Central Pacific Financial Corp. (NYSE:CPF) Director Duane K. Kurisu bought 900 shares of the firm’s stock in a transaction that occurred on Friday, June 7th. The shares were purchased at an average cost of $28.33 per share, with a total value of $25,497.00. Following the transaction, the director now directly owns 19,323 shares of the company’s stock, valued at $547,420.59. The purchase was disclosed in a legal filing with the SEC, which is available at this link.

NYSE:CPF traded up $0.26 during midday trading on Wednesday, reaching $28.71. 27,761 shares of the stock traded hands, compared to its average volume of 144,660. Central Pacific Financial Corp. has a 12-month low of $23.23 and a 12-month high of $30.82. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.31. The stock has a market capitalization of $811.08 million, a price-to-earnings ratio of 14.28 and a beta of 1.02.

Central Pacific Financial (NYSE:CPF) last posted its earnings results on Wednesday, April 24th. The financial services provider reported $0.55 EPS for the quarter, beating the Zacks’ consensus estimate of $0.52 by $0.03. Central Pacific Financial had a net margin of 24.93% and a return on equity of 12.54%. The company had revenue of $56.79 million during the quarter, compared to analysts’ expectations of $54.80 million. As a group, analysts expect that Central Pacific Financial Corp. will post 2.1 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Monday, June 17th. Shareholders of record on Friday, May 31st will be paid a dividend of $0.23 per share. This is a positive change from Central Pacific Financial’s previous quarterly dividend of $0.21. The ex-dividend date of this dividend is Thursday, May 30th. This represents a $0.92 dividend on an annualized basis and a yield of 3.20%. Central Pacific Financial’s dividend payout ratio is presently 45.77%.

A number of institutional investors have recently modified their holdings of CPF. Robeco Institutional Asset Management B.V. increased its position in Central Pacific Financial by 17.3% during the first quarter. Robeco Institutional Asset Management B.V. now owns 64,126 shares of the financial services provider’s stock worth $1,848,000 after purchasing an additional 9,462 shares during the last quarter. Millennium Management LLC grew its holdings in shares of Central Pacific Financial by 13.8% in the fourth quarter. Millennium Management LLC now owns 323,181 shares of the financial services provider’s stock valued at $7,869,000 after purchasing an additional 39,258 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Central Pacific Financial by 10.0% in the fourth quarter. Geode Capital Management LLC now owns 318,635 shares of the financial services provider’s stock valued at $7,758,000 after purchasing an additional 28,940 shares in the last quarter. Rhumbline Advisers lifted its stake in Central Pacific Financial by 18.0% in the fourth quarter. Rhumbline Advisers now owns 94,872 shares of the financial services provider’s stock worth $2,310,000 after acquiring an additional 14,458 shares during the last quarter. Finally, Acadian Asset Management LLC purchased a new position in Central Pacific Financial in the fourth quarter worth approximately $1,508,000. Institutional investors and hedge funds own 96.08% of the company’s stock.

Separately, Zacks Investment Research cut shares of Central Pacific Financial from a “hold” rating to a “sell” rating in a research report on Tuesday, March 5th.

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About Central Pacific Financial

Central Pacific Financial Corp. operates as the holding company for Central Pacific Bank that provides commercial banking products and services to businesses, professionals, and individuals in Hawaii. The company operates in three segments: Banking Operations, Treasury, and All Others. It offers various deposit products and services, including personal and business checking and savings accounts, money market accounts, and time certificates of deposit.

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