Insider Selling: Central Pacific Financial Corp. (NYSE:CPF) Director Sells 2,765 Shares of Stock

Central Pacific Financial Corp. (NYSE:CPF) Director Paul K. Yonamine sold 2,765 shares of the stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $26.31, for a total value of $72,747.15. Following the transaction, the director now owns 19,711 shares of the company’s stock, valued at $518,596.41. This represents a 12.30% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Central Pacific Financial Stock Up 1.4%

Shares of NYSE CPF opened at $26.68 on Friday. The firm’s 50-day simple moving average is $26.05 and its 200 day simple moving average is $27.95. The company has a market cap of $719.75 million, a price-to-earnings ratio of 13.54 and a beta of 1.04. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.35. Central Pacific Financial Corp. has a 12-month low of $19.56 and a 12-month high of $33.25.

Central Pacific Financial (NYSE:CPF) last announced 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 firm had revenue of $68.80 million during 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 last year, the company earned $0.48 earnings per share. On average, research analysts expect that Central Pacific Financial Corp. will post 2.75 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 16th. Shareholders of record on Friday, May 30th will be issued a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a yield of 4.05%. The ex-dividend date of this dividend is Friday, May 30th. Central Pacific Financial’s dividend payout ratio (DPR) is currently 50.47%.

Analysts Set New Price Targets

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

Hedge Funds Weigh In On Central Pacific Financial

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CPF. Picton Mahoney Asset Management bought a new position in shares of Central Pacific Financial during the 4th quarter valued at about $30,000. SBI Securities Co. Ltd. bought a new stake in Central Pacific Financial in the 4th quarter valued at approximately $31,000. Quantbot Technologies LP acquired a new position in shares of Central Pacific Financial during the 4th quarter worth approximately $55,000. CKW Financial Group increased its position in shares of Central Pacific Financial by 40.9% during the 1st quarter. CKW Financial Group now owns 4,022 shares of the financial services provider’s stock worth $109,000 after purchasing an additional 1,168 shares during the last quarter. Finally, CWM LLC increased its position in shares of Central Pacific Financial by 17.5% during the 1st quarter. CWM LLC now owns 4,285 shares of the financial services provider’s stock worth $116,000 after purchasing an additional 639 shares during the last quarter. 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.