Bank of New York Mellon Corp Cuts Holdings in Central Pacific Financial Corp. (NYSE:CPF)

Bank of New York Mellon Corp lowered its stake in Central Pacific Financial Corp. (NYSE:CPF - Free Report) by 5.6% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 315,050 shares of the financial services provider's stock after selling 18,768 shares during the period. Bank of New York Mellon Corp owned 1.16% of Central Pacific Financial worth $9,152,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Y Intercept Hong Kong Ltd bought a new position in Central Pacific Financial in the 4th quarter valued at approximately $413,000. Principal Financial Group Inc. lifted its position in Central Pacific Financial by 4.1% in the 4th quarter. Principal Financial Group Inc. now owns 152,043 shares of the financial services provider's stock valued at $4,417,000 after acquiring an additional 5,978 shares in the last quarter. New York State Teachers Retirement System lifted its holdings in shares of Central Pacific Financial by 10.8% during the 4th quarter. New York State Teachers Retirement System now owns 26,892 shares of the financial services provider's stock valued at $781,000 after buying an additional 2,617 shares during the period. Empowered Funds LLC lifted its holdings in shares of Central Pacific Financial by 5.0% during the 4th quarter. Empowered Funds LLC now owns 90,584 shares of the financial services provider's stock valued at $2,631,000 after buying an additional 4,333 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Central Pacific Financial by 18.8% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 19,588 shares of the financial services provider's stock valued at $564,000 after buying an additional 3,098 shares during the period. 88.42% of the stock is owned by institutional investors.

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Central Pacific Financial Stock Performance

Shares of NYSE CPF traded down $0.05 during midday trading on Tuesday, hitting $27.05. 121,286 shares of the stock traded hands, compared to its average volume of 187,195. The firm has a 50-day moving average of $28.46 and a two-hundred day moving average of $28.94. The firm has a market capitalization of $733.41 million, a P/E ratio of 13.73 and a beta of 1.17. 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 one year low of $18.35 and a one year high of $33.25.

Central Pacific Financial (NYSE:CPF - Get Free Report) last announced its 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%. On average, equities analysts forecast that Central Pacific Financial Corp. will post 2.75 EPS for the current fiscal year.

Central Pacific Financial Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Friday, February 28th were issued a $0.27 dividend. This is a boost from Central Pacific Financial's previous quarterly dividend of $0.26. This represents a $1.08 dividend on an annualized basis and a yield of 3.99%. The ex-dividend date was Friday, February 28th. Central Pacific Financial's dividend payout ratio (DPR) is currently 54.82%.

Analyst Upgrades and Downgrades

Separately, StockNews.com cut Central Pacific Financial from a "hold" rating to a "sell" rating in a report on Wednesday, March 12th.

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.