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

Connor Clark & Lunn Investment Management Ltd. lowered its stake in shares of Central Pacific Financial Corp. (NYSE:CPF) by 5.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 40,474 shares of the financial services provider’s stock after selling 2,480 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned 0.15% of Central Pacific Financial worth $1,176,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in CPF. Geode Capital Management LLC boosted its stake in Central Pacific Financial by 4.0% in the 3rd quarter. Geode Capital Management LLC now owns 640,369 shares of the financial services provider’s stock worth $18,901,000 after buying an additional 24,686 shares during the last quarter. Basswood Capital Management L.L.C. acquired a new stake in Central Pacific Financial in the 3rd quarter worth about $15,455,000. JPMorgan Chase & Co. boosted its stake in Central Pacific Financial by 6.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 431,498 shares of the financial services provider’s stock worth $12,734,000 after buying an additional 26,139 shares during the last quarter. FMR LLC boosted its stake in Central Pacific Financial by 24.4% in the 3rd quarter. FMR LLC now owns 295,359 shares of the financial services provider’s stock worth $8,716,000 after buying an additional 58,009 shares during the last quarter. Finally, Principal Financial Group Inc. boosted its stake in Central Pacific Financial by 4.1% in the 4th quarter. Principal Financial Group Inc. now owns 152,043 shares of the financial services provider’s stock worth $4,417,000 after buying an additional 5,978 shares during the last quarter. Institutional investors and hedge funds own 88.42% of the company’s stock.

Wall Street Analyst Weigh In

Separately, StockNews.com raised Central Pacific Financial from a “sell” rating to a “hold” rating in a research note on Thursday.

Central Pacific Financial Stock Performance

Central Pacific Financial stock opened at $26.93 on Friday. The stock’s 50-day moving average is $28.44 and its 200-day moving average is $28.92. The company has a market cap of $730.23 million, a price-to-earnings ratio of 13.67 and a beta of 1.17. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.85 and a quick ratio of 0.85. Central Pacific Financial Corp. has a 12 month low of $18.53 and a 12 month high of $33.25.

Central Pacific Financial (NYSE:CPF) last released its quarterly earnings data on Wednesday, January 29th. The financial services provider reported $0.70 EPS for the quarter, topping 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%. Equities analysts anticipate that Central Pacific Financial Corp. will post 2.75 earnings per share for the current year.

Central Pacific Financial Increases Dividend

The company also recently disclosed 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 dividend on an annualized basis and a dividend yield of 4.01%. This is an increase from Central Pacific Financial’s previous quarterly dividend of $0.26. The ex-dividend date was Friday, February 28th. Central Pacific Financial’s dividend payout ratio (DPR) is 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.