Central Pacific Financial Corp. (NYSE:CPF) Director Agnes Catherine Ngo Sells 3,333 Shares

Central Pacific Financial Corp. (NYSE:CPF) Director Agnes Catherine Ngo sold 3,333 shares of the business’s stock in a transaction on Friday, April 12th. The stock was sold at an average price of $19.00, for a total transaction of $63,327.00. Following the completion of the transaction, the director now directly owns 85,356 shares in the company, valued at approximately $1,621,764. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, 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 transaction 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 Trading Down 0.7 %

CPF stock opened at $19.04 on Friday. The firm has a fifty day moving average price of $19.06 and a 200 day moving average price of $18.34. Central Pacific Financial Corp. has a fifty-two week low of $13.22 and a fifty-two week high of $22.00. The firm has a market cap of $515.03 million, a PE ratio of 8.77 and a beta of 1.15. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.86 and a current ratio of 0.86.

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

Central Pacific Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Thursday, February 29th were paid 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 currently 47.93%.

Institutional Investors Weigh In On Central Pacific Financial

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Charles Schwab Investment Management Inc. raised its stake in shares of Central Pacific Financial by 121.0% in the first quarter. Charles Schwab Investment Management Inc. now owns 747,539 shares of the financial services provider’s stock valued at $13,381,000 after acquiring an additional 409,320 shares during the period. The Manufacturers Life Insurance Company raised its position in Central Pacific Financial by 2,830.3% in the 1st quarter. The Manufacturers Life Insurance Company now owns 421,059 shares of the financial services provider’s stock worth $11,748,000 after purchasing an additional 406,690 shares during the period. Goldman Sachs Group Inc. lifted its stake in Central Pacific Financial by 64.4% in the first quarter. Goldman Sachs Group Inc. now owns 753,236 shares of the financial services provider’s stock worth $21,015,000 after purchasing an additional 295,134 shares during the last quarter. Wellington Management Group LLP boosted its position in shares of Central Pacific Financial by 79.0% during the third quarter. Wellington Management Group LLP now owns 648,310 shares of the financial services provider’s stock valued at $10,814,000 after buying an additional 286,110 shares during the period. Finally, Millennium Management LLC grew its stake in shares of Central Pacific Financial by 132.7% during the second quarter. Millennium Management LLC now owns 358,180 shares of the financial services provider’s stock valued at $7,683,000 after buying an additional 204,284 shares during the last quarter. 88.42% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

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.