19,426 Shares in Central Pacific Financial Corp. (NYSE:CPF) Bought by Zacks Investment Management

Zacks Investment Management acquired a new position in shares of Central Pacific Financial Corp. (NYSE:CPF) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 19,426 shares of the financial services provider’s stock, valued at approximately $573,000. Zacks Investment Management owned approximately 0.07% of Central Pacific Financial at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of CPF. Dimensional Fund Advisors LP raised its holdings in Central Pacific Financial by 5.9% during the second quarter. Dimensional Fund Advisors LP now owns 1,404,043 shares of the financial services provider’s stock valued at $29,765,000 after buying an additional 77,868 shares in the last quarter. LSV Asset Management grew its position in shares of Central Pacific Financial by 10.7% in the second quarter. LSV Asset Management now owns 663,230 shares of the financial services provider’s stock valued at $14,060,000 after purchasing an additional 63,862 shares during the last quarter. Renaissance Technologies LLC grew its position in shares of Central Pacific Financial by 3.6% in the second quarter. Renaissance Technologies LLC now owns 550,400 shares of the financial services provider’s stock valued at $11,668,000 after purchasing an additional 19,247 shares during the last quarter. Acadian Asset Management LLC grew its position in shares of Central Pacific Financial by 16.6% in the second quarter. Acadian Asset Management LLC now owns 539,882 shares of the financial services provider’s stock valued at $11,442,000 after purchasing an additional 76,957 shares during the last quarter. Finally, Basswood Capital Management L.L.C. acquired a new stake in shares of Central Pacific Financial in the third quarter valued at about $15,455,000. 88.42% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

Central Pacific Financial Stock Up 0.6 %

CPF stock opened at $31.10 on Wednesday. Central Pacific Financial Corp. has a twelve month low of $18.00 and a twelve month high of $33.25. The company has a market cap of $841.88 million, a PE ratio of 14.81 and a beta of 1.18. The business’s 50-day simple moving average is $29.92 and its 200 day simple moving average is $26.23. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.29.

Central Pacific Financial Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 29th will be given a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 3.34%. The ex-dividend date of this dividend is Friday, November 29th. Central Pacific Financial’s dividend payout ratio (DPR) is presently 49.52%.

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.