Basswood Capital Management L.L.C. Invests $15.46 Million 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 the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 523,729 shares of the financial services provider’s stock, valued at approximately $15,455,000. Basswood Capital Management L.L.C. owned approximately 1.93% of Central Pacific Financial at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. PDT Partners LLC purchased a new position in shares of Central Pacific Financial during the 3rd quarter valued at $454,000. Martingale Asset Management L P boosted its stake in Central Pacific Financial by 4.6% during the third quarter. Martingale Asset Management L P now owns 90,226 shares of the financial services provider’s stock valued at $2,663,000 after buying an additional 3,945 shares during the period. FMR LLC grew its position in Central Pacific Financial by 24.4% during the third quarter. FMR LLC now owns 295,359 shares of the financial services provider’s stock worth $8,716,000 after buying an additional 58,009 shares in the last quarter. Algert Global LLC increased its stake in Central Pacific Financial by 1.4% in the 3rd quarter. Algert Global LLC now owns 41,936 shares of the financial services provider’s stock worth $1,238,000 after acquiring an additional 570 shares during the last quarter. Finally, Quest Partners LLC raised its holdings in shares of Central Pacific Financial by 144.4% in the 3rd quarter. Quest Partners LLC now owns 32,083 shares of the financial services provider’s stock valued at $947,000 after acquiring an additional 18,955 shares in the last quarter. Institutional investors own 88.42% of the company’s stock.

Central Pacific Financial Price Performance

Shares of NYSE:CPF opened at $31.92 on Monday. The company’s fifty day moving average price is $29.50 and its 200-day moving average price is $25.69. 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 firm has a market capitalization of $864.07 million, a price-to-earnings ratio of 15.20 and a beta of 1.14. Central Pacific Financial Corp. has a one year low of $17.33 and a one year high of $33.25.

Central Pacific Financial Dividend Announcement

The company also recently announced 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 dividend on an annualized basis and a yield of 3.26%. Central Pacific Financial’s dividend payout ratio is presently 49.52%.

Wall Street Analyst Weigh In

Separately, StockNews.com lowered Central Pacific Financial from a “hold” rating to a “sell” rating in a report on Wednesday, November 20th.

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.