Wellington Management Group LLP Cuts Holdings in Central Pacific Financial Corp. (NYSE:CPF)

Wellington Management Group LLP trimmed its holdings in shares of Central Pacific Financial Corp. (NYSE:CPF) by 6.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 603,388 shares of the financial services provider’s stock after selling 44,922 shares during the quarter. Wellington Management Group LLP owned approximately 2.23% of Central Pacific Financial worth $11,875,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of CPF. Hsbc Holdings PLC increased its holdings in Central Pacific Financial by 40.7% during the third quarter. Hsbc Holdings PLC now owns 61,952 shares of the financial services provider’s stock valued at $1,023,000 after buying an additional 17,917 shares during the period. Algert Global LLC grew its holdings in Central Pacific Financial by 4.7% in the third quarter. Algert Global LLC now owns 44,659 shares of the financial services provider’s stock worth $745,000 after purchasing an additional 2,020 shares during the last quarter. O Shaughnessy Asset Management LLC grew its holdings in Central Pacific Financial by 5.1% in the third quarter. O Shaughnessy Asset Management LLC now owns 59,638 shares of the financial services provider’s stock worth $995,000 after purchasing an additional 2,919 shares during the last quarter. AQR Capital Management LLC grew its holdings in Central Pacific Financial by 0.3% in the third quarter. AQR Capital Management LLC now owns 281,271 shares of the financial services provider’s stock worth $4,692,000 after purchasing an additional 798 shares during the last quarter. Finally, Kennedy Capital Management LLC grew its holdings in Central Pacific Financial by 4.1% in the third quarter. Kennedy Capital Management LLC now owns 475,522 shares of the financial services provider’s stock worth $7,932,000 after purchasing an additional 18,862 shares during the last quarter. 88.42% of the stock is owned by hedge funds and other institutional investors.

Central Pacific Financial Price Performance

NYSE CPF opened at $20.72 on Thursday. The firm’s fifty day simple moving average is $20.44 and its two-hundred day simple moving average is $19.64. The company has a current ratio of 0.86, a quick ratio of 0.85 and a debt-to-equity ratio of 0.37. Central Pacific Financial Corp. has a 12-month low of $14.69 and a 12-month high of $22.00. The firm has a market capitalization of $560.27 million, a P/E ratio of 10.11 and a beta of 1.13.

Central Pacific Financial (NYSE:CPF) last released its quarterly earnings results on Wednesday, April 24th. The financial services provider reported $0.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.45 by $0.03. Central Pacific Financial had a net margin of 16.44% and a return on equity of 11.34%. The business had revenue of $61.43 million for the quarter, compared to analyst estimates of $60.78 million. Analysts forecast that Central Pacific Financial Corp. will post 2 EPS for the current fiscal year.

Central Pacific Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 17th. Stockholders of record on Friday, May 31st were issued a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a dividend yield of 5.02%. The ex-dividend date was Friday, May 31st. Central Pacific Financial’s dividend payout ratio (DPR) is presently 50.73%.

Insider Activity

In other news, Director Agnes Catherine Ngo sold 3,333 shares of the business’s stock in a transaction on Monday, May 13th. The shares were sold at an average price of $21.19, for a total transaction of $70,626.27. Following the sale, the director now directly owns 82,023 shares of the company’s stock, valued at $1,738,067.37. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 2.70% of the company’s stock.

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.