Boston Partners Has $4.99 Million Stake in Central Pacific Financial Corp. (NYSE:CPF)

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Boston Partners lowered its position in Central Pacific Financial Corp. (NYSE:CPF) by 68.5% during the third quarter, Holdings Channel reports. The firm owned 175,517 shares of the financial services provider’s stock after selling 381,941 shares during the period. Boston Partners’ holdings in Central Pacific Financial were worth $4,985,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of CPF. Fisher Asset Management LLC lifted its position in shares of Central Pacific Financial by 20.6% during the 2nd quarter. Fisher Asset Management LLC now owns 78,834 shares of the financial services provider’s stock valued at $2,362,000 after acquiring an additional 13,470 shares during the period. Advisory Services Network LLC bought a new stake in shares of Central Pacific Financial in the 2nd quarter worth $41,000. JPMorgan Chase & Co. grew its stake in shares of Central Pacific Financial by 1.0% in the 2nd quarter. JPMorgan Chase & Co. now owns 939,745 shares of the financial services provider’s stock worth $27,562,000 after acquiring an additional 9,088 shares in the last quarter. Granite Investment Partners LLC grew its stake in shares of Central Pacific Financial by 1.9% in the 2nd quarter. Granite Investment Partners LLC now owns 462,525 shares of the financial services provider’s stock worth $13,857,000 after acquiring an additional 8,610 shares in the last quarter. Finally, Acadian Asset Management LLC grew its stake in shares of Central Pacific Financial by 61.7% in the 2nd quarter. Acadian Asset Management LLC now owns 369,049 shares of the financial services provider’s stock worth $11,058,000 after acquiring an additional 140,862 shares in the last quarter. Hedge funds and other institutional investors own 92.83% of the company’s stock.

Several research firms recently weighed in on CPF. Compass Point set a $29.00 price target on shares of Central Pacific Financial and gave the company a “hold” rating in a research report on Thursday, September 12th. Zacks Investment Research lowered shares of Central Pacific Financial from a “hold” rating to a “sell” rating in a research report on Tuesday, November 5th. Finally, ValuEngine upgraded shares of Central Pacific Financial from a “sell” rating to a “hold” rating in a research report on Tuesday, October 29th.

In other Central Pacific Financial news, Director John C. Dean sold 6,700 shares of the company’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $29.95, for a total transaction of $200,665.00. Following the sale, the director now directly owns 3,398 shares of the company’s stock, valued at $101,770.10. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Arnold D. Martines sold 1,730 shares of the company’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $29.15, for a total transaction of $50,429.50. Following the sale, the executive vice president now directly owns 1,815 shares in the company, valued at $52,907.25. The disclosure for this sale can be found here. 3.80% of the stock is currently owned by corporate insiders.

CPF opened at $29.06 on Monday. The firm has a market cap of $828.04 million, a P/E ratio of 14.46 and a beta of 1.03. The firm has a 50-day moving average of $29.16 and a 200 day moving average of $28.85. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.85 and a current ratio of 0.85. Central Pacific Financial Corp. has a fifty-two week low of $23.23 and a fifty-two week high of $30.82.

Central Pacific Financial (NYSE:CPF) last posted its quarterly earnings results on Wednesday, October 23rd. The financial services provider reported $0.51 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.50 by $0.01. The company had revenue of $55.92 million during the quarter, compared to analyst estimates of $56.00 million. Central Pacific Financial had a net margin of 23.50% and a return on equity of 11.78%. Equities research analysts predict that Central Pacific Financial Corp. will post 2.02 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 29th will be given a dividend of $0.23 per share. The ex-dividend date of this dividend is Wednesday, November 27th. This represents a $0.92 annualized dividend and a yield of 3.17%. Central Pacific Financial’s payout ratio is currently 45.77%.

Central Pacific Financial Company Profile

Central Pacific Financial Corp. operates as the holding company for Central Pacific Bank that provides commercial banking products and services to businesses, professionals, and individuals in Hawaii. The company operates in three segments: Banking Operations, Treasury, and All Others. It offers various deposit products and services, including personal and business checking and savings accounts, money market accounts, and time certificates of deposit.

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Want to see what other hedge funds are holding CPF? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Central Pacific Financial Corp. (NYSE:CPF).

Institutional Ownership by Quarter for Central Pacific Financial (NYSE:CPF)

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