PNC Financial Services Group Inc. Decreases Position in Central Pacific Financial Corp. (NYSE:CPF)

PNC Financial Services Group Inc. trimmed its holdings in Central Pacific Financial Corp. (NYSE:CPF) by 16.1% in the fourth quarter, HoldingsChannel.com reports. The firm owned 2,089 shares of the financial services provider’s stock after selling 400 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Central Pacific Financial were worth $61,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in CPF. SG Americas Securities LLC grew its stake in Central Pacific Financial by 7.2% during the 4th quarter. SG Americas Securities LLC now owns 6,643 shares of the financial services provider’s stock worth $193,000 after buying an additional 448 shares during the last quarter. Algert Global LLC boosted its holdings 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 acquiring an additional 570 shares during the period. Diversified Trust Co grew its position in shares of Central Pacific Financial by 9.8% during the fourth quarter. Diversified Trust Co now owns 8,787 shares of the financial services provider’s stock worth $255,000 after acquiring an additional 783 shares during the last quarter. SBI Securities Co. Ltd. acquired a new position in shares of Central Pacific Financial in the 4th quarter valued at $31,000. Finally, Quarry LP purchased a new stake in Central Pacific Financial in the 3rd quarter valued at $53,000. 88.42% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Separately, StockNews.com raised shares of Central Pacific Financial from a “sell” rating to a “hold” rating in a research report on Thursday, March 20th.

Central Pacific Financial Stock Up 0.7 %

CPF opened at $27.48 on Thursday. Central Pacific Financial Corp. has a 52 week low of $18.53 and a 52 week high of $33.25. The business has a 50 day moving average price of $28.44 and a two-hundred day moving average price of $28.92. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.35. The company has a market cap of $745.26 million, a PE ratio of 13.95 and a beta of 1.17.

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

Central Pacific Financial Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Friday, February 28th were paid a $0.27 dividend. This represents a $1.08 annualized dividend and a dividend yield of 3.93%. The ex-dividend date was Friday, February 28th. This is a boost from Central Pacific Financial’s previous quarterly dividend of $0.26. Central Pacific Financial’s dividend payout ratio (DPR) is 54.82%.

Central Pacific Financial Company Profile

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.