Paul K. Yonamine Sells 2,765 Shares of Central Pacific Financial Corp. (NYSE:CPF) Stock

Central Pacific Financial Corp. (NYSE:CPF) Director Paul K. Yonamine sold 2,765 shares of the company’s stock in a transaction dated Thursday, June 5th. The stock was sold at an average price of $26.31, for a total transaction of $72,747.15. Following the completion of the transaction, the director now owns 19,711 shares in the company, valued at $518,596.41. This represents a 12.30% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Central Pacific Financial Stock Up 1.4%

NYSE:CPF opened at $26.68 on Monday. The firm has a market capitalization of $719.75 million, a P/E ratio of 13.54 and a beta of 1.04. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.85 and a quick ratio of 0.85. The company’s fifty day moving average price is $26.05 and its 200-day moving average price is $27.91. Central Pacific Financial Corp. has a 1-year low of $19.56 and a 1-year high of $33.25.

Central Pacific Financial (NYSE:CPF) last announced its earnings results on Wednesday, April 23rd. The financial services provider reported $0.65 earnings per share (EPS) for the quarter, beating the consensus estimate 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 business had revenue of $68.80 million for the quarter, compared to analyst estimates of $68.93 million. During the same quarter last year, the business earned $0.48 earnings per share. As a group, equities research analysts anticipate that Central Pacific Financial Corp. will post 2.75 EPS for the current year.

Central Pacific Financial Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Friday, May 30th will be paid a $0.27 dividend. This represents a $1.08 annualized dividend and a dividend yield of 4.05%. The ex-dividend date is Friday, May 30th. Central Pacific Financial’s dividend payout ratio is currently 50.47%.

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 report on Thursday, March 20th.

Hedge Funds Weigh In On Central Pacific Financial

A number of institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. raised its stake in shares of Central Pacific Financial by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 2,124,330 shares of the financial services provider’s stock valued at $61,712,000 after acquiring an additional 20,196 shares during the period. Charles Schwab Investment Management Inc. raised its position in Central Pacific Financial by 0.6% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,004,487 shares of the financial services provider’s stock valued at $27,161,000 after purchasing an additional 5,648 shares during the last quarter. LSV Asset Management raised its position in Central Pacific Financial by 10.1% during the 1st quarter. LSV Asset Management now owns 734,830 shares of the financial services provider’s stock worth $19,870,000 after buying an additional 67,300 shares during the last quarter. American Century Companies Inc. raised its position in Central Pacific Financial by 7.5% during the 1st quarter. American Century Companies Inc. now owns 708,931 shares of the financial services provider’s stock worth $19,169,000 after buying an additional 49,449 shares during the last quarter. Finally, Geode Capital Management LLC grew its stake in shares of Central Pacific Financial by 0.6% during the 4th quarter. Geode Capital Management LLC now owns 644,390 shares of the financial services provider’s stock worth $18,724,000 after purchasing an additional 4,021 shares during the period. 88.42% of the stock is 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.