Central Pacific Financial (NYSE:CPF) Reaches New 12-Month High at $24.63

Shares of Central Pacific Financial Corp. (NYSE:CPF) hit a new 52-week high on Wednesday . The stock traded as high as $24.63 and last traded at $24.36, with a volume of 39975 shares changing hands. The stock had previously closed at $23.99.

Central Pacific Financial Stock Performance

The firm has a 50-day moving average of $20.88 and a two-hundred day moving average of $19.85. The company has a quick ratio of 0.85, a current ratio of 0.86 and a debt-to-equity ratio of 0.37. The company has a market capitalization of $659.78 million, a PE ratio of 11.95 and a beta of 1.13.

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 return on equity of 11.34% and a net margin of 16.44%. The company had revenue of $61.43 million during the quarter, compared to analysts’ expectations of $60.78 million. Research analysts anticipate that Central Pacific Financial Corp. will post 2 EPS for the current year.

Central Pacific Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 17th. Shareholders of record on Friday, May 31st were issued a $0.26 dividend. This represents a $1.04 annualized dividend and a yield of 4.26%. The ex-dividend date of this dividend was Friday, May 31st. Central Pacific Financial’s payout ratio is currently 50.73%.

Insider Buying and Selling at Central Pacific Financial

In other Central Pacific Financial news, Director Agnes Catherine Ngo sold 3,333 shares of the firm’s stock in a transaction that occurred on Friday, July 12th. The stock was sold at an average price of $22.67, for a total value of $75,559.11. Following the sale, the director now directly owns 75,357 shares of the company’s stock, valued at $1,708,343.19. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 2.70% of the stock is owned by corporate insiders.

Institutional Trading of Central Pacific Financial

A number of institutional investors have recently made changes to their positions in CPF. American Century Companies Inc. boosted its stake in shares of 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 worth $5,111,000 after acquiring an additional 29,026 shares during the last quarter. Wellington Management Group LLP boosted its stake 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 worth $10,814,000 after acquiring an additional 286,110 shares during the last quarter. SG Americas Securities LLC boosted its stake 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 worth $578,000 after acquiring an additional 3,910 shares during the last quarter. Assenagon Asset Management S.A. boosted its stake 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 worth $7,565,000 after acquiring an additional 119,399 shares during the last quarter. Finally, New York State Teachers Retirement System boosted its stake 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 worth $493,000 after acquiring an additional 1,022 shares during the last quarter. 88.42% of the stock is owned by institutional investors and hedge funds.

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.