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

Central Pacific Financial Corp. (NYSE:CPF) Director Agnes Catherine Ngo sold 3,333 shares of the company’s stock in a transaction dated Thursday, June 12th. The shares were sold at an average price of $26.99, for a total transaction of $89,957.67. Following the transaction, the director now directly owns 72,125 shares of the company’s stock, valued at approximately $1,946,653.75. This trade represents a 4.42% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link.

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

• On Monday, May 12th, Agnes Catherine Ngo sold 3,333 shares of Central Pacific Financial stock. The shares were sold at an average price of $27.71, for a total transaction of $92,357.43.

Central Pacific Financial Price Performance

Shares of NYSE CPF opened at $26.42 on Friday. Central Pacific Financial Corp. has a 1 year low of $19.68 and a 1 year high of $33.25. 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 50-day moving average is $26.27 and its 200 day moving average is $27.75. The stock has a market capitalization of $712.71 million, a P/E ratio of 13.41 and a beta of 1.04.

Central Pacific Financial (NYSE:CPF) last announced its quarterly 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 company had revenue of $68.80 million for the quarter, compared to analysts’ expectations of $68.93 million. During the same quarter in the previous year, the company earned $0.48 earnings per share. On average, sell-side analysts expect that Central Pacific Financial Corp. will post 2.75 earnings per share for the current year.

Central Pacific Financial Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Friday, May 30th will be given a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a dividend yield of 4.09%. The ex-dividend date is Friday, May 30th. Central Pacific Financial’s dividend payout ratio is currently 50.47%.

Hedge Funds Weigh In On Central Pacific Financial

Hedge funds and other institutional investors have recently modified their holdings of the stock. Picton Mahoney Asset Management bought a new position in shares of Central Pacific Financial during the fourth quarter valued at approximately $30,000. SBI Securities Co. Ltd. purchased a new stake in shares of Central Pacific Financial in the 4th quarter worth approximately $31,000. Quantbot Technologies LP purchased a new position in Central Pacific Financial during the fourth quarter valued at $55,000. CKW Financial Group boosted its holdings in Central Pacific Financial by 40.9% in the first quarter. CKW Financial Group now owns 4,022 shares of the financial services provider’s stock worth $109,000 after acquiring an additional 1,168 shares in the last quarter. Finally, CWM LLC grew its stake in shares of Central Pacific Financial by 17.5% in the first quarter. CWM LLC now owns 4,285 shares of the financial services provider’s stock worth $116,000 after acquiring an additional 639 shares during the last quarter. Hedge funds and other institutional investors own 88.42% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen upgraded shares of Central Pacific Financial from a “sell” rating to a “hold” rating in a research report on Thursday, March 20th.

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.