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 Central Pacific Financial stock in a transaction that occurred on Friday, July 12th. The shares were sold at an average price of $22.67, for a total transaction of $75,559.11. Following the sale, the director now owns 75,357 shares of the company’s stock, valued at $1,708,343.19. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website.

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

• On Monday, May 13th, Agnes Catherine Ngo sold 3,333 shares of Central Pacific Financial stock. The shares were sold at an average price of $21.19, for a total transaction of $70,626.27.

Central Pacific Financial Price Performance

NYSE CPF traded up $0.67 on Monday, hitting $23.25. The company had a trading volume of 153,513 shares, compared to its average volume of 168,069. The company has a market capitalization of $628.68 million, a PE ratio of 11.40 and a beta of 1.13. The company’s fifty day moving average price is $20.77 and its 200-day moving average price is $19.80. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.86 and a quick ratio of 0.85. Central Pacific Financial Corp. has a 12-month low of $14.69 and a 12-month high of $23.56.

Central Pacific Financial (NYSE:CPF) last announced its quarterly earnings results on Wednesday, April 24th. The financial services provider reported $0.48 earnings per share for the quarter, beating the consensus estimate of $0.45 by $0.03. Central Pacific Financial had a net margin of 16.44% and a return on equity of 11.34%. The firm had revenue of $61.43 million for the quarter, compared to analysts’ expectations of $60.78 million. As a group, analysts predict that Central Pacific Financial Corp. will post 2 earnings per share for the current year.

Central Pacific Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 17th. Investors of record on Friday, May 31st were paid a dividend of $0.26 per share. The ex-dividend date of this dividend was Friday, May 31st. This represents a $1.04 dividend on an annualized basis and a dividend yield of 4.47%. Central Pacific Financial’s payout ratio is 50.73%.

Institutional Trading of Central Pacific Financial

Large investors have recently made changes to their positions in the company. American Century Companies Inc. increased its stake in Central Pacific Financial by 10.5% in the third quarter. American Century Companies Inc. now owns 306,425 shares of the financial services provider’s stock valued at $5,111,000 after purchasing an additional 29,026 shares during the last quarter. Wellington Management Group LLP boosted its holdings in shares of Central Pacific Financial by 79.0% in 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 acquiring an additional 286,110 shares during the period. SG Americas Securities LLC boosted its holdings in shares of Central Pacific Financial by 15.4% in the fourth quarter. SG Americas Securities LLC now owns 29,375 shares of the financial services provider’s stock valued at $578,000 after acquiring an additional 3,910 shares during the period. Assenagon Asset Management S.A. boosted its holdings in shares of Central Pacific Financial by 45.1% in the fourth quarter. Assenagon Asset Management S.A. now owns 384,405 shares of the financial services provider’s stock valued at $7,565,000 after acquiring an additional 119,399 shares during the period. Finally, New York State Teachers Retirement System boosted its holdings in shares of Central Pacific Financial by 4.2% in the fourth quarter. New York State Teachers Retirement System now owns 25,075 shares of the financial services provider’s stock valued at $493,000 after acquiring an additional 1,022 shares during the period. 88.42% of the stock is currently owned by hedge funds and other institutional investors.

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.