Basswood Capital Management L.L.C. Makes New Investment in Central Pacific Financial Corp. (NYSE:CPF)

Basswood Capital Management L.L.C. acquired a new stake in shares of Central Pacific Financial Corp. (NYSE:CPF) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 523,729 shares of the financial services provider’s stock, valued at approximately $15,455,000.

Other institutional investors also recently modified their holdings of the company. Algert Global LLC increased its holdings in Central Pacific Financial by 1.4% during the 3rd quarter. Algert Global LLC now owns 41,936 shares of the financial services provider’s stock valued at $1,238,000 after purchasing an additional 570 shares during the period. Panagora Asset Management Inc. raised its holdings in shares of Central Pacific Financial by 0.6% during the second quarter. Panagora Asset Management Inc. now owns 152,349 shares of the financial services provider’s stock valued at $3,230,000 after acquiring an additional 949 shares in the last quarter. Price T Rowe Associates Inc. MD raised its holdings in shares of Central Pacific Financial by 4.2% during the first quarter. Price T Rowe Associates Inc. MD now owns 25,507 shares of the financial services provider’s stock valued at $504,000 after acquiring an additional 1,020 shares in the last quarter. CWM LLC boosted its holdings in Central Pacific Financial by 221.9% in the second quarter. CWM LLC now owns 1,957 shares of the financial services provider’s stock valued at $41,000 after acquiring an additional 1,349 shares in the last quarter. Finally, nVerses Capital LLC bought a new stake in Central Pacific Financial in the third quarter valued at $50,000. 88.42% of the stock is currently owned by hedge funds and other institutional investors.

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, November 20th.

Central Pacific Financial Stock Performance

Central Pacific Financial stock opened at $31.92 on Monday. The stock has a market cap of $864.07 million, a price-to-earnings ratio of 15.20 and a beta of 1.14. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.85 and a current ratio of 0.85. The stock’s 50 day simple moving average is $29.50 and its two-hundred day simple moving average is $25.69. Central Pacific Financial Corp. has a fifty-two week low of $17.33 and a fifty-two week high of $33.25.

Central Pacific Financial Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 29th will be paid a $0.26 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $1.04 annualized dividend and a yield of 3.26%. Central Pacific Financial’s payout ratio is 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.