Hsbc Holdings PLC Sells 81,513 Shares of Central Pacific Financial Corp. (NYSE:CPF)

Hsbc Holdings PLC lessened its holdings in Central Pacific Financial Corp. (NYSE:CPF) by 81.7% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 18,255 shares of the financial services provider’s stock after selling 81,513 shares during the quarter. Hsbc Holdings PLC owned approximately 0.07% of Central Pacific Financial worth $388,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also made changes to their positions in CPF. CWM LLC lifted its stake in shares of Central Pacific Financial by 221.9% during the 2nd quarter. CWM LLC now owns 1,957 shares of the financial services provider’s stock worth $41,000 after purchasing an additional 1,349 shares during the last quarter. Allspring Global Investments Holdings LLC increased its holdings in shares of Central Pacific Financial by 660.9% in the first quarter. Allspring Global Investments Holdings LLC now owns 2,488 shares of the financial services provider’s stock valued at $49,000 after purchasing an additional 2,161 shares during the period. Central Pacific Bank Trust Division acquired a new stake in Central Pacific Financial during the first quarter worth about $134,000. EMC Capital Management acquired a new stake in Central Pacific Financial during the first quarter worth about $228,000. Finally, Quadrature Capital Ltd acquired a new stake in Central Pacific Financial during the fourth quarter worth about $235,000. 88.42% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director Agnes Catherine Ngo sold 3,333 shares of the business’s stock in a transaction on Friday, July 12th. The stock was sold at an average price of $22.67, for a total transaction of $75,559.11. Following the completion of the transaction, the director now directly owns 75,357 shares of the company’s stock, valued at approximately $1,708,343.19. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 2.70% of the stock is currently owned by insiders.

Central Pacific Financial Stock Performance

Shares of CPF stock opened at $28.10 on Thursday. The company has a market capitalization of $759.88 million, a P/E ratio of 13.71 and a beta of 1.12. The business’s 50 day moving average is $26.74 and its two-hundred day moving average is $22.72. Central Pacific Financial Corp. has a 12-month low of $14.69 and a 12-month high of $29.55. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.30.

Central Pacific Financial (NYSE:CPF) last announced its quarterly earnings data on Wednesday, July 31st. The financial services provider reported $0.58 EPS for the quarter, topping analysts’ consensus estimates of $0.48 by $0.10. Central Pacific Financial had a return on equity of 11.36% and a net margin of 16.44%. The firm had revenue of $87.96 million for the quarter, compared to the consensus estimate of $61.74 million. During the same quarter last year, the business posted $0.53 earnings per share. Analysts expect that Central Pacific Financial Corp. will post 2.2 EPS for the current fiscal year.

Central Pacific Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Friday, August 30th were paid a $0.26 dividend. The ex-dividend date was Friday, August 30th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 3.70%. Central Pacific Financial’s payout ratio is presently 50.73%.

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.