Alps Advisors Inc. lowered its position in shares of Central Pacific Financial Corp. (NYSE:CPF – Get Rating) by 87.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 12,463 shares of the financial services provider’s stock after selling 90,878 shares during the period. Alps Advisors Inc.’s holdings in Central Pacific Financial were worth $267,000 at the end of the most recent reporting period.
Several other hedge funds have also recently added to or reduced their stakes in the company. TD Asset Management Inc. lifted its stake in Central Pacific Financial by 5.8% during the first quarter. TD Asset Management Inc. now owns 9,100 shares of the financial services provider’s stock worth $254,000 after purchasing an additional 500 shares during the last quarter. Mutual of America Capital Management LLC lifted its stake in shares of Central Pacific Financial by 15.8% in the 2nd quarter. Mutual of America Capital Management LLC now owns 4,627 shares of the financial services provider’s stock valued at $99,000 after acquiring an additional 633 shares during the last quarter. Campbell & CO Investment Adviser LLC lifted its stake in shares of Central Pacific Financial by 6.7% in the 1st quarter. Campbell & CO Investment Adviser LLC now owns 12,372 shares of the financial services provider’s stock valued at $345,000 after acquiring an additional 772 shares during the last quarter. Citigroup Inc. lifted its stake in shares of Central Pacific Financial by 3.0% in the 1st quarter. Citigroup Inc. now owns 27,767 shares of the financial services provider’s stock valued at $775,000 after acquiring an additional 803 shares during the last quarter. Finally, Captrust Financial Advisors lifted its stake in shares of Central Pacific Financial by 127.6% in the 1st quarter. Captrust Financial Advisors now owns 1,853 shares of the financial services provider’s stock valued at $52,000 after acquiring an additional 1,039 shares during the last quarter. Institutional investors own 90.30% of the company’s stock.
Insiders Place Their Bets
In other news, COO Arnold D. Martines bought 5,000 shares of Central Pacific Financial stock in a transaction on Thursday, October 27th. The shares were purchased at an average price of $19.44 per share, for a total transaction of $97,200.00. Following the acquisition, the chief operating officer now owns 5,274 shares of the company’s stock, valued at $102,526.56. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 2.80% of the company’s stock.
Central Pacific Financial Trading Up 0.5 %
Central Pacific Financial Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 15th. Shareholders of record on Wednesday, November 30th will be given a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 4.94%. The ex-dividend date of this dividend is Tuesday, November 29th. Central Pacific Financial’s payout ratio is 37.82%.
Analyst Upgrades and Downgrades
A number of research firms have recently weighed in on CPF. StockNews.com began coverage on Central Pacific Financial in a research note on Wednesday, October 12th. They issued a “hold” rating for the company. Piper Sandler lowered their target price on Central Pacific Financial to $24.00 in a research note on Friday, September 30th. Compass Point lowered their price target on Central Pacific Financial to $22.00 in a research report on Thursday, October 27th. Finally, Raymond James lowered Central Pacific Financial from an “outperform” rating to a “market perform” rating in a research report on Thursday, October 6th.
About Central Pacific Financial
Central Pacific Financial Corp. operates as the holding company for Central Pacific Bank that provides commercial banking products and services to businesses, professionals, and individuals in the United States. It offers various deposit products and services, including personal and business checking and savings accounts, money market accounts, and time certificates of deposit.
- Get a free copy of the StockNews.com research report on Central Pacific Financial (CPF)
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