Wellington Management Group LLP Sells 69,000 Shares of Central Pacific Financial Corp. (NYSE:CPF)

Wellington Management Group LLP trimmed its stake in Central Pacific Financial Corp. (NYSE:CPF - Free Report) by 14.1% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 419,900 shares of the financial services provider's stock after selling 69,000 shares during the period. Wellington Management Group LLP owned 1.55% of Central Pacific Financial worth $12,198,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Picton Mahoney Asset Management purchased a new stake in Central Pacific Financial in the fourth quarter worth about $30,000. SBI Securities Co. Ltd. purchased a new stake in Central Pacific Financial in the 4th quarter worth approximately $31,000. Quantbot Technologies LP bought a new stake in Central Pacific Financial during the 4th quarter worth approximately $55,000. KLP Kapitalforvaltning AS bought a new position in shares of Central Pacific Financial in the fourth quarter worth approximately $168,000. Finally, SG Americas Securities LLC increased its stake in shares of Central Pacific Financial by 7.2% in the fourth quarter. SG Americas Securities LLC now owns 6,643 shares of the financial services provider's stock worth $193,000 after purchasing an additional 448 shares in the last quarter. 88.42% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

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

Central Pacific Financial Price Performance

NYSE CPF traded up $0.58 during trading hours on Tuesday, reaching $24.93. The company's stock had a trading volume of 14,383 shares, compared to its average volume of 203,661. Central Pacific Financial Corp. has a 1 year low of $18.60 and a 1 year high of $33.25. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.35. The company has a market capitalization of $675.87 million, a price-to-earnings ratio of 12.65 and a beta of 0.98. The firm's 50-day moving average price is $27.36 and its 200-day moving average price is $28.67.

Central Pacific Financial (NYSE:CPF - Get Free Report) last released its earnings results on Wednesday, January 29th. The financial services provider reported $0.70 EPS 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%. On average, equities research analysts predict that Central Pacific Financial Corp. will post 2.75 EPS for the current fiscal year.

Central Pacific Financial Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Friday, February 28th were issued a $0.27 dividend. This represents a $1.08 annualized dividend and a dividend yield of 4.33%. This is a boost from Central Pacific Financial's previous quarterly dividend of $0.26. The ex-dividend date of this dividend was Friday, February 28th. Central Pacific Financial's payout ratio is 54.82%.

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.