Millennium Management LLC Has $1.60 Million Holdings in Central Pacific Financial Corp. (NYSE:CPF)

Millennium Management LLC trimmed its position in shares of Central Pacific Financial Corp. (NYSE:CPF) by 30.5% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 54,968 shares of the financial services provider’s stock after selling 24,125 shares during the period. Millennium Management LLC owned approximately 0.20% of Central Pacific Financial worth $1,597,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the company. Vanguard Group Inc. boosted its holdings in shares of Central Pacific Financial by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 2,124,330 shares of the financial services provider’s stock valued at $61,712,000 after acquiring an additional 20,196 shares in the last quarter. American Century Companies Inc. boosted its holdings in shares of Central Pacific Financial by 13.2% during the 4th quarter. American Century Companies Inc. now owns 659,482 shares of the financial services provider’s stock valued at $19,158,000 after acquiring an additional 77,032 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Central Pacific Financial by 0.6% during the fourth quarter. Geode Capital Management LLC now owns 644,390 shares of the financial services provider’s stock valued at $18,724,000 after purchasing an additional 4,021 shares in the last quarter. Renaissance Technologies LLC boosted its stake in shares of Central Pacific Financial by 11.6% during the fourth quarter. Renaissance Technologies LLC now owns 637,053 shares of the financial services provider’s stock valued at $18,506,000 after purchasing an additional 66,053 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its stake in shares of Central Pacific Financial by 36.6% during the fourth quarter. JPMorgan Chase & Co. now owns 589,609 shares of the financial services provider’s stock valued at $17,128,000 after purchasing an additional 158,111 shares in the last quarter. Institutional investors and hedge funds own 88.42% of the company’s stock.

Central Pacific Financial Price Performance

Shares of NYSE:CPF opened at $26.56 on Wednesday. The firm has a market cap of $716.56 million, a PE ratio of 13.48 and a beta of 1.02. The firm’s fifty day moving average is $26.08 and its 200-day moving average is $28.02. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.85 and a current ratio of 0.85. Central Pacific Financial Corp. has a 52 week low of $19.52 and a 52 week high of $33.25.

Central Pacific Financial (NYSE:CPF) last posted its quarterly earnings data on Wednesday, April 23rd. The financial services provider reported $0.65 EPS for the quarter, topping analysts’ consensus estimates of $0.63 by $0.02. The company had revenue of $68.80 million for the quarter, compared to analyst estimates of $68.93 million. Central Pacific Financial had a return on equity of 12.03% and a net margin of 15.49%. During the same period in the previous year, the firm earned $0.48 earnings per share. Sell-side analysts predict that Central Pacific Financial Corp. will post 2.75 earnings per share for the current year.

Central Pacific Financial Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Friday, May 30th will be issued a $0.27 dividend. The ex-dividend date is Friday, May 30th. This represents a $1.08 annualized dividend and a yield of 4.07%. Central Pacific Financial’s payout ratio is 50.47%.

Insider Activity

In related news, Director Agnes Catherine Ngo sold 3,333 shares of the company’s stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $27.71, for a total transaction of $92,357.43. Following the transaction, the director now directly owns 72,922 shares of the company’s stock, valued at approximately $2,020,668.62. This represents a 4.37% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.40% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen upgraded shares of Central Pacific Financial from a “sell” rating to a “hold” rating in a research report on Thursday, March 20th.

Central Pacific Financial Company 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.