Insider Selling: Central Pacific Financial Corp. (NYSE:CPF) Director Sells $92,357.43 in Stock

Central Pacific Financial Corp. (NYSE:CPF) Director Agnes Catherine Ngo sold 3,333 shares of the stock in a transaction dated 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 trade represents a 4.37% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Central Pacific Financial Stock Down 0.7%

Shares of NYSE CPF opened at $27.47 on Thursday. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.35. The business’s 50 day moving average is $26.14 and its two-hundred day moving average is $28.28. Central Pacific Financial Corp. has a 52-week low of $19.52 and a 52-week high of $33.25. The firm has a market cap of $741.03 million, a price-to-earnings ratio of 13.94 and a beta of 1.02.

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

Central Pacific Financial Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Friday, May 30th will be given a dividend of $0.27 per share. The ex-dividend date is Friday, May 30th. This represents a $1.08 annualized dividend and a dividend yield of 3.93%. Central Pacific Financial’s dividend payout ratio is presently 50.47%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Picton Mahoney Asset Management acquired a new stake in Central Pacific Financial during the 4th quarter worth approximately $30,000. SBI Securities Co. Ltd. acquired a new stake in shares of Central Pacific Financial in the fourth quarter valued at $31,000. Quantbot Technologies LP purchased a new position in Central Pacific Financial in the fourth quarter valued at $55,000. CWM LLC grew its stake in 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 in the last quarter. Finally, KLP Kapitalforvaltning AS acquired a new position in Central Pacific Financial during the 4th quarter worth $168,000. Hedge funds and other institutional investors own 88.42% of the company’s stock.

Analyst Ratings Changes

Separately, StockNews.com raised shares of Central Pacific Financial from a “sell” rating to a “hold” rating in a research note on Thursday, March 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.