Central Pacific Financial Inc. (CPF) Insider John C. Dean Sells 10,000 Shares of Stock
Central Pacific Financial Inc. (NYSE:CPF) insider John C. Dean sold 10,000 shares of Central Pacific Financial stock in a transaction on Monday, November 21st. The shares were sold at an average price of $30.14, for a total value of $301,400.00. Following the completion of the transaction, the insider now owns 8,122 shares of the company’s stock, valued at approximately $244,797.08. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.
Shares of Central Pacific Financial Inc. (NYSE:CPF) opened at 30.24 on Tuesday. The stock’s 50 day moving average price is $26.33 and its 200-day moving average price is $24.82. The company has a market cap of $932.30 million, a P/E ratio of 20.87 and a beta of 1.07. Central Pacific Financial Inc. has a 52-week low of $18.47 and a 52-week high of $30.71.
Central Pacific Financial (NYSE:CPF) last issued its quarterly earnings results on Thursday, October 27th. The financial services provider reported $0.37 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.38 by $0.01. Central Pacific Financial had a return on equity of 8.96% and a net margin of 22.03%. During the same period last year, the company posted $0.38 EPS. Equities analysts expect that Central Pacific Financial Inc. will post $1.47 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, December 15th. Investors of record on Wednesday, November 30th will be given a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 2.12%. The ex-dividend date of this dividend is Monday, November 28th. Central Pacific Financial’s dividend payout ratio is currently 44.14%.
CPF has been the subject of several research analyst reports. Zacks Investment Research upgraded Central Pacific Financial from a “hold” rating to a “buy” rating and set a $28.00 price objective for the company in a research report on Wednesday, August 3rd. Compass Point upgraded Central Pacific Financial from a “neutral” rating to a “buy” rating and set a $28.00 target price for the company in a research report on Friday, October 28th. Finally, Raymond James Financial Inc. boosted their target price on Central Pacific Financial from $25.00 to $26.00 and gave the stock an “outperform” rating in a research report on Tuesday, August 2nd. Four investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Central Pacific Financial presently has a consensus rating of “Hold” and an average target price of $25.80.
A number of large investors have recently modified their holdings of CPF. Teacher Retirement System of Texas increased its stake in shares of Central Pacific Financial by 14.0% in the second quarter. Teacher Retirement System of Texas now owns 4,388 shares of the financial services provider’s stock worth $104,000 after buying an additional 540 shares in the last quarter. SG Americas Securities LLC acquired a new stake in shares of Central Pacific Financial during the third quarter worth $122,000. Mason Street Advisors LLC acquired a new stake in shares of Central Pacific Financial during the second quarter worth $143,000. Municipal Employees Retirement System of Michigan increased its stake in shares of Central Pacific Financial by 1.6% in the third quarter. Municipal Employees Retirement System of Michigan now owns 6,890 shares of the financial services provider’s stock worth $174,000 after buying an additional 110 shares in the last quarter. Finally, Sei Investments Co. increased its stake in shares of Central Pacific Financial by 173.6% in the second quarter. Sei Investments Co. now owns 7,121 shares of the financial services provider’s stock worth $168,000 after buying an additional 4,518 shares in the last quarter. 94.18% of the stock is currently owned by institutional investors and hedge funds.
About Central Pacific Financial
Central Pacific Financial Corp. serves as the bank holding company for its bank subsidiary, Central Pacific Bank (the bank). The Company’s segments include Banking Operations, Treasury and All Others. The Banking Operations segment includes construction and commercial real estate lending, commercial lending, residential mortgage lending, consumer lending, trust services, retail brokerage services, and the Company’s retail branch offices, which provide a range of deposit and loan products, as well as various other banking services.
Receive News & Stock Ratings for Central Pacific Financial Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Central Pacific Financial Inc. and related stocks with our FREE daily email newsletter.