John C. Dean Sells 10,174 Shares of Central Pacific Financial Inc. (CPF) Stock
Central Pacific Financial Inc. (NYSE:CPF) insider John C. Dean sold 10,174 shares of the business’s stock in a transaction that occurred on Wednesday, November 23rd. The shares were sold at an average price of $30.35, for a total value of $308,780.90. Following the transaction, the insider now owns 8,122 shares of the company’s stock, valued at approximately $246,502.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.
Shares of Central Pacific Financial Inc. (NYSE:CPF) opened at 29.48 on Tuesday. The stock has a market cap of $908.87 million, a price-to-earnings ratio of 20.35 and a beta of 1.07. The firm’s 50-day moving average price is $26.90 and its 200-day moving average price is $25.05. Central Pacific Financial Inc. has a 12-month low of $18.47 and a 12-month 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 analysts’ consensus estimates 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 quarter last year, the business earned $0.38 EPS. On average, analysts forecast that Central Pacific Financial Inc. will post $1.47 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 15th. Investors of record on Wednesday, November 30th will be issued a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 2.15%. The ex-dividend date of this dividend is Monday, November 28th. Central Pacific Financial’s dividend payout ratio is currently 44.14%.
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Several research analysts have issued reports on the company. Zacks Investment Research upgraded Central Pacific Financial from a “hold” rating to a “buy” rating and set a $28.00 target price for the company in a research report on Wednesday, August 3rd. Compass Point lowered Central Pacific Financial from a “buy” rating to a “neutral” rating in a report on Friday, November 18th. Finally, Raymond James Financial Inc. boosted their price target on Central Pacific Financial from $25.00 to $26.00 and gave the company an “outperform” rating in a report on Tuesday, August 2nd. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $25.80.
A number of hedge funds have recently added to or reduced their stakes in the company. Teacher Retirement System of Texas increased its stake in 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 bought a new stake in Central Pacific Financial during the third quarter worth approximately $122,000. Mason Street Advisors LLC bought a new stake in Central Pacific Financial during the second quarter worth approximately $143,000. Sei Investments Co. increased its stake in 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. Finally, Municipal Employees Retirement System of Michigan increased its stake in 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. 93.63% of the stock is currently owned by hedge funds and other institutional investors.
Central Pacific Financial Company Profile
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.
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