Insider Selling: Central Pacific Financial Corp. (NYSE:CPF) Director Sells 3,333 Shares of Stock

Central Pacific Financial Corp. (NYSE:CPF - Get Free Report) Director Agnes Catherine Ngo sold 3,333 shares of Central Pacific Financial stock in a transaction dated Thursday, June 12th. The stock was sold at an average price of $26.99, for a total value of $89,957.67. Following the completion of the transaction, the director now owns 72,125 shares of the company's stock, valued at approximately $1,946,653.75. This represents a 4.42% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Agnes Catherine Ngo also recently made the following trade(s):

• On Monday, May 12th, Agnes Catherine Ngo sold 3,333 shares of Central Pacific Financial stock. The stock was sold at an average price of $27.71, for a total value of $92,357.43.

Central Pacific Financial Trading Down 3.0%

Shares of NYSE:CPF traded down $0.82 during trading hours on Friday, hitting $26.42. 298,045 shares of the company's stock traded hands, compared to its average volume of 208,795. Central Pacific Financial Corp. has a 1 year low of $19.68 and a 1 year high of $33.25. The business has a fifty day moving average price of $26.27 and a 200-day moving average price of $27.75. The firm has a market capitalization of $712.71 million, a P/E ratio of 13.41 and a beta of 1.04. 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 announced its earnings results 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 business had revenue of $68.80 million during the quarter, compared to analyst estimates of $68.93 million. During the same quarter in the previous year, the business earned $0.48 earnings per share. Equities analysts expect that Central Pacific Financial Corp. will post 2.75 earnings per share for the current year.

Central Pacific Financial Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Friday, May 30th will be given a dividend of $0.27 per share. The ex-dividend date of this dividend is Friday, May 30th. This represents a $1.08 annualized dividend and a dividend yield of 4.09%. Central Pacific Financial's dividend payout ratio (DPR) is presently 50.47%.

Wall Street Analyst Weigh In

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

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the business. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of Central Pacific Financial by 18.8% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 19,588 shares of the financial services provider's stock valued at $564,000 after purchasing an additional 3,098 shares during the period. Empowered Funds LLC boosted its holdings in shares of Central Pacific Financial by 5.0% in the fourth quarter. Empowered Funds LLC now owns 90,584 shares of the financial services provider's stock valued at $2,631,000 after purchasing an additional 4,333 shares during the period. New York State Teachers Retirement System boosted its holdings in shares of Central Pacific Financial by 10.8% in the fourth quarter. New York State Teachers Retirement System now owns 26,892 shares of the financial services provider's stock valued at $781,000 after purchasing an additional 2,617 shares during the period. Principal Financial Group Inc. boosted its holdings in shares of Central Pacific Financial by 4.1% in the fourth quarter. Principal Financial Group Inc. now owns 152,043 shares of the financial services provider's stock valued at $4,417,000 after purchasing an additional 5,978 shares during the period. Finally, Y Intercept Hong Kong Ltd purchased a new stake in shares of Central Pacific Financial in the fourth quarter valued at approximately $413,000. Hedge funds and other 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.