Victory Capital Management Inc. lowered its holdings in Central Pacific Financial Corp. (NYSE:CPF) by 1.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,084,023 shares of the financial services provider’s stock after selling 13,596 shares during the quarter. Victory Capital Management Inc. owned about 3.61% of Central Pacific Financial worth $32,336,000 as of its most recent filing with the SEC.
Other institutional investors have also bought and sold shares of the company. QS Investors LLC boosted its stake in Central Pacific Financial by 4.7% in the second quarter. QS Investors LLC now owns 4,532 shares of the financial services provider’s stock worth $143,000 after purchasing an additional 203 shares in the last quarter. Verition Fund Management LLC acquired a new position in Central Pacific Financial in the second quarter worth $211,000. BlueCrest Capital Management Ltd acquired a new position in Central Pacific Financial in the second quarter worth $253,000. Cubist Systematic Strategies LLC acquired a new position in shares of Central Pacific Financial during the second quarter valued at $291,000. Finally, OxFORD Asset Management LLP acquired a new position in shares of Central Pacific Financial during the second quarter valued at $292,000. 92.56% of the stock is currently owned by institutional investors.
Central Pacific Financial Corp. (NYSE CPF) opened at $28.76 on Friday. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.77 and a current ratio of 0.77. Central Pacific Financial Corp. has a one year low of $27.34 and a one year high of $33.55. The stock has a market capitalization of $863.49, a price-to-earnings ratio of 18.09 and a beta of 1.14.
Central Pacific Financial declared that its Board of Directors has initiated a stock repurchase plan on Wednesday, November 15th that permits the company to buyback $50.00 million in outstanding shares. This buyback authorization permits the financial services provider to reacquire shares of its stock through open market purchases. Shares buyback plans are usually a sign that the company’s leadership believes its stock is undervalued.
The company also recently declared a quarterly dividend, which will be paid on Thursday, March 15th. Stockholders of record on Wednesday, February 28th will be paid a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a dividend yield of 2.64%. The ex-dividend date is Tuesday, February 27th. This is a positive change from Central Pacific Financial’s previous quarterly dividend of $0.18. Central Pacific Financial’s dividend payout ratio is 53.73%.
In other news, Director Colbert M. Matsumoto purchased 1,000 shares of the business’s stock in a transaction dated Tuesday, February 6th. The shares were acquired at an average price of $28.61 per share, with a total value of $28,610.00. Following the completion of the purchase, the director now directly owns 2,375 shares of the company’s stock, valued at approximately $67,948.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have bought 2,000 shares of company stock worth $58,434 in the last ninety days. 4.10% of the stock is currently owned by insiders.
Separately, Zacks Investment Research lowered Central Pacific Financial from a “hold” rating to a “sell” rating in a research note on Monday, December 18th.
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Central Pacific Financial Company Profile
Central Pacific Financial Corp. is the bank holding company of Central Pacific Bank (the Bank). The Company’s segments include Banking Operations, Treasury and All Others. The Banking Operations segment includes construction and real estate development lending, commercial lending, residential mortgage lending, consumer lending, trust services, retail brokerage services and its retail branch offices, which provide a range of deposit and loan products, as well as various other banking services.
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