Central Pacific Financial Corp. (NYSE:CPF) Shares Sold by Brandywine Global Investment Management LLC

Brandywine Global Investment Management LLC lessened its holdings in Central Pacific Financial Corp. (NYSE:CPF) by 83.9% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 17,586 shares of the financial services provider’s stock after selling 91,498 shares during the period. Brandywine Global Investment Management LLC’s holdings in Central Pacific Financial were worth $511,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Picton Mahoney Asset Management purchased a new position in Central Pacific Financial in the fourth quarter valued at about $30,000. SBI Securities Co. Ltd. acquired a new stake in shares of Central Pacific Financial in the fourth quarter valued at about $31,000. Quarry LP purchased a new stake in shares of Central Pacific Financial during the 3rd quarter valued at about $53,000. Quantbot Technologies LP acquired a new position in Central Pacific Financial during the 4th quarter worth approximately $55,000. Finally, KLP Kapitalforvaltning AS purchased a new position in Central Pacific Financial in the 4th quarter worth approximately $168,000. Institutional investors and hedge funds own 88.42% of the company’s stock.

Central Pacific Financial Trading Down 8.8 %

Shares of CPF opened at $24.89 on Friday. 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 stock has a 50-day moving average price of $28.24 and a 200 day moving average price of $28.91. The company has a market capitalization of $674.92 million, a P/E ratio of 12.63 and a beta of 1.17.

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

Central Pacific Financial Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Friday, February 28th were given a $0.27 dividend. The ex-dividend date was Friday, February 28th. This represents a $1.08 annualized dividend and a dividend yield of 4.34%. This is an increase from Central Pacific Financial’s previous quarterly dividend of $0.26. Central Pacific Financial’s payout ratio is presently 54.82%.

Wall Street Analysts Forecast Growth

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.

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.