Hotchkis & Wiley Capital Management LLC Sells 69,790 Shares of Central Pacific Financial Corp. (NYSE:CPF)

Hotchkis & Wiley Capital Management LLC trimmed its holdings in Central Pacific Financial Corp. (NYSE:CPF - Free Report) by 15.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 394,400 shares of the financial services provider's stock after selling 69,790 shares during the period. Hotchkis & Wiley Capital Management LLC owned 1.46% of Central Pacific Financial worth $11,639,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in CPF. Boston Partners bought a new stake in shares of Central Pacific Financial during the first quarter worth $740,000. Quest Partners LLC raised its holdings in shares of Central Pacific Financial by 144.4% during the third quarter. Quest Partners LLC now owns 32,083 shares of the financial services provider's stock valued at $947,000 after purchasing an additional 18,955 shares during the period. Assenagon Asset Management S.A. raised its holdings in shares of Central Pacific Financial by 143.4% during the third quarter. Assenagon Asset Management S.A. now owns 456,132 shares of the financial services provider's stock valued at $13,460,000 after purchasing an additional 268,719 shares during the period. Acadian Asset Management LLC raised its holdings in shares of Central Pacific Financial by 16.6% in the 2nd quarter. Acadian Asset Management LLC now owns 539,882 shares of the financial services provider's stock worth $11,442,000 after acquiring an additional 76,957 shares during the last quarter. Finally, nVerses Capital LLC acquired a new stake in shares of Central Pacific Financial in the 3rd quarter worth about $50,000. 88.42% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Central Pacific Financial Trading Up 1.1 %

NYSE:CPF traded up $0.33 during trading hours on Wednesday, reaching $31.53. The company's stock had a trading volume of 117,984 shares, compared to its average volume of 195,348. The firm has a market capitalization of $853.52 million, a price-to-earnings ratio of 15.01 and a beta of 1.18. The firm has a 50-day simple moving average of $29.68 and a 200-day simple moving average of $25.90. 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 quick ratio of 0.85 and a current ratio of 0.85.

Central Pacific Financial Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 29th will be paid a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a dividend yield of 3.30%. The ex-dividend date of this dividend is Friday, November 29th. Central Pacific Financial's payout ratio is 49.52%.

Central Pacific Financial Company 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.