Globeflex Capital L P Sells 2,710 Shares of Central Pacific Financial Corp. (NYSE:CPF)

Globeflex Capital L P lessened its position in shares of Central Pacific Financial Corp. (NYSE:CPF) by 10.3% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 23,571 shares of the financial services provider’s stock after selling 2,710 shares during the period. Globeflex Capital L P owned 0.09% of Central Pacific Financial worth $685,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Picton Mahoney Asset Management bought a new position in Central Pacific Financial during the fourth quarter worth $30,000. SBI Securities Co. Ltd. bought a new stake in Central Pacific Financial in the fourth quarter valued at $31,000. Quarry LP bought a new stake in Central Pacific Financial in the third quarter valued at $53,000. SG Americas Securities LLC increased its stake in Central Pacific Financial by 7.2% in the fourth 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 in the last quarter. Finally, Diversified Trust Co increased its stake in Central Pacific Financial by 9.8% in the fourth 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 in the last quarter. Institutional investors own 88.42% of the company’s stock.

Analyst Ratings Changes

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

Central Pacific Financial Stock Performance

Shares of CPF stock opened at $27.14 on Friday. The stock has a market capitalization of $734.44 million, a P/E ratio of 13.77 and a beta of 1.17. 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 firm’s 50 day moving average is $28.48 and its 200 day moving average is $28.94. Central Pacific Financial Corp. has a 12 month low of $18.35 and a 12 month high of $33.25.

Central Pacific Financial (NYSE:CPF) last posted its earnings results 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 net margin of 15.49% and a return on equity of 12.03%. On average, sell-side analysts anticipate that Central Pacific Financial Corp. will post 2.75 earnings per share for the current year.

Central Pacific Financial Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Friday, February 28th will be paid a $0.27 dividend. This is a boost from Central Pacific Financial’s previous quarterly dividend of $0.26. The ex-dividend date is Friday, February 28th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 3.98%. Central Pacific Financial’s dividend payout ratio is 54.82%.

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.