Central Pacific Financial Corp. (NYSE:CPF) Shares Sold by Victory Capital Management Inc.

Victory Capital Management Inc. lowered its position in Central Pacific Financial Corp. (NYSE:CPF) by 23.8% in the third quarter, HoldingsChannel reports. The fund owned 28,973 shares of the financial services provider’s stock after selling 9,027 shares during the quarter. Victory Capital Management Inc.’s holdings in Central Pacific Financial were worth $855,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. CWM LLC raised its position in shares of Central Pacific Financial by 221.9% in the second quarter. CWM LLC now owns 1,957 shares of the financial services provider’s stock worth $41,000 after acquiring an additional 1,349 shares during the period. nVerses Capital LLC purchased a new stake in shares of Central Pacific Financial during the third quarter worth about $50,000. USA Financial Formulas purchased a new stake in shares of Central Pacific Financial during the third quarter worth about $81,000. SG Americas Securities LLC purchased a new stake in shares of Central Pacific Financial during the third quarter worth about $183,000. Finally, Cadinha & Co. LLC purchased a new stake in shares of Central Pacific Financial during the third quarter worth about $225,000. Institutional investors and hedge funds own 88.42% of the company’s stock.

Analysts Set New Price Targets

Separately, StockNews.com cut shares of Central Pacific Financial from a “hold” rating to a “sell” rating in a research note on Wednesday, November 20th.

Central Pacific Financial Stock Up 0.5 %

CPF stock opened at $32.39 on Thursday. The stock has a market capitalization of $876.80 million, a P/E ratio of 15.34 and a beta of 1.14. The firm has a 50-day simple moving average of $29.28 and a 200-day simple moving average of $25.49. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.29. Central Pacific Financial Corp. has a 52 week low of $16.95 and a 52 week high of $33.25.

Central Pacific Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 29th will be paid a dividend of $0.26 per share. The ex-dividend date is Friday, November 29th. This represents a $1.04 annualized dividend and a yield of 3.21%. Central Pacific Financial’s dividend payout ratio is presently 49.52%.

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.