Central Pacific Financial Corp. (NYSE:CPF) Position Reduced by Corebridge Financial Inc.

Corebridge Financial Inc. lowered its stake in Central Pacific Financial Corp. (NYSE:CPF) by 7.2% in the 4th quarter, Holdings Channel.com reports. The firm owned 14,219 shares of the financial services provider’s stock after selling 1,109 shares during the period. Corebridge Financial Inc.’s holdings in Central Pacific Financial were worth $413,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of CPF. Picton Mahoney Asset Management bought a new stake in Central Pacific Financial in the fourth quarter valued at about $30,000. SBI Securities Co. Ltd. bought a new stake in shares of Central Pacific Financial in the 4th quarter valued at approximately $31,000. Quantbot Technologies LP acquired a new stake in shares of Central Pacific Financial during the 4th quarter valued at approximately $55,000. KLP Kapitalforvaltning AS bought a new position in Central Pacific Financial during the fourth quarter worth $168,000. Finally, SG Americas Securities LLC boosted its holdings in Central Pacific Financial by 7.2% in the fourth quarter. SG Americas Securities LLC now owns 6,643 shares of the financial services provider’s stock worth $193,000 after purchasing an additional 448 shares during the period. Institutional investors and hedge funds own 88.42% of the company’s stock.

Analysts Set New Price Targets

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

Central Pacific Financial Stock Up 4.9 %

Central Pacific Financial stock opened at $25.26 on Thursday. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.85 and a current ratio of 0.85. Central Pacific Financial Corp. has a one year low of $18.53 and a one year high of $33.25. The company has a 50-day simple moving average of $27.71 and a 200-day simple moving average of $28.75. The firm has a market capitalization of $684.95 million, a P/E ratio of 12.82 and a beta of 0.98.

Central Pacific Financial (NYSE:CPF) last released its earnings results on Wednesday, January 29th. The financial services provider reported $0.70 EPS for the quarter, beating the consensus estimate of $0.61 by $0.09. Central Pacific Financial had a net margin of 15.49% and a return on equity of 12.03%. As a group, equities analysts expect that Central Pacific Financial Corp. will post 2.75 earnings per share for the current year.

Central Pacific Financial Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Friday, February 28th were given a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a yield of 4.28%. This is an increase from Central Pacific Financial’s previous quarterly dividend of $0.26. The ex-dividend date was Friday, February 28th. Central Pacific Financial’s dividend payout ratio 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.