Royce & Associates LP Reduces Stake in Central Pacific Financial Corp. (NYSE:CPF)

Royce & Associates LP lowered its holdings in Central Pacific Financial Corp. (NYSE:CPF) by 12.0% during the fourth quarter, HoldingsChannel reports. The fund owned 23,541 shares of the financial services provider’s stock after selling 3,197 shares during the period. Royce & Associates LP’s holdings in Central Pacific Financial were worth $684,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in CPF. Picton Mahoney Asset Management acquired a new stake in shares of Central Pacific Financial in the 4th quarter valued at about $30,000. SBI Securities Co. Ltd. acquired a new stake in shares of Central Pacific Financial in the 4th quarter valued at about $31,000. Quarry LP acquired a new stake in shares of Central Pacific Financial in the 3rd quarter valued at about $53,000. SG Americas Securities LLC boosted its position in shares of Central Pacific Financial by 7.2% in the 4th quarter. SG Americas Securities LLC now owns 6,643 shares of the financial services provider’s stock valued at $193,000 after purchasing an additional 448 shares during the period. Finally, Diversified Trust Co boosted its position in shares of Central Pacific Financial by 9.8% in the 4th quarter. Diversified Trust Co now owns 8,787 shares of the financial services provider’s stock valued at $255,000 after purchasing an additional 783 shares during the period. Hedge funds and other institutional investors own 88.42% of the company’s stock.

Central Pacific Financial Stock Down 0.2 %

Central Pacific Financial stock opened at $26.86 on Friday. Central Pacific Financial Corp. has a twelve month low of $18.53 and a twelve month high of $33.25. The stock has a 50 day moving average of $28.45 and a two-hundred day moving average of $28.91. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.35. The stock has a market capitalization of $728.44 million, a price-to-earnings ratio of 13.64 and a beta of 1.17.

Central Pacific Financial (NYSE:CPF) last posted its quarterly earnings data on Wednesday, January 29th. The financial services provider reported $0.70 earnings per share for the quarter, topping 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 expect that Central Pacific Financial Corp. will post 2.75 earnings per share for the current year.

Central Pacific Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Friday, February 28th were given a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a yield of 4.02%. This is a boost from Central Pacific Financial’s previous quarterly dividend of $0.26. The ex-dividend date was Friday, February 28th. Central Pacific Financial’s dividend payout ratio (DPR) is presently 54.82%.

Wall Street Analyst Weigh In

Separately, StockNews.com raised Central Pacific Financial from a “sell” rating to a “hold” rating in a research report on Thursday.

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.