Central Pacific Financial Corp. (NYSE:CPF) Stake Lowered by Twin Lakes Capital Management LLC

Twin Lakes Capital Management LLC cut its holdings in Central Pacific Financial Corp. (NYSE:CPF) by 1.5% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 184,718 shares of the financial services provider’s stock after selling 2,901 shares during the quarter. Central Pacific Financial makes up about 3.0% of Twin Lakes Capital Management LLC’s investment portfolio, making the stock its 6th largest position. Twin Lakes Capital Management LLC owned approximately 0.68% of Central Pacific Financial worth $5,451,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Basswood Capital Management L.L.C. purchased a new position in shares of Central Pacific Financial in the 3rd quarter valued at $15,455,000. Assenagon Asset Management S.A. grew its stake in Central Pacific Financial by 143.4% in the third quarter. Assenagon Asset Management S.A. now owns 456,132 shares of the financial services provider’s stock valued at $13,460,000 after purchasing an additional 268,719 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in Central Pacific Financial by 5.9% in the second quarter. Dimensional Fund Advisors LP now owns 1,404,043 shares of the financial services provider’s stock valued at $29,765,000 after purchasing an additional 77,868 shares during the last quarter. American Century Companies Inc. raised its holdings in Central Pacific Financial by 17.8% in the second quarter. American Century Companies Inc. now owns 511,590 shares of the financial services provider’s stock worth $10,846,000 after purchasing an additional 77,265 shares in the last quarter. Finally, Acadian Asset Management LLC lifted its position in shares of Central Pacific Financial by 16.6% during the second quarter. Acadian Asset Management LLC now owns 539,882 shares of the financial services provider’s stock valued at $11,442,000 after buying an additional 76,957 shares during the last quarter. 88.42% of the stock is currently owned by institutional investors.

Central Pacific Financial Trading Down 1.9 %

Shares of Central Pacific Financial stock opened at $30.92 on Tuesday. The firm’s 50 day simple moving average is $29.86 and its two-hundred day simple moving average is $26.16. The firm has a market capitalization of $837.00 million, a price-to-earnings ratio of 14.72 and a beta of 1.18. Central Pacific Financial Corp. has a 12-month low of $18.00 and a 12-month high of $33.25. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.29.

Central Pacific Financial Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 29th will be paid a $0.26 dividend. The ex-dividend date is Friday, November 29th. This represents a $1.04 dividend on an annualized basis and a yield of 3.36%. Central Pacific Financial’s dividend payout ratio (DPR) is 49.52%.

Analyst Ratings Changes

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

Central Pacific Financial 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.