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 the stock in a transaction that occurred on Thursday, June 12th. The stock was sold at an average price of $26.99, for a total value of $89,957.67. Following the transaction, the director now directly owns 72,125 shares of the company's stock, valued at approximately $1,946,653.75. This trade represents a 4.42% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

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 2.3%

Shares of Central Pacific Financial stock traded down $0.62 during trading hours on Friday, reaching $26.63. 67,670 shares of the company's stock were exchanged, compared to its average volume of 206,916. The company has a fifty day moving average of $26.22 and a 200-day moving average of $27.82. Central Pacific Financial Corp. has a 52-week low of $19.56 and a 52-week high of $33.25. The firm has a market capitalization of $718.24 million, a price-to-earnings ratio of 13.51 and a beta of 1.04. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.35.

Central Pacific Financial (NYSE:CPF - Get Free Report) last issued its earnings results on Wednesday, April 23rd. The financial services provider reported $0.65 earnings per share for the quarter, beating analysts' consensus estimates of $0.63 by $0.02. The firm had revenue of $68.80 million for the quarter, compared to analysts' expectations 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 quarter last year, the firm earned $0.48 earnings per share. Sell-side analysts forecast that Central Pacific Financial Corp. will post 2.75 EPS for the current fiscal year.

Central Pacific Financial Dividend Announcement

The business 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 dividend of $0.27 per share. This represents a $1.08 annualized dividend and a yield of 4.06%. The ex-dividend date of this dividend is Friday, May 30th. Central Pacific Financial's dividend payout ratio is currently 50.47%.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in CPF. Nuveen LLC acquired a new stake in shares of Central Pacific Financial during the 1st quarter worth approximately $11,382,000. Millennium Management LLC increased its stake in shares of Central Pacific Financial by 433.6% during the first quarter. Millennium Management LLC now owns 293,335 shares of the financial services provider's stock valued at $7,932,000 after acquiring an additional 238,367 shares during the period. ExodusPoint Capital Management LP boosted its stake 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 valued at $8,066,000 after purchasing an additional 214,840 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in 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 valued at $17,128,000 after buying an additional 158,111 shares in the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in Central Pacific Financial during the fourth quarter worth about $4,412,000. Institutional investors and hedge funds own 88.42% of the company's stock.

Wall Street Analyst Weigh In

Separately, Wall Street Zen raised shares of Central Pacific Financial from a "sell" rating to a "hold" rating in a report 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.