Teacher Retirement System of Texas Sells 28,092 Shares of Central Pacific Financial Corp. (NYSE:CPF)

Teacher Retirement System of Texas trimmed its stake in Central Pacific Financial Corp. (NYSE:CPF - Free Report) by 30.4% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 64,337 shares of the financial services provider's stock after selling 28,092 shares during the period. Teacher Retirement System of Texas owned 0.24% of Central Pacific Financial worth $1,869,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. SG Americas Securities LLC boosted its holdings in Central Pacific Financial by 7.2% in the 4th quarter. SG Americas Securities LLC now owns 6,643 shares of the financial services provider's stock worth $193,000 after buying an additional 448 shares during the period. Algert Global LLC boosted its stake in shares of Central Pacific Financial by 1.4% in the third quarter. Algert Global LLC now owns 41,936 shares of the financial services provider's stock worth $1,238,000 after acquiring an additional 570 shares during the period. Diversified Trust Co grew its position in shares of 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 in the last quarter. Picton Mahoney Asset Management bought a new stake in Central Pacific Financial during the 4th quarter valued at approximately $30,000. Finally, SBI Securities Co. Ltd. purchased a new position in Central Pacific Financial in the 4th quarter worth approximately $31,000. Hedge funds and other institutional investors own 88.42% of the company's stock.

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Central Pacific Financial Price Performance

NYSE CPF traded up $0.11 during trading on Monday, hitting $27.04. 128,499 shares of the stock traded hands, compared to its average volume of 204,374. The company has a market capitalization of $733.08 million, a P/E ratio of 13.72 and a beta of 1.17. Central Pacific Financial Corp. has a 12-month low of $18.53 and a 12-month high of $33.25. The firm has a 50-day simple moving average of $28.36 and a 200-day simple moving average of $28.95. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.35.

Central Pacific Financial (NYSE:CPF - Get Free Report) last announced its quarterly earnings results on Wednesday, January 29th. The financial services provider reported $0.70 earnings per share for the quarter, topping 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%. As a group, analysts predict that Central Pacific Financial Corp. will post 2.75 EPS for the current year.

Central Pacific Financial Increases Dividend

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

Analyst Ratings Changes

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

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.