AlphaQuest LLC Has $485,000 Stock Position in Central Pacific Financial Corp. (NYSE:CPF)

AlphaQuest LLC lowered its stake in Central Pacific Financial Corp. (NYSE:CPF - Free Report) by 48.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 16,685 shares of the financial services provider's stock after selling 15,398 shares during the quarter. AlphaQuest LLC owned approximately 0.06% of Central Pacific Financial worth $485,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. SBI Securities Co. Ltd. acquired a new stake in shares of Central Pacific Financial in the fourth quarter valued at about $31,000. Quarry LP bought a new position in Central Pacific Financial during the third quarter worth about $53,000. SG Americas Securities LLC grew its holdings in Central Pacific Financial by 7.2% during the fourth quarter. SG Americas Securities LLC now owns 6,643 shares of the financial services provider's stock worth $193,000 after purchasing an additional 448 shares during the period. Diversified Trust Co grew its holdings in Central Pacific Financial by 9.8% during the fourth quarter. Diversified Trust Co now owns 8,787 shares of the financial services provider's stock worth $255,000 after purchasing an additional 783 shares during the period. Finally, EMC Capital Management grew its holdings in Central Pacific Financial by 92.2% during the fourth quarter. EMC Capital Management now owns 11,559 shares of the financial services provider's stock worth $336,000 after purchasing an additional 5,544 shares during the period. Institutional investors and hedge funds own 88.42% of the company's stock.

Analyst Upgrades and Downgrades

Separately, StockNews.com cut Central Pacific Financial from a "hold" rating to a "sell" rating in a report on Wednesday.

Remove Ads

Central Pacific Financial Trading Up 0.5 %

Central Pacific Financial stock opened at $26.69 on Thursday. Central Pacific Financial Corp. has a 52 week low of $18.35 and a 52 week high of $33.25. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.85 and a current ratio of 0.85. The stock has a market capitalization of $722.26 million, a P/E ratio of 13.55 and a beta of 1.17. The stock has a 50-day simple moving average of $28.54 and a 200 day simple moving average of $28.97.

Central Pacific Financial (NYSE:CPF - Get Free Report) last posted its quarterly earnings results on Wednesday, January 29th. The financial services provider reported $0.70 EPS for the quarter, topping analysts' consensus estimates of $0.61 by $0.09. Central Pacific Financial had a return on equity of 12.03% and a net margin of 15.49%. Analysts expect that Central Pacific Financial Corp. will post 2.75 earnings per share for the current year.

Central Pacific Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Friday, February 28th will be issued a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a dividend yield of 4.05%. The ex-dividend date of this dividend is Friday, February 28th. This is a boost from Central Pacific Financial's previous quarterly dividend of $0.26. Central Pacific Financial's payout ratio is currently 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.