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

Central Pacific Financial Corp. (NYSE:CPF) Director Agnes Catherine Ngo sold 3,333 shares of the stock in a transaction dated Friday, April 12th. The stock was sold at an average price of $19.00, for a total value of $63,327.00. Following the sale, the director now directly owns 85,356 shares in the company, valued at approximately $1,621,764. The sale was disclosed in a filing with the SEC, which is accessible through this link.

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

• On Tuesday, March 12th, Agnes Catherine Ngo sold 3,333 shares of Central Pacific Financial stock. The shares were sold at an average price of $19.32, for a total value of $64,393.56.
• On Monday, February 12th, Agnes Catherine Ngo sold 3,333 shares of Central Pacific Financial stock. The shares were sold at an average price of $19.45, for a total value of $64,826.85.

Central Pacific Financial Stock Performance

Shares of NYSE CPF opened at $19.04 on Friday. The stock has a market cap of $515.03 million, a price-to-earnings ratio of 8.77 and a beta of 1.15. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.31. Central Pacific Financial Corp. has a 1-year low of $13.22 and a 1-year high of $22.00. The stock’s 50-day moving average is $19.06 and its 200 day moving average is $18.36.

Central Pacific Financial (NYSE:CPF) last announced its quarterly earnings data on Wednesday, January 31st. The financial services provider reported $0.55 earnings per share for the quarter, beating analysts’ consensus estimates of $0.48 by $0.07. The company had revenue of $89.29 million for the quarter, compared to analysts’ expectations of $61.18 million. Central Pacific Financial had a return on equity of 12.23% and a net margin of 17.82%. During the same period last year, the firm posted $0.74 EPS. On average, sell-side analysts anticipate that Central Pacific Financial Corp. will post 1.98 EPS for the current fiscal year.

Central Pacific Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Thursday, February 29th were given a dividend of $0.26 per share. The ex-dividend date of this dividend was Wednesday, February 28th. This represents a $1.04 annualized dividend and a yield of 5.46%. Central Pacific Financial’s payout ratio is 47.93%.

Hedge Funds Weigh In On Central Pacific Financial

Institutional investors and hedge funds have recently bought and sold shares of the stock. Victory Capital Management Inc. grew its position in Central Pacific Financial by 5.2% during the 3rd quarter. Victory Capital Management Inc. now owns 33,200 shares of the financial services provider’s stock worth $554,000 after acquiring an additional 1,650 shares during the last quarter. AQR Capital Management LLC grew its position in Central Pacific Financial by 0.3% during the 3rd quarter. AQR Capital Management LLC now owns 281,271 shares of the financial services provider’s stock worth $4,692,000 after acquiring an additional 798 shares during the last quarter. North Reef Capital Management LP bought a new position in Central Pacific Financial during the 3rd quarter worth approximately $465,000. Wellington Management Group LLP grew its position in Central Pacific Financial by 79.0% during the 3rd quarter. Wellington Management Group LLP now owns 648,310 shares of the financial services provider’s stock worth $10,814,000 after acquiring an additional 286,110 shares during the last quarter. Finally, Assenagon Asset Management S.A. grew its position in Central Pacific Financial by 45.1% during the 4th quarter. Assenagon Asset Management S.A. now owns 384,405 shares of the financial services provider’s stock worth $7,565,000 after acquiring an additional 119,399 shares during the last quarter. 88.42% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Separately, Piper Sandler raised their price target on Central Pacific Financial from $22.00 to $24.00 and gave the company an “overweight” rating in a report on Thursday, February 1st.

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.