Arrowstreet Capital Limited Partnership Lowers Stock Position in Central Pacific Financial Corp. (NYSE:CPF)

Arrowstreet Capital Limited Partnership lowered its stake in Central Pacific Financial Corp. (NYSE:CPF - Free Report) by 8.7% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 412,542 shares of the financial services provider's stock after selling 39,280 shares during the quarter. Arrowstreet Capital Limited Partnership owned about 1.52% of Central Pacific Financial worth $11,984,000 as of its most recent SEC filing.

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 4th quarter valued at about $30,000. SBI Securities Co. Ltd. bought a new position in Central Pacific Financial during the 4th quarter valued at about $31,000. Quarry LP bought a new position in Central Pacific Financial during the 3rd quarter valued at about $53,000. Quantbot Technologies LP bought a new position in Central Pacific Financial during the 4th quarter valued at about $55,000. Finally, KLP Kapitalforvaltning AS bought a new position in Central Pacific Financial during the 4th quarter valued at about $168,000. Hedge funds and other institutional investors own 88.42% of the company's stock.

Analysts Set New Price Targets

Separately, StockNews.com raised shares of Central Pacific Financial from a "sell" rating to a "hold" rating in a research report on Thursday, March 20th.

Central Pacific Financial Trading Down 3.0 %

Central Pacific Financial stock traded down $0.77 during trading hours on Thursday, hitting $24.48. The company had a trading volume of 8,485 shares, compared to its average volume of 186,397. The firm has a market cap of $663.80 million, a P/E ratio of 12.43 and a beta of 0.98. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.85 and a current ratio of 0.85. Central Pacific Financial Corp. has a 1 year low of $18.59 and a 1 year high of $33.25. The company has a 50-day moving average price of $27.71 and a two-hundred day moving average price of $28.75.

Central Pacific Financial (NYSE:CPF - Get Free Report) last released its quarterly earnings data on Wednesday, January 29th. The financial services provider reported $0.70 earnings per share (EPS) for the quarter, beating the consensus estimate 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 declared a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Friday, February 28th were given a $0.27 dividend. This represents a $1.08 annualized dividend and a dividend yield of 4.41%. The ex-dividend date was Friday, February 28th. This is a boost from Central Pacific Financial's previous quarterly dividend of $0.26. Central Pacific Financial's dividend payout ratio is presently 54.82%.

About Central Pacific Financial

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.