Wellington Management Group LLP Has $14.43 Million Holdings in Central Pacific Financial Corp. (NYSE:CPF)

Wellington Management Group LLP cut its holdings in shares of Central Pacific Financial Corp. (NYSE:CPF - Free Report) by 9.7% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 488,900 shares of the financial services provider's stock after selling 52,400 shares during the quarter. Wellington Management Group LLP owned approximately 1.81% of Central Pacific Financial worth $14,427,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. CWM LLC boosted its position in Central Pacific Financial by 221.9% during the second quarter. CWM LLC now owns 1,957 shares of the financial services provider's stock valued at $41,000 after purchasing an additional 1,349 shares during the last quarter. nVerses Capital LLC bought a new stake in shares of Central Pacific Financial during the 3rd quarter worth approximately $50,000. Quarry LP acquired a new stake in shares of Central Pacific Financial in the 3rd quarter valued at approximately $53,000. USA Financial Formulas bought a new position in shares of Central Pacific Financial in the third quarter valued at $81,000. Finally, SG Americas Securities LLC bought a new position in shares of Central Pacific Financial in the third quarter valued at $183,000. 88.42% of the stock is currently owned by institutional investors and hedge funds.

Central Pacific Financial Stock Performance

NYSE CPF traded down $0.05 during trading on Friday, reaching $30.91. 144,951 shares of the company's stock were exchanged, compared to its average volume of 193,786. 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 business has a 50 day moving average price of $30.09 and a 200-day moving average price of $26.45. The stock has a market capitalization of $836.73 million, a P/E ratio of 14.72 and a beta of 1.18. Central Pacific Financial Corp. has a fifty-two week low of $18.00 and a fifty-two week high of $33.25.

Central Pacific Financial Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 29th will be paid a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a yield of 3.36%. The ex-dividend date of this dividend is Friday, November 29th. Central Pacific Financial's dividend payout ratio (DPR) is presently 49.52%.

Analyst Ratings Changes

Separately, StockNews.com cut shares of Central Pacific Financial from a "hold" rating to a "sell" rating in a research note on Tuesday, December 10th.

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.