523,729 Shares in Central Pacific Financial Corp. (NYSE:CPF) Acquired by Basswood Capital Management L.L.C.

Basswood Capital Management L.L.C. bought a new stake in shares of Central Pacific Financial Corp. (NYSE:CPF - Free Report) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 523,729 shares of the financial services provider's stock, valued at approximately $15,455,000. Basswood Capital Management L.L.C. owned approximately 1.93% of Central Pacific Financial at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Assenagon Asset Management S.A. boosted its stake in shares of Central Pacific Financial by 143.4% in the third quarter. Assenagon Asset Management S.A. now owns 456,132 shares of the financial services provider's stock worth $13,460,000 after buying an additional 268,719 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Central Pacific Financial by 5.9% in the second quarter. Dimensional Fund Advisors LP now owns 1,404,043 shares of the financial services provider's stock worth $29,765,000 after buying an additional 77,868 shares during the last quarter. American Century Companies Inc. boosted its stake in shares of Central Pacific Financial by 17.8% in the second quarter. American Century Companies Inc. now owns 511,590 shares of the financial services provider's stock worth $10,846,000 after buying an additional 77,265 shares during the last quarter. Acadian Asset Management LLC boosted its stake in shares of Central Pacific Financial by 16.6% in the second quarter. Acadian Asset Management LLC now owns 539,882 shares of the financial services provider's stock worth $11,442,000 after buying an additional 76,957 shares during the last quarter. Finally, LSV Asset Management boosted its stake in shares of Central Pacific Financial by 10.7% in the second quarter. LSV Asset Management now owns 663,230 shares of the financial services provider's stock worth $14,060,000 after buying an additional 63,862 shares during the last quarter. Hedge funds and other institutional investors own 88.42% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, StockNews.com downgraded Central Pacific Financial from a "hold" rating to a "sell" rating in a research note on Wednesday, November 20th.

Central Pacific Financial Price Performance

NYSE CPF traded up $0.07 during trading hours on Monday, reaching $31.99. The company's stock had a trading volume of 68,746 shares, compared to its average volume of 194,998. The firm has a market capitalization of $865.97 million, a price-to-earnings ratio of 15.25 and a beta of 1.14. Central Pacific Financial Corp. has a 1-year low of $18.00 and a 1-year high of $33.25. The company has a debt-to-equity ratio of 0.29, a current ratio of 0.85 and a quick ratio of 0.85. The company's 50-day moving average is $29.50 and its two-hundred day moving average is $25.72.

Central Pacific Financial Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 29th will be issued 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 3.25%. Central Pacific Financial's payout ratio is currently 49.52%.

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.