AlphaQuest LLC Sells 15,398 Shares of Central Pacific Financial Corp. (NYSE:CPF)

AlphaQuest LLC trimmed its holdings in Central Pacific Financial Corp. (NYSE:CPF) by 48.0% in the fourth quarter, Holdings Channel reports. The institutional investor owned 16,685 shares of the financial services provider’s stock after selling 15,398 shares during the period. AlphaQuest LLC’s holdings in Central Pacific Financial were worth $485,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in CPF. Empowered Funds LLC raised its position in shares of Central Pacific Financial by 5.2% in the third quarter. Empowered Funds LLC now owns 86,251 shares of the financial services provider’s stock valued at $2,545,000 after buying an additional 4,288 shares in the last quarter. Quest Partners LLC raised its position in shares of Central Pacific Financial by 144.4% in the third quarter. Quest Partners LLC now owns 32,083 shares of the financial services provider’s stock valued at $947,000 after buying an additional 18,955 shares in the last quarter. Algert Global LLC raised its position in shares of Central Pacific Financial by 1.4% in the third quarter. Algert Global LLC now owns 41,936 shares of the financial services provider’s stock valued at $1,238,000 after buying an additional 570 shares in the last quarter. FMR LLC raised its position in shares of Central Pacific Financial by 24.4% in the third quarter. FMR LLC now owns 295,359 shares of the financial services provider’s stock valued at $8,716,000 after buying an additional 58,009 shares in the last quarter. Finally, Martingale Asset Management L P raised its position in shares of Central Pacific Financial by 4.6% in the third quarter. Martingale Asset Management L P now owns 90,226 shares of the financial services provider’s stock valued at $2,663,000 after buying an additional 3,945 shares in the last quarter. 88.42% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Separately, StockNews.com downgraded shares of Central Pacific Financial from a “hold” rating to a “sell” rating in a research report on Wednesday.

Central Pacific Financial Stock Up 0.5 %

Shares of CPF opened at $26.69 on Thursday. Central Pacific Financial Corp. has a one year low of $18.35 and a one year high of $33.25. The company has a market cap of $722.26 million, a P/E ratio of 13.55 and a beta of 1.17. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.85 and a quick ratio of 0.85. The firm has a 50 day simple moving average of $28.54 and a two-hundred day simple moving average of $28.97.

Central Pacific Financial (NYSE:CPF) last announced its quarterly earnings data 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%. Research analysts forecast that Central Pacific Financial Corp. will post 2.75 EPS for the current fiscal year.

Central Pacific Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Friday, February 28th will be given a dividend of $0.27 per share. 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 4.05%. The ex-dividend date is Friday, February 28th. Central Pacific Financial’s payout ratio is currently 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.