Shell Asset Management Co. Sells 2,362 Shares of Central Pacific Financial Corp. (NYSE:CPF)

Shell Asset Management Co. decreased its holdings in shares of Central Pacific Financial Corp. (NYSE:CPFGet Rating) by 12.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 15,972 shares of the financial services provider’s stock after selling 2,362 shares during the quarter. Shell Asset Management Co. owned about 0.06% of Central Pacific Financial worth $446,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. Lazard Asset Management LLC bought a new stake in Central Pacific Financial during the 4th quarter valued at $27,000. Hillsdale Investment Management Inc. bought a new stake in Central Pacific Financial during the 1st quarter valued at $57,000. Nisa Investment Advisors LLC raised its holdings in Central Pacific Financial by 12.1% during the 4th quarter. Nisa Investment Advisors LLC now owns 5,570 shares of the financial services provider’s stock valued at $162,000 after acquiring an additional 600 shares during the period. Arizona State Retirement System bought a new stake in Central Pacific Financial during the 4th quarter valued at $214,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Central Pacific Financial by 172.1% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,783 shares of the financial services provider’s stock valued at $219,000 after acquiring an additional 4,923 shares during the period. Institutional investors own 89.53% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the stock. Raymond James reduced their price target on shares of Central Pacific Financial from $33.00 to $26.00 and set an “outperform” rating for the company in a research report on Thursday, July 7th. Compass Point reduced their price target on shares of Central Pacific Financial from $30.00 to $29.00 in a research report on Thursday, April 21st. Finally, StockNews.com lowered shares of Central Pacific Financial from a “buy” rating to a “hold” rating in a research report on Sunday, May 29th.

Central Pacific Financial Stock Up 0.9 %

CPF opened at $23.34 on Thursday. Central Pacific Financial Corp. has a one year low of $20.61 and a one year high of $30.97. The company has a fifty day moving average price of $22.54 and a 200-day moving average price of $25.68. The firm has a market capitalization of $643.06 million, a P/E ratio of 8.10 and a beta of 1.20. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.81 and a quick ratio of 0.81.

Central Pacific Financial (NYSE:CPFGet Rating) last announced its earnings results on Wednesday, July 27th. The financial services provider reported $0.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.55 by $0.09. Central Pacific Financial had a net margin of 29.75% and a return on equity of 15.60%. The company had revenue of $70.12 million during the quarter, compared to analyst estimates of $62.25 million. Equities research analysts expect that Central Pacific Financial Corp. will post 2.55 earnings per share for the current fiscal year.

Central Pacific Financial Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 15th. Investors of record on Wednesday, August 31st will be given a $0.26 dividend. The ex-dividend date is Tuesday, August 30th. This represents a $1.04 annualized dividend and a yield of 4.46%. Central Pacific Financial’s dividend payout ratio (DPR) is presently 36.11%.

Central Pacific Financial Profile

(Get Rating)

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 the United States. 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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Institutional Ownership by Quarter for Central Pacific Financial (NYSE:CPF)

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