John C. Dean Sells 13,764 Shares of Central Pacific Financial Inc. (CPF) Stock
Central Pacific Financial Inc. (NYSE:CPF) insider John C. Dean sold 13,764 shares of the business’s stock in a transaction dated Friday, November 25th. The stock was sold at an average price of $30.32, for a total value of $417,324.48. Following the transaction, the insider now owns 8,122 shares of the company’s stock, valued at $246,259.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
Shares of Central Pacific Financial Inc. (NYSE:CPF) opened at 29.48 on Tuesday. The stock has a 50 day moving average price of $26.90 and a 200-day moving average price of $25.05. Central Pacific Financial Inc. has a 1-year low of $18.47 and a 1-year high of $30.71. The company has a market cap of $908.87 million, a price-to-earnings ratio of 20.35 and a beta of 1.07.
Central Pacific Financial (NYSE:CPF) last announced its earnings results on Thursday, October 27th. The financial services provider reported $0.37 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 in the prior year, the firm earned $0.38 earnings per share. Equities research analysts forecast that Central Pacific Financial Inc. will post $1.47 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, December 15th. Investors of record on Wednesday, November 30th will be issued a $0.16 dividend. The ex-dividend date is Monday, November 28th. This represents a $0.64 dividend on an annualized basis and a yield of 2.15%. Central Pacific Financial’s dividend payout ratio is currently 44.14%.
A number of institutional investors have recently made changes to their positions in the company. Renaissance Technologies LLC boosted its position in shares of Central Pacific Financial by 19.5% in the first quarter. Renaissance Technologies LLC now owns 787,700 shares of the financial services provider’s stock worth $17,148,000 after buying an additional 128,800 shares in the last quarter. Panagora Asset Management Inc. raised its stake in shares of Central Pacific Financial by 43.7% in the first quarter. Panagora Asset Management Inc. now owns 278,706 shares of the financial services provider’s stock worth $6,067,000 after buying an additional 84,786 shares during the last quarter. BNP Paribas Arbitrage SA raised its stake in shares of Central Pacific Financial by 103.1% in the second quarter. BNP Paribas Arbitrage SA now owns 9,667 shares of the financial services provider’s stock worth $228,000 after buying an additional 4,907 shares during the last quarter. Capstone Asset Management Co. acquired a new stake in shares of Central Pacific Financial during the second quarter worth about $212,000. Finally, Nisa Investment Advisors LLC raised its stake in shares of Central Pacific Financial by 1.5% in the second quarter. Nisa Investment Advisors LLC now owns 24,150 shares of the financial services provider’s stock worth $570,000 after buying an additional 350 shares during the last quarter. 93.63% of the stock is currently owned by institutional investors.
CPF has been the subject of several research analyst reports. Raymond James Financial Inc. lifted their price target on Central Pacific Financial from $25.00 to $26.00 and gave the stock an “outperform” rating in a research note on Tuesday, August 2nd. Zacks Investment Research raised Central Pacific Financial from a “hold” rating to a “buy” rating and set a $28.00 price target for the company in a research note on Wednesday, August 3rd. Finally, Compass Point initiated coverage on Central Pacific Financial in a research note on Thursday, August 11th. They set a “neutral” rating and a $26.00 price target for the company. One research analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $25.80.
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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