Central Pacific Financial Corp. (NYSE:CPF) Director Agnes Catherine Ngo Sells 3,333 Shares

Central Pacific Financial Corp. (NYSE:CPF) Director Agnes Catherine Ngo sold 3,333 shares of Central Pacific Financial stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $27.71, for a total transaction of $92,357.43. Following the completion of the transaction, the director now owns 72,922 shares in the company, valued at approximately $2,020,668.62. This trade represents a 4.37% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

Central Pacific Financial Trading Down 0.5%

Central Pacific Financial stock opened at $27.61 on Wednesday. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.85 and a current ratio of 0.85. The firm has a market cap of $744.81 million, a price-to-earnings ratio of 14.02 and a beta of 1.02. Central Pacific Financial Corp. has a 1 year low of $19.52 and a 1 year high of $33.25. The firm’s 50 day moving average price is $26.13 and its two-hundred day moving average price is $28.28.

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

Central Pacific Financial Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Friday, May 30th will be given a $0.27 dividend. The ex-dividend date of this dividend is Friday, May 30th. This represents a $1.08 annualized dividend and a yield of 3.91%. Central Pacific Financial’s dividend payout ratio (DPR) is 50.47%.

Hedge Funds Weigh In On Central Pacific Financial

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Picton Mahoney Asset Management acquired a new position in Central Pacific Financial in the 4th quarter worth approximately $30,000. SBI Securities Co. Ltd. acquired a new position in Central Pacific Financial in the 4th quarter worth approximately $31,000. Quantbot Technologies LP acquired a new position in Central Pacific Financial in the 4th quarter worth approximately $55,000. CWM LLC boosted its stake in Central Pacific Financial by 17.5% in 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 period. Finally, KLP Kapitalforvaltning AS acquired a new position in Central Pacific Financial in the 4th quarter worth approximately $168,000. Institutional investors and hedge funds own 88.42% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded shares of Central Pacific Financial from a “sell” rating to a “hold” rating in a research report on Thursday, March 20th.

Central Pacific Financial Company 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.