Central Pacific Financial Corp. (NYSE:CPF) Shares Sold by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. decreased its holdings in Central Pacific Financial Corp. (NYSE:CPF) by 0.8% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 998,839 shares of the financial services provider’s stock after selling 8,166 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in Central Pacific Financial were worth $29,016,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the company. Empowered Funds LLC grew its position in shares of Central Pacific Financial by 5.2% in the third quarter. Empowered Funds LLC now owns 86,251 shares of the financial services provider’s stock valued at $2,545,000 after purchasing an additional 4,288 shares in the last quarter. Quest Partners LLC grew its position in shares of Central Pacific Financial by 144.4% in the third quarter. Quest Partners LLC now owns 32,083 shares of the financial services provider’s stock valued at $947,000 after purchasing an additional 18,955 shares in the last quarter. Algert Global LLC grew its position in shares of Central Pacific Financial by 1.4% in the third quarter. Algert Global LLC now owns 41,936 shares of the financial services provider’s stock valued at $1,238,000 after purchasing an additional 570 shares in the last quarter. FMR LLC grew its position in Central Pacific Financial by 24.4% in the third quarter. FMR LLC now owns 295,359 shares of the financial services provider’s stock worth $8,716,000 after acquiring an additional 58,009 shares during the period. Finally, Martingale Asset Management L P grew its position in Central Pacific Financial by 4.6% in the third quarter. Martingale Asset Management L P now owns 90,226 shares of the financial services provider’s stock worth $2,663,000 after acquiring an additional 3,945 shares during the period. Institutional investors and hedge funds own 88.42% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, StockNews.com cut Central Pacific Financial from a “hold” rating to a “sell” rating in a research note on Wednesday, March 12th.

Central Pacific Financial Stock Up 0.1 %

Shares of NYSE CPF opened at $27.15 on Tuesday. The stock has a market cap of $736.20 million, a P/E ratio of 13.78 and a beta of 1.17. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.35. Central Pacific Financial Corp. has a 12-month low of $18.35 and a 12-month high of $33.25. The business’s fifty day simple moving average is $28.46 and its 200-day simple moving average is $28.94.

Central Pacific Financial (NYSE:CPF) last posted its quarterly earnings results on Wednesday, January 29th. The financial services provider reported $0.70 earnings per share for the quarter, beating analysts’ consensus estimates of $0.61 by $0.09. Central Pacific Financial had a return on equity of 12.03% and a net margin of 15.49%. As a group, equities analysts predict that Central Pacific Financial Corp. will post 2.75 EPS for the current fiscal year.

Central Pacific Financial Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Friday, February 28th were paid a $0.27 dividend. The ex-dividend date was Friday, February 28th. This is a boost from Central Pacific Financial’s previous quarterly dividend of $0.26. This represents a $1.08 dividend on an annualized basis and a yield of 3.98%. Central Pacific Financial’s dividend payout ratio (DPR) is currently 54.82%.

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.