Central Pacific Financial (NYSE:CPF) Shares Down 4.7% - Time to Sell?

Central Pacific Financial Corp. (NYSE:CPF - Get Free Report)'s share price dropped 4.7% on Thursday . The company traded as low as $26.07 and last traded at $26.07. Approximately 3,063 shares changed hands during trading, a decline of 99% from the average daily volume of 206,220 shares. The stock had previously closed at $27.35.

Analyst Upgrades and Downgrades

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.

Central Pacific Financial Stock Down 0.6%

The firm's fifty day moving average is $26.22 and its 200 day moving average is $27.82. The firm has a market cap of $733.48 million, a P/E ratio of 13.80 and a beta of 1.04. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.85 and a current ratio of 0.85.

Central Pacific Financial (NYSE:CPF - Get Free Report) last released its earnings results on Wednesday, April 23rd. The financial services provider reported $0.65 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.63 by $0.02. Central Pacific Financial had a net margin of 15.49% and a return on equity of 12.03%. The company had revenue of $68.80 million for the quarter, compared to the consensus estimate of $68.93 million. During the same quarter in the previous year, the company earned $0.48 EPS. As a group, equities research analysts anticipate that Central Pacific Financial Corp. will post 2.75 earnings per share for the current fiscal year.

Central Pacific Financial Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Friday, May 30th will be issued a $0.27 dividend. This represents a $1.08 annualized dividend and a yield of 3.97%. The ex-dividend date of this dividend is Friday, May 30th. Central Pacific Financial's dividend payout ratio (DPR) is currently 50.47%.

Insider Buying and Selling at Central Pacific Financial

In other Central Pacific Financial news, Director Agnes Catherine Ngo sold 3,333 shares of Central Pacific Financial stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $27.71, for a total value of $92,357.43. Following the transaction, the director now owns 72,922 shares in the company, valued at $2,020,668.62. The trade was a 4.37% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 value of $72,747.15. Following the transaction, the director now directly owns 19,711 shares of the company's stock, valued at approximately $518,596.41. The trade was a 12.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 9,431 shares of company stock worth $255,062. Company insiders own 2.40% of the company's stock.

Institutional Investors Weigh In On Central Pacific Financial

A number of hedge funds have recently bought and sold shares of CPF. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Central Pacific Financial by 18.8% in the 4th 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 last quarter. Empowered Funds LLC grew its position in Central Pacific Financial by 5.0% during the fourth quarter. Empowered Funds LLC now owns 90,584 shares of the financial services provider's stock valued at $2,631,000 after acquiring an additional 4,333 shares during the period. New York State Teachers Retirement System boosted its position 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 worth $781,000 after buying an additional 2,617 shares during the period. Principal Financial Group Inc. lifted its stake 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 worth $4,417,000 after acquiring an additional 5,978 shares in the last quarter. Finally, Y Intercept Hong Kong Ltd acquired a new stake in shares of Central Pacific Financial during the fourth quarter worth approximately $413,000. Institutional investors and hedge funds own 88.42% of the company's stock.

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.