Amalgamated Bank Sells 641 Shares of Central Pacific Financial Corp. (NYSE:CPF)

Amalgamated Bank decreased its holdings in shares of Central Pacific Financial Corp. (NYSE:CPF) by 5.9% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 10,206 shares of the financial services provider’s stock after selling 641 shares during the period. Amalgamated Bank’s holdings in Central Pacific Financial were worth $201,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Victory Capital Management Inc. increased its stake in shares of Central Pacific Financial by 5.2% during the third quarter. Victory Capital Management Inc. now owns 33,200 shares of the financial services provider’s stock valued at $554,000 after purchasing an additional 1,650 shares in the last quarter. AQR Capital Management LLC increased its position in shares of Central Pacific Financial by 0.3% during the third quarter. AQR Capital Management LLC now owns 281,271 shares of the financial services provider’s stock valued at $4,692,000 after acquiring an additional 798 shares in the last quarter. New York State Teachers Retirement System increased its position in shares of Central Pacific Financial by 4.2% during the fourth quarter. New York State Teachers Retirement System now owns 25,075 shares of the financial services provider’s stock valued at $493,000 after acquiring an additional 1,022 shares in the last quarter. North Reef Capital Management LP bought a new stake in shares of Central Pacific Financial during the third quarter valued at approximately $465,000. Finally, Wellington Management Group LLP increased its position in shares of Central Pacific Financial by 79.0% during the third quarter. Wellington Management Group LLP now owns 648,310 shares of the financial services provider’s stock valued at $10,814,000 after acquiring an additional 286,110 shares in the last quarter. Institutional investors own 88.42% of the company’s stock.

Central Pacific Financial Price Performance

Shares of CPF opened at $21.00 on Thursday. The company has a market capitalization of $567.88 million, a P/E ratio of 10.24 and a beta of 1.12. The company has a quick ratio of 0.85, a current ratio of 0.86 and a debt-to-equity ratio of 0.37. The firm has a 50 day moving average of $19.86 and a 200 day moving average of $19.19. Central Pacific Financial Corp. has a twelve month low of $14.25 and a twelve month high of $22.00.

Central Pacific Financial (NYSE:CPF) last posted its earnings results on Wednesday, April 24th. The financial services provider reported $0.48 EPS for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $60.78 million. As a group, equities research analysts anticipate that Central Pacific Financial Corp. will post 2 earnings per share for the current fiscal year.

Central Pacific Financial Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 17th. Shareholders of record on Friday, May 31st will be given a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a yield of 4.95%. The ex-dividend date of this dividend is Friday, May 31st. Central Pacific Financial’s dividend payout ratio (DPR) is presently 50.73%.

Insiders Place Their Bets

In other Central Pacific Financial news, Director Agnes Catherine Ngo sold 3,333 shares of Central Pacific Financial stock in a transaction that occurred on Monday, May 13th. The shares were sold at an average price of $21.19, for a total value of $70,626.27. Following the completion of the sale, the director now owns 82,023 shares of the company’s stock, valued at approximately $1,738,067.37. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In the last quarter, insiders sold 9,999 shares of company stock valued at $198,347. Company insiders own 2.30% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Piper Sandler raised their price target on shares of Central Pacific Financial from $22.00 to $24.00 and gave the company an “overweight” rating in a research report on Thursday, February 1st.

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.