Central Pacific Financial Corp. (NYSE:CPF) Shares Sold by Cornercap Investment Counsel Inc.

Cornercap Investment Counsel Inc. decreased its position in shares of Central Pacific Financial Corp. (NYSE:CPF) by 51.7% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 13,550 shares of the financial services provider’s stock after selling 14,529 shares during the quarter. Cornercap Investment Counsel Inc. owned approximately 0.05% of Central Pacific Financial worth $400,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of CPF. CWM LLC boosted its position in shares of Central Pacific Financial by 221.9% during the 2nd quarter. CWM LLC now owns 1,957 shares of the financial services provider’s stock valued at $41,000 after acquiring an additional 1,349 shares during the last quarter. Allspring Global Investments Holdings LLC increased its stake in Central Pacific Financial by 660.9% during the first quarter. Allspring Global Investments Holdings LLC now owns 2,488 shares of the financial services provider’s stock worth $49,000 after purchasing an additional 2,161 shares during the period. nVerses Capital LLC purchased a new stake in Central Pacific Financial during the third quarter worth about $50,000. USA Financial Formulas acquired a new stake in Central Pacific Financial in the third quarter valued at approximately $81,000. Finally, SG Americas Securities LLC acquired a new stake in Central Pacific Financial in the third quarter valued at approximately $183,000. Institutional investors and hedge funds own 88.42% of the company’s stock.

Central Pacific Financial Stock Performance

Shares of CPF opened at $31.03 on Friday. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.29. The firm has a market cap of $839.83 million, a PE ratio of 14.78 and a beta of 1.14. The company’s 50 day simple moving average is $28.65 and its 200-day simple moving average is $24.94. Central Pacific Financial Corp. has a 12-month low of $16.95 and a 12-month high of $32.21.

Central Pacific Financial Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 29th will be given a dividend of $0.26 per share. The ex-dividend date of this dividend is Friday, November 29th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 3.35%. Central Pacific Financial’s dividend payout ratio (DPR) is presently 49.52%.

Wall Street Analyst Weigh In

Separately, StockNews.com raised shares of Central Pacific Financial from a “sell” rating to a “hold” rating in a report on Tuesday, November 12th.

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.