Prudential Financial Inc. reduced its position in Central Pacific Financial Corp. (NYSE:CPF) by 4.6% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 71,684 shares of the financial services provider’s stock after selling 3,482 shares during the quarter. Prudential Financial Inc. owned about 0.24% of Central Pacific Financial worth $1,895,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. LSV Asset Management increased its stake in Central Pacific Financial by 2.2% in the third quarter. LSV Asset Management now owns 703,073 shares of the financial services provider’s stock valued at $18,582,000 after purchasing an additional 15,300 shares during the last quarter. American Century Companies Inc. increased its stake in Central Pacific Financial by 24.2% in the third quarter. American Century Companies Inc. now owns 495,882 shares of the financial services provider’s stock valued at $13,106,000 after purchasing an additional 96,676 shares during the last quarter. Engineers Gate Manager LP acquired a new position in Central Pacific Financial in the third quarter valued at $406,000. Assenagon Asset Management S.A. acquired a new position in Central Pacific Financial in the third quarter valued at $4,740,000. Finally, Xact Kapitalforvaltning AB increased its stake in Central Pacific Financial by 25.6% in the third quarter. Xact Kapitalforvaltning AB now owns 16,195 shares of the financial services provider’s stock valued at $428,000 after purchasing an additional 3,300 shares during the last quarter. 92.78% of the stock is owned by hedge funds and other institutional investors.
Shares of NYSE:CPF opened at $24.81 on Wednesday. The stock has a market cap of $737.19 million, a price-to-earnings ratio of 13.51 and a beta of 0.87. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 0.19. Central Pacific Financial Corp. has a 12 month low of $23.85 and a 12 month high of $31.61.
The company also recently declared a quarterly dividend, which was paid on Monday, December 17th. Shareholders of record on Friday, November 30th were paid a dividend of $0.21 per share. The ex-dividend date of this dividend was Thursday, November 29th. This represents a $0.84 annualized dividend and a yield of 3.39%. Central Pacific Financial’s dividend payout ratio is presently 52.83%.
Several equities analysts recently commented on CPF shares. Zacks Investment Research upgraded Central Pacific Financial from a “hold” rating to a “buy” rating and set a $30.00 target price for the company in a research note on Tuesday, September 25th. ValuEngine upgraded Central Pacific Financial from a “sell” rating to a “hold” rating in a research note on Monday.
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Central Pacific Financial Profile
Central Pacific Financial Corp. operates as the holding company for Central Pacific Bank that provides commercial banking products and services to businesses, professionals, and individuals in Hawaii. The company operates in three segments: Banking Operations, Treasury, and All Others. It offers various deposit products and services, including personal and business checking and savings accounts, money market accounts, and time certificates of deposit.
Further Reading: Cost of Equity
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