Central Pacific Financial Corp. (NYSE:CPF) Shares Sold by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. lowered its holdings in Central Pacific Financial Corp. (NYSE:CPF) by 16.1% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 42,954 shares of the financial services provider’s stock after selling 8,263 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in Central Pacific Financial were worth $1,268,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. State Board of Administration of Florida Retirement System acquired a new stake in Central Pacific Financial during the first quarter worth approximately $409,000. Vanguard Group Inc. raised its stake in Central Pacific Financial by 0.8% during the 1st quarter. Vanguard Group Inc. now owns 2,089,447 shares of the financial services provider’s stock worth $41,267,000 after acquiring an additional 17,058 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position in Central Pacific Financial by 4.2% in the first quarter. Price T Rowe Associates Inc. MD now owns 25,507 shares of the financial services provider’s stock valued at $504,000 after acquiring an additional 1,020 shares during the last quarter. Hancock Whitney Corp purchased a new stake in Central Pacific Financial in the first quarter valued at $272,000. Finally, EMC Capital Management acquired a new position in Central Pacific Financial in the first quarter valued at $228,000. Institutional investors and hedge funds own 88.42% of the company’s stock.

Central Pacific Financial Stock Performance

Shares of CPF opened at $32.22 on Wednesday. The company’s 50 day simple moving average is $29.21 and its 200-day simple moving average is $25.41. The firm has a market cap of $871.90 million, a PE ratio of 15.44 and a beta of 1.14. Central Pacific Financial Corp. has a 12-month low of $16.95 and a 12-month high of $33.25. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.29.

Central Pacific Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 29th will be given a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a yield of 3.23%. The ex-dividend date of this dividend is Friday, November 29th. Central Pacific Financial’s payout ratio is currently 49.52%.

Wall Street Analysts Forecast Growth

Separately, StockNews.com downgraded Central Pacific Financial from a “hold” rating to a “sell” rating in a report on Wednesday, November 20th.

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.