Bank of New York Mellon Corp Trims Holdings in Central Pacific Financial Corp. (NYSE:CPF)

Bank of New York Mellon Corp lessened its stake in Central Pacific Financial Corp. (NYSE:CPF) by 0.1% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 349,704 shares of the financial services provider’s stock after selling 460 shares during the period. Bank of New York Mellon Corp owned about 1.29% of Central Pacific Financial worth $7,414,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in CPF. Acadian Asset Management LLC increased its position in shares of Central Pacific Financial by 359.7% in the 1st quarter. Acadian Asset Management LLC now owns 462,925 shares of the financial services provider’s stock worth $9,140,000 after purchasing an additional 362,232 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in Central Pacific Financial by 9.9% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,248,059 shares of the financial services provider’s stock valued at $24,562,000 after buying an additional 112,105 shares in the last quarter. Hsbc Holdings PLC lifted its holdings in Central Pacific Financial by 92.7% during the 4th quarter. Hsbc Holdings PLC now owns 119,370 shares of the financial services provider’s stock worth $2,359,000 after buying an additional 57,418 shares during the last quarter. LSV Asset Management grew its position in shares of Central Pacific Financial by 9.5% in the 1st quarter. LSV Asset Management now owns 599,368 shares of the financial services provider’s stock worth $11,838,000 after acquiring an additional 51,967 shares in the last quarter. Finally, Boston Partners acquired a new position in shares of Central Pacific Financial in the 1st quarter worth approximately $740,000. 88.42% of the stock is owned by institutional investors and hedge funds.

Central Pacific Financial Stock Performance

CPF stock opened at $26.20 on Thursday. The firm has a market cap of $708.50 million, a P/E ratio of 12.78 and a beta of 1.12. The stock’s 50 day simple moving average is $25.27 and its 200 day simple moving average is $21.79. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.30. Central Pacific Financial Corp. has a 12-month low of $14.69 and a 12-month high of $28.38.

Central Pacific Financial (NYSE:CPF) last posted its quarterly earnings results on Wednesday, July 31st. The financial services provider reported $0.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.48 by $0.10. Central Pacific Financial had a net margin of 16.44% and a return on equity of 11.36%. The company had revenue of $87.96 million for the quarter, compared to the consensus estimate of $61.74 million. During the same period last year, the firm posted $0.53 EPS. As a group, equities research analysts predict that Central Pacific Financial Corp. will post 2.2 EPS for the current year.

Central Pacific Financial Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, September 16th. Shareholders of record on Friday, August 30th will be paid a $0.26 dividend. The ex-dividend date is Friday, August 30th. This represents a $1.04 dividend on an annualized basis and a yield of 3.97%. Central Pacific Financial’s payout ratio is currently 50.73%.

Insider Transactions at Central Pacific Financial

In related news, Director Agnes Catherine Ngo sold 3,333 shares of the business’s stock in a transaction that occurred on Friday, July 12th. The stock was sold at an average price of $22.67, for a total transaction of $75,559.11. Following the completion of the transaction, the director now owns 75,357 shares in the company, valued at approximately $1,708,343.19. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 2.70% of the company’s stock.

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.