Central Pacific Financial Corp. (NYSE:CPF) Director Sells $72,747.15 in Stock

Central Pacific Financial Corp. (NYSE:CPF - Get Free Report) Director Paul K. Yonamine sold 2,765 shares of the company's stock in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $26.31, for a total transaction of $72,747.15. Following the transaction, the director now directly owns 19,711 shares of the company's stock, valued at $518,596.41. This trade represents a 12.30% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.

Central Pacific Financial Trading Up 1.4%

Central Pacific Financial stock traded up $0.38 during midday trading on Friday, reaching $26.68. The stock had a trading volume of 220,382 shares, compared to its average volume of 205,830. The stock's 50-day simple moving average is $26.06 and its 200 day simple moving average is $27.98. Central Pacific Financial Corp. has a twelve month low of $19.56 and a twelve month high of $33.25. 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 stock has a market capitalization of $719.75 million, a PE ratio of 13.54 and a beta of 1.04.

Central Pacific Financial (NYSE:CPF - Get Free Report) last released its quarterly earnings data on Wednesday, April 23rd. The financial services provider reported $0.65 earnings per share 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 for the quarter, compared to analyst estimates of $68.93 million. During the same period in the previous year, the company posted $0.48 EPS. Analysts expect that Central Pacific Financial Corp. will post 2.75 EPS for the current year.

Central Pacific Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Friday, May 30th will be paid 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 yield of 4.05%. Central Pacific Financial's dividend payout ratio is currently 50.47%.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen raised shares of Central Pacific Financial from a "sell" rating to a "hold" rating in a research note on Thursday, March 20th.

Hedge Funds Weigh In On Central Pacific Financial

A number of hedge funds have recently made changes to their positions in the business. Rhumbline Advisers boosted its position in Central Pacific Financial by 8.1% during the 1st quarter. Rhumbline Advisers now owns 87,904 shares of the financial services provider's stock worth $2,377,000 after purchasing an additional 6,582 shares during the period. Twin Lakes Capital Management LLC lifted its stake in shares of Central Pacific Financial by 0.3% during the first quarter. Twin Lakes Capital Management LLC now owns 185,657 shares of the financial services provider's stock worth $5,020,000 after purchasing an additional 480 shares in the last quarter. Jane Street Group LLC boosted its position in shares of Central Pacific Financial by 42.3% in the first quarter. Jane Street Group LLC now owns 85,601 shares of the financial services provider's stock worth $2,315,000 after buying an additional 25,448 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of Central Pacific Financial by 9.2% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 89,160 shares of the financial services provider's stock valued at $2,411,000 after buying an additional 7,530 shares in the last quarter. Finally, Empowered Funds LLC raised its holdings in shares of Central Pacific Financial by 4.2% during the 1st quarter. Empowered Funds LLC now owns 94,421 shares of the financial services provider's stock valued at $2,553,000 after buying an additional 3,837 shares during the period. 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.

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