New York Life Investment Management LLC lowered its position in shares of Central Pacific Financial Corp. (NYSE:CPF – Free Report) by 13.6% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 19,891 shares of the financial services provider’s stock after selling 3,133 shares during the quarter. New York Life Investment Management LLC owned approximately 0.07% of Central Pacific Financial worth $332,000 at the end of the most recent quarter.
Other hedge funds have also made changes to their positions in the company. Assenagon Asset Management S.A. increased its position in shares of Central Pacific Financial by 240.4% during the 3rd quarter. Assenagon Asset Management S.A. now owns 265,006 shares of the financial services provider’s stock worth $4,420,000 after purchasing an additional 187,164 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its position in shares of Central Pacific Financial by 6.1% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 14,675 shares of the financial services provider’s stock worth $245,000 after purchasing an additional 841 shares in the last quarter. Illinois Municipal Retirement Fund acquired a new stake in shares of Central Pacific Financial during the 3rd quarter worth about $282,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its position in shares of Central Pacific Financial by 6.7% during the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 30,527 shares of the financial services provider’s stock worth $480,000 after purchasing an additional 1,912 shares in the last quarter. Finally, SG Americas Securities LLC increased its position in shares of Central Pacific Financial by 61.0% during the 3rd quarter. SG Americas Securities LLC now owns 25,465 shares of the financial services provider’s stock worth $425,000 after purchasing an additional 9,644 shares in the last quarter. Institutional investors and hedge funds own 88.79% of the company’s stock.
Central Pacific Financial Stock Up 0.4 %
Shares of NYSE:CPF opened at $19.43 on Tuesday. The company’s 50-day moving average price is $19.34 and its two-hundred day moving average price is $17.78. Central Pacific Financial Corp. has a 12 month low of $13.22 and a 12 month high of $23.75. The firm has a market cap of $525.39 million, a P/E ratio of 8.95 and a beta of 1.16. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.37.
Central Pacific Financial Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 15th. Investors of record on Thursday, February 29th will be paid a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a yield of 5.35%. The ex-dividend date of this dividend is Wednesday, February 28th. Central Pacific Financial’s payout ratio is 47.93%.
Insider Buying and Selling
In related news, Director Agnes Catherine Ngo sold 3,333 shares of Central Pacific Financial stock in a transaction that occurred on Friday, January 12th. The shares were sold at an average price of $19.16, for a total transaction of $63,860.28. Following the transaction, the director now owns 95,355 shares of the company’s stock, valued at approximately $1,827,001.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have sold 9,999 shares of company stock valued at $191,614 in the last 90 days. 2.70% of the stock is owned by insiders.
Analyst Upgrades and Downgrades
Separately, Piper Sandler increased their price objective on shares of Central Pacific Financial from $22.00 to $24.00 and gave the stock an “overweight” rating in a report on Thursday, February 1st.
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.
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