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

Central Pacific Financial Corp. (NYSE:CPF - Get Free Report) Director Agnes Catherine Ngo sold 3,333 shares of the firm's stock in a transaction on Monday, May 12th. The shares were 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 directly owns 72,922 shares in the company, valued at approximately $2,020,668.62. This represents a 4.37% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Central Pacific Financial Stock Up 4.2%

Central Pacific Financial stock traded up $1.12 during midday trading on Monday, hitting $27.82. 156,167 shares of the company were exchanged, compared to its average volume of 203,807. The company has a market cap of $750.47 million, a PE ratio of 14.12 and a beta of 1.02. Central Pacific Financial Corp. has a fifty-two week low of $19.52 and a fifty-two week high of $33.25. The company's fifty day moving average price is $26.12 and its 200-day moving average price is $28.29. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.85 and a quick ratio of 0.85.

Central Pacific Financial (NYSE:CPF - Get Free Report) last posted its earnings results 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 business had revenue of $68.80 million for the quarter, compared to analysts' expectations 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 period in the previous year, the company 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 company also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Friday, May 30th will be issued a $0.27 dividend. The ex-dividend date of this dividend is Friday, May 30th. This represents a $1.08 dividend on an annualized basis and a yield of 3.88%. Central Pacific Financial's dividend payout ratio is currently 50.47%.

Analyst Ratings Changes

Separately, StockNews.com raised Central Pacific Financial from a "sell" rating to a "hold" rating in a research report on Thursday, March 20th.

Institutional Trading of Central Pacific Financial

A number of hedge funds and other institutional investors have recently modified their holdings of the business. ExodusPoint Capital Management LP increased its holdings in Central Pacific Financial by 342.0% during the 4th quarter. ExodusPoint Capital Management LP now owns 277,664 shares of the financial services provider's stock worth $8,066,000 after purchasing an additional 214,840 shares during the last quarter. JPMorgan Chase & Co. lifted its position in shares of Central Pacific Financial by 36.6% during the fourth quarter. JPMorgan Chase & Co. now owns 589,609 shares of the financial services provider's stock worth $17,128,000 after purchasing an additional 158,111 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in Central Pacific Financial during the fourth quarter valued at approximately $4,412,000. North Reef Capital Management LP grew its position in shares of Central Pacific Financial by 264.6% in the 4th quarter. North Reef Capital Management LP now owns 188,558 shares of the financial services provider's stock worth $5,478,000 after acquiring an additional 136,843 shares in the last quarter. Finally, Deutsche Bank AG lifted its stake in Central Pacific Financial by 389.7% during the first quarter. Deutsche Bank AG now owns 132,008 shares of the financial services provider's stock worth $3,569,000 after purchasing an additional 105,051 shares during the last quarter. 88.42% of the stock is owned by hedge funds and other institutional investors.

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.

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