Assenagon Asset Management S.A. Sells 202,535 Shares of Central Pacific Financial Corp. (NYSE:CPF)

Assenagon Asset Management S.A. trimmed its position in shares of Central Pacific Financial Corp. (NYSE:CPF) by 44.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 253,597 shares of the financial services provider’s stock after selling 202,535 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Central Pacific Financial were worth $7,367,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Algert Global LLC increased its holdings in Central Pacific Financial by 1.4% during the third quarter. Algert Global LLC now owns 41,936 shares of the financial services provider’s stock worth $1,238,000 after buying an additional 570 shares during the last quarter. Diversified Trust Co boosted its position in shares of Central Pacific Financial by 9.8% in the fourth quarter. Diversified Trust Co now owns 8,787 shares of the financial services provider’s stock valued at $255,000 after acquiring an additional 783 shares during the period. CWM LLC boosted its holdings in Central Pacific Financial by 77.7% in the 3rd quarter. CWM LLC now owns 3,477 shares of the financial services provider’s stock valued at $103,000 after purchasing an additional 1,520 shares during the period. nVerses Capital LLC bought a new stake in Central Pacific Financial during the third quarter valued at $50,000. Finally, Mirae Asset Global Investments Co. Ltd. grew its position in Central Pacific Financial by 12.0% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 16,490 shares of the financial services provider’s stock worth $458,000 after buying an additional 1,769 shares in the last quarter. 88.42% of the stock is currently owned by hedge funds and other institutional investors.

Central Pacific Financial Stock Up 1.5 %

CPF opened at $28.59 on Monday. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.29. The business’s fifty day simple moving average is $29.89 and its 200 day simple moving average is $27.85. Central Pacific Financial Corp. has a 52 week low of $18.00 and a 52 week high of $33.25. The stock has a market cap of $773.79 million, a PE ratio of 13.61 and a beta of 1.19.

Central Pacific Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Friday, November 29th were given a $0.26 dividend. The ex-dividend date of this dividend was Friday, November 29th. This represents a $1.04 dividend on an annualized basis and a yield of 3.64%. Central Pacific Financial’s payout ratio is 49.52%.

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 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.