Central Pacific Financial Corp. (NYSE:CPF) Stake Lowered by Hotchkis & Wiley Capital Management LLC

Hotchkis & Wiley Capital Management LLC cut its stake in shares of Central Pacific Financial Corp. (NYSE:CPF) by 15.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 394,400 shares of the financial services provider’s stock after selling 69,790 shares during the quarter. Hotchkis & Wiley Capital Management LLC owned approximately 1.46% of Central Pacific Financial worth $11,639,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in CPF. CWM LLC lifted its position in Central Pacific Financial by 221.9% in the second quarter. CWM LLC now owns 1,957 shares of the financial services provider’s stock worth $41,000 after purchasing an additional 1,349 shares during the period. nVerses Capital LLC acquired a new stake in Central Pacific Financial during the 3rd quarter valued at $50,000. USA Financial Formulas acquired a new stake in Central Pacific Financial during the 3rd quarter valued at $81,000. SG Americas Securities LLC acquired a new position in shares of Central Pacific Financial in the third quarter worth $183,000. Finally, Cadinha & Co. LLC acquired a new position in shares of Central Pacific Financial in the third quarter worth $225,000. 88.42% of the stock is currently owned by institutional investors and hedge funds.

Central Pacific Financial Stock Performance

NYSE:CPF opened at $31.20 on Wednesday. Central Pacific Financial Corp. has a 12-month low of $18.00 and a 12-month high of $33.25. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.29. The firm has a market capitalization of $844.58 million, a PE ratio of 14.86 and a beta of 1.18. The firm has a 50-day moving average price of $29.61 and a 200 day moving average price of $25.86.

Central Pacific Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 29th will be given a $0.26 dividend. This represents a $1.04 annualized dividend and a yield of 3.33%. The ex-dividend date is Friday, November 29th. Central Pacific Financial’s dividend payout ratio (DPR) is presently 49.52%.

Analysts Set New Price Targets

Separately, StockNews.com upgraded shares of Central Pacific Financial from a “sell” rating to a “hold” rating in a report on Monday.

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.