Cramer Rosenthal Mcglynn LLC Has $10.89 Million Stock Holdings in Central Pacific Financial Corp. (NYSE:CPF)

Cramer Rosenthal Mcglynn LLC trimmed its position in Central Pacific Financial Corp. (NYSE:CPF) by 3.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 374,961 shares of the financial services provider’s stock after selling 12,472 shares during the quarter. Cramer Rosenthal Mcglynn LLC’s holdings in Central Pacific Financial were worth $10,893,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in CPF. Alpha DNA Investment Management LLC purchased a new position in Central Pacific Financial during the 4th quarter worth approximately $398,000. CANADA LIFE ASSURANCE Co boosted its position in shares of Central Pacific Financial by 5.8% in the fourth quarter. CANADA LIFE ASSURANCE Co now owns 29,414 shares of the financial services provider’s stock worth $854,000 after buying an additional 1,604 shares during the period. Barclays PLC grew its holdings in shares of Central Pacific Financial by 11.4% during the fourth quarter. Barclays PLC now owns 65,160 shares of the financial services provider’s stock valued at $1,893,000 after buying an additional 6,667 shares in the last quarter. Sterling Capital Management LLC raised its position in Central Pacific Financial by 4.4% during the fourth quarter. Sterling Capital Management LLC now owns 17,969 shares of the financial services provider’s stock valued at $522,000 after buying an additional 762 shares during the period. Finally, Raymond James Financial Inc. purchased a new stake in Central Pacific Financial in the 4th quarter worth about $1,712,000. Hedge funds and other institutional investors own 88.42% of the company’s stock.

Analyst Ratings Changes

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

Central Pacific Financial Stock Up 0.8 %

Central Pacific Financial stock opened at $25.11 on Friday. The firm’s 50 day moving average price is $27.07 and its two-hundred day moving average price is $28.58. The firm has a market cap of $680.88 million, a PE ratio of 12.75 and a beta of 0.98. Central Pacific Financial Corp. has a twelve month low of $18.61 and a twelve month high of $33.25. 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 (NYSE:CPF) last released its quarterly earnings data on Wednesday, January 29th. The financial services provider reported $0.70 earnings per share (EPS) for the quarter, beating 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%. On average, research analysts predict that Central Pacific Financial Corp. will post 2.75 EPS for the current fiscal year.

Central Pacific Financial Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Friday, February 28th were issued a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a dividend yield of 4.30%. This is a positive change from Central Pacific Financial’s previous quarterly dividend of $0.26. The ex-dividend date was Friday, February 28th. Central Pacific Financial’s payout ratio is currently 54.82%.

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.