quarter. Sterling Capital Management LLC boosted its holdings in Central Pacific Financial by 4.4% in the fourth quarter. Sterling Capital Management LLC now owns 17,969 shares of the financial services provider's stock worth $522,000 after acquiring an additional 762 shares in the last quarter. Hsbc Holdings PLC increased its holdings in shares of Central Pacific Financial by 3.7% during the fourth quarter. Hsbc Holdings PLC now owns 26,575 shares of the financial services provider's stock valued at $766,000 after acquiring an additional 940 shares in the last quarter. Finally, Picton Mahoney Asset Management acquired a new position in shares of Central Pacific Financial during the fourth quarter worth approximately $30,000. Institutional investors own 88.42% of the company's stock.

Analysts Set New Price Targets

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

Insider Activity at Central Pacific Financial

In other news, Director Agnes Catherine Ngo sold 3,333 shares of the firm's stock in a transaction 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 owns 72,922 shares in the company, valued at approximately $2,020,668.62. This trade represents a 4.37% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 2.40% of the stock is owned by corporate insiders.

Central Pacific Financial Stock Performance

CPF traded down $0.17 during trading hours on Thursday, hitting $26.27. The stock had a trading volume of 176,989 shares, compared to its average volume of 206,266. Central Pacific Financial Corp. has a 1 year low of $19.56 and a 1 year high of $33.25. The company's fifty day simple moving average is $26.07 and its 200 day simple moving average is $28.01. The stock has a market cap of $708.52 million, a PE ratio of 13.33 and a beta of 1.02. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.35.

Central Pacific Financial (NYSE:CPF - Get Free Report) last posted its earnings results on Wednesday, April 23rd. The financial services provider reported $0.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.63 by $0.02. The firm had revenue of $68.80 million for the quarter, compared to the consensus estimate of $68.93 million. Central Pacific Financial had a return on equity of 12.03% and a net margin of 15.49%. During the same quarter in the prior year, the business posted $0.48 earnings per share. Equities analysts anticipate 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 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 dividend on an annualized basis and a dividend yield of 4.11%. Central Pacific Financial's dividend payout ratio (DPR) is presently 50.47%.

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.