Principal Financial Group Inc. Lowers Position in Central Pacific Financial Corp. (NYSE:CPF)

Principal Financial Group Inc. cut its position in Central Pacific Financial Corp. (NYSE:CPF) by 3.9% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 146,065 shares of the financial services provider’s stock after selling 5,870 shares during the quarter. Principal Financial Group Inc. owned 0.54% of Central Pacific Financial worth $4,310,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also made changes to their positions in the company. CWM LLC boosted its position in Central Pacific Financial by 221.9% during the 2nd quarter. CWM LLC now owns 1,957 shares of the financial services provider’s stock valued at $41,000 after purchasing an additional 1,349 shares during the period. nVerses Capital LLC bought a new position in shares of Central Pacific Financial during the 3rd quarter valued at about $50,000. USA Financial Formulas acquired a new position in shares of Central Pacific Financial in the 3rd quarter worth $81,000. SG Americas Securities LLC acquired a new position in shares of Central Pacific Financial in the 3rd quarter valued at $183,000. Finally, Cadinha & Co. LLC acquired a new stake in Central Pacific Financial during the 3rd quarter worth about $225,000. Institutional investors and hedge funds own 88.42% of the company’s stock.

Central Pacific Financial Price Performance

Shares of NYSE:CPF opened at $31.37 on Friday. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.29. Central Pacific Financial Corp. has a 1 year low of $16.95 and a 1 year high of $32.21. The business has a fifty day simple moving average of $29.00 and a 200 day simple moving average of $25.19. The firm has a market cap of $849.19 million, a price-to-earnings ratio of 14.94 and a beta of 1.14.

Central Pacific Financial Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 29th will be issued a dividend of $0.26 per share. The ex-dividend date is Friday, November 29th. This represents a $1.04 annualized dividend and a yield of 3.32%. Central Pacific Financial’s dividend payout ratio (DPR) is currently 49.52%.

Wall Street Analyst Weigh In

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

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.