Arrowstreet Capital Limited Partnership Sells 39,280 Shares of Central Pacific Financial Corp. (NYSE:CPF)

Arrowstreet Capital Limited Partnership cut its position in Central Pacific Financial Corp. (NYSE:CPF) by 8.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 412,542 shares of the financial services provider’s stock after selling 39,280 shares during the quarter. Arrowstreet Capital Limited Partnership owned approximately 1.52% of Central Pacific Financial worth $11,984,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of CPF. FMR LLC lifted its position in shares of Central Pacific Financial by 24.4% during the 3rd quarter. FMR LLC now owns 295,359 shares of the financial services provider’s stock worth $8,716,000 after purchasing an additional 58,009 shares during the last quarter. Centiva Capital LP bought a new stake in shares of Central Pacific Financial in the third quarter valued at approximately $355,000. Quarry LP acquired a new stake in shares of Central Pacific Financial in the third quarter worth $53,000. Jane Street Group LLC increased its position in Central Pacific Financial by 62.7% during the third quarter. Jane Street Group LLC now owns 40,463 shares of the financial services provider’s stock worth $1,194,000 after acquiring an additional 15,599 shares during the period. Finally, Zacks Investment Management acquired a new position in Central Pacific Financial during the 3rd quarter valued at $573,000. Institutional investors own 88.42% of the company’s stock.

Central Pacific Financial Trading Down 4.1 %

Shares of CPF opened at $23.91 on Friday. The stock’s 50-day moving average price is $28.15 and its 200 day moving average price is $28.89. 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 Corp. has a 12-month low of $18.53 and a 12-month high of $33.25. The firm has a market capitalization of $648.21 million, a price-to-earnings ratio of 12.13 and a beta of 1.17.

Central Pacific Financial (NYSE:CPF) last issued its earnings results on Wednesday, January 29th. The financial services provider reported $0.70 EPS for the quarter, beating analysts’ consensus estimates of $0.61 by $0.09. Central Pacific Financial had a return on equity of 12.03% and a net margin of 15.49%. As a group, research analysts predict that Central Pacific Financial Corp. will post 2.75 earnings per share for the current year.

Central Pacific Financial Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Friday, February 28th were paid a $0.27 dividend. The ex-dividend date was Friday, February 28th. This represents a $1.08 dividend on an annualized basis and a yield of 4.52%. This is a boost from Central Pacific Financial’s previous quarterly dividend of $0.26. Central Pacific Financial’s payout ratio is presently 54.82%.

Analyst Upgrades and Downgrades

Separately, StockNews.com 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.