Wellington Management Group LLP Sells 69,000 Shares of Central Pacific Financial Corp. (NYSE:CPF)

Wellington Management Group LLP cut its stake in shares of Central Pacific Financial Corp. (NYSE:CPF) by 14.1% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 419,900 shares of the financial services provider’s stock after selling 69,000 shares during the quarter. Wellington Management Group LLP owned approximately 1.55% of Central Pacific Financial worth $12,198,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the stock. Picton Mahoney Asset Management acquired a new position in shares of Central Pacific Financial in the fourth quarter worth approximately $30,000. SBI Securities Co. Ltd. bought a new position in Central Pacific Financial during the 4th quarter worth approximately $31,000. Quantbot Technologies LP acquired a new position in shares of Central Pacific Financial in the 4th quarter worth approximately $55,000. KLP Kapitalforvaltning AS bought a new stake in shares of Central Pacific Financial in the 4th quarter valued at $168,000. Finally, SG Americas Securities LLC increased its position in shares of Central Pacific Financial by 7.2% during the fourth quarter. SG Americas Securities LLC now owns 6,643 shares of the financial services provider’s stock worth $193,000 after buying an additional 448 shares during the period. Institutional investors 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 report on Thursday, March 20th.

Central Pacific Financial Stock Up 4.9 %

Shares of Central Pacific Financial stock opened at $25.26 on Thursday. The stock’s 50-day moving average is $27.71 and its 200 day moving average is $28.75. Central Pacific Financial Corp. has a one year low of $18.53 and a one year high of $33.25. The firm has a market cap of $684.95 million, a price-to-earnings ratio of 12.82 and a beta of 0.98. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.85 and a quick ratio of 0.85.

Central Pacific Financial (NYSE:CPF) last posted its quarterly earnings results on Wednesday, January 29th. The financial services provider reported $0.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.61 by $0.09. Central Pacific Financial had a return on equity of 12.03% and a net margin of 15.49%. Equities research analysts anticipate that Central Pacific Financial Corp. will post 2.75 EPS for the current year.

Central Pacific Financial Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Friday, February 28th were paid a $0.27 dividend. This is an increase from Central Pacific Financial’s previous quarterly dividend of $0.26. This represents a $1.08 annualized dividend and a yield of 4.28%. The ex-dividend date was Friday, February 28th. Central Pacific Financial’s payout ratio is 54.82%.

Central Pacific Financial 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.