Quarry LP Makes New Investment in Central Pacific Financial Corp. (NYSE:CPF)

Quarry LP bought a new stake in Central Pacific Financial Corp. (NYSE:CPF) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 1,785 shares of the financial services provider’s stock, valued at approximately $53,000.

A number of other institutional investors have also recently made changes to their positions in the company. Algert Global LLC raised its stake in Central Pacific Financial by 1.4% in the 3rd quarter. Algert Global LLC now owns 41,936 shares of the financial services provider’s stock valued at $1,238,000 after purchasing an additional 570 shares during the last quarter. Panagora Asset Management Inc. grew its holdings in shares of Central Pacific Financial by 0.6% during the second quarter. Panagora Asset Management Inc. now owns 152,349 shares of the financial services provider’s stock worth $3,230,000 after buying an additional 949 shares in the last quarter. Price T Rowe Associates Inc. MD raised its position in shares of Central Pacific Financial by 4.2% in the first quarter. Price T Rowe Associates Inc. MD now owns 25,507 shares of the financial services provider’s stock valued at $504,000 after buying an additional 1,020 shares during the last quarter. CWM LLC lifted its stake in shares of 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 buying an additional 1,349 shares in the last quarter. Finally, nVerses Capital LLC acquired a new position in Central Pacific Financial during the third quarter worth about $50,000. 88.42% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Central Pacific Financial Stock Performance

Shares of Central Pacific Financial stock opened at $30.92 on Tuesday. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.85 and a current ratio of 0.85. The business’s 50 day moving average price is $29.86 and its 200 day moving average price is $26.16. The company has a market cap of $837.00 million, a price-to-earnings ratio of 14.72 and a beta of 1.18. Central Pacific Financial Corp. has a one year low of $18.00 and a one year high of $33.25.

Central Pacific Financial Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 29th will be given a dividend of $0.26 per share. The ex-dividend date of this dividend is Friday, November 29th. This represents a $1.04 annualized dividend and a dividend yield of 3.36%. Central Pacific Financial’s payout ratio is 49.52%.

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.