Central Pacific Financial (NYSE:CPF) Shares Down 3.4% – Time to Sell?

Central Pacific Financial Corp. (NYSE:CPF) shares traded down 3.4% during trading on Thursday . The company traded as low as $28.04 and last traded at $28.05. 52,114 shares traded hands during trading, a decline of 74% from the average session volume of 199,837 shares. The stock had previously closed at $29.05.

Analyst Upgrades and Downgrades

Separately, StockNews.com downgraded Central Pacific Financial from a “hold” rating to a “sell” rating in a research report on Tuesday, December 10th.

Central Pacific Financial Stock Down 4.7 %

The company has a debt-to-equity ratio of 0.29, a current ratio of 0.85 and a quick ratio of 0.85. The company has a fifty day moving average price of $30.12 and a 200 day moving average price of $27.22. The company has a market cap of $749.43 million, a PE ratio of 13.19 and a beta of 1.18.

Central Pacific Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Friday, November 29th were issued a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a dividend yield of 3.76%. The ex-dividend date was Friday, November 29th. Central Pacific Financial’s payout ratio is 49.52%.

Institutional Investors Weigh In On Central Pacific Financial

Several hedge funds have recently added to or reduced their stakes in the company. Acadian Asset Management LLC raised its stake in shares of Central Pacific Financial by 16.6% during the second quarter. Acadian Asset Management LLC now owns 539,882 shares of the financial services provider’s stock worth $11,442,000 after acquiring an additional 76,957 shares in the last quarter. LSV Asset Management lifted its stake in 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 worth $14,060,000 after purchasing an additional 63,862 shares during the last quarter. Texas Permanent School Fund Corp boosted its position in Central Pacific Financial by 44.7% during the second quarter. Texas Permanent School Fund Corp now owns 34,252 shares of the financial services provider’s stock valued at $726,000 after buying an additional 10,584 shares during the period. American Century Companies Inc. grew its stake in shares of Central Pacific Financial by 17.8% during the second quarter. American Century Companies Inc. now owns 511,590 shares of the financial services provider’s stock valued at $10,846,000 after buying an additional 77,265 shares during the last quarter. Finally, WINTON GROUP Ltd increased its holdings in shares of Central Pacific Financial by 14.6% in the second quarter. WINTON GROUP Ltd now owns 53,148 shares of the financial services provider’s stock worth $1,127,000 after buying an additional 6,757 shares during the period. Institutional investors own 88.42% of the company’s stock.

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.