Prudential Financial Inc. Sells 13,800 Shares of Central Pacific Financial Corp. (NYSE:CPF)

Prudential Financial Inc. trimmed its holdings in Central Pacific Financial Corp. (NYSE:CPF - Free Report) by 26.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 37,806 shares of the financial services provider's stock after selling 13,800 shares during the period. Prudential Financial Inc. owned 0.14% of Central Pacific Financial worth $1,098,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Picton Mahoney Asset Management acquired a new stake in Central Pacific Financial during the 4th quarter valued at $30,000. SBI Securities Co. Ltd. bought a new position in shares of Central Pacific Financial in the fourth quarter valued at about $31,000. Quarry LP acquired a new stake in shares of Central Pacific Financial during the 3rd quarter worth about $53,000. Quantbot Technologies LP acquired a new stake in shares of Central Pacific Financial during the 4th quarter worth about $55,000. Finally, KLP Kapitalforvaltning AS bought a new stake in shares of Central Pacific Financial during the 4th quarter worth about $168,000. 88.42% of the stock is currently owned by institutional investors.

Central Pacific Financial Stock Performance

NYSE:CPF traded down $0.11 during mid-day trading on Friday, hitting $24.01. 127,148 shares of the stock were exchanged, compared to its average volume of 204,905. The firm's 50-day simple moving average is $27.48 and its 200 day simple moving average is $28.69. The stock has a market capitalization of $651.08 million, a price-to-earnings ratio of 12.19 and a beta of 0.98. Central Pacific Financial Corp. has a fifty-two week low of $18.60 and a fifty-two week high of $33.25. 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 (NYSE:CPF - Get Free Report) last posted its earnings results on Wednesday, January 29th. The financial services provider reported $0.70 earnings per share 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%. As a group, equities analysts anticipate that Central Pacific Financial Corp. will post 2.75 EPS for the current fiscal year.

Central Pacific Financial Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Friday, February 28th were issued a $0.27 dividend. The ex-dividend date was Friday, February 28th. This represents a $1.08 dividend on an annualized basis and a yield of 4.50%. This is an increase from Central Pacific Financial's previous quarterly dividend of $0.26. Central Pacific Financial's payout ratio is currently 54.82%.

Wall Street Analysts Forecast Growth

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

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.