Empowered Funds LLC Grows Stock Position in Central Pacific Financial Corp. (NYSE:CPF)

Empowered Funds LLC boosted its stake in Central Pacific Financial Corp. (NYSE:CPF) by 5.2% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 86,251 shares of the financial services provider’s stock after purchasing an additional 4,288 shares during the period. Empowered Funds LLC owned about 0.32% of Central Pacific Financial worth $2,545,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. nVerses Capital LLC acquired a new stake in Central Pacific Financial in the 3rd quarter valued at approximately $50,000. CWM LLC increased its holdings in Central Pacific Financial by 221.9% in the 2nd quarter. CWM LLC now owns 1,957 shares of the financial services provider’s stock valued at $41,000 after purchasing an additional 1,349 shares during the last quarter. Allspring Global Investments Holdings LLC increased its holdings in Central Pacific Financial by 660.9% in the 1st 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 last quarter. USA Financial Formulas acquired a new stake in Central Pacific Financial in the 3rd quarter valued at approximately $81,000. Finally, SG Americas Securities LLC acquired a new stake in Central Pacific Financial in the 3rd quarter valued at approximately $183,000. Institutional investors and hedge funds own 88.42% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, StockNews.com downgraded shares of Central Pacific Financial from a “hold” rating to a “sell” rating in a report on Wednesday.

Central Pacific Financial Stock Performance

NYSE:CPF opened at $30.77 on Wednesday. The company has a fifty day simple moving average of $28.82 and a two-hundred day simple moving average of $25.11. The company has a market cap of $832.94 million, a price-to-earnings ratio of 14.65 and a beta of 1.14. 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 $32.21.

Central Pacific Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 29th will be paid a $0.26 dividend. The ex-dividend date is Friday, November 29th. This represents a $1.04 annualized dividend and a dividend yield of 3.38%. Central Pacific Financial’s dividend payout ratio (DPR) is 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.