Central Pacific Financial Corp. (NYSE:CPF) Director Paul K. Yonamine Sells 2,765 Shares of Stock

Central Pacific Financial Corp. (NYSE:CPF) Director Paul K. Yonamine sold 2,765 shares of the business’s stock in a transaction on Thursday, June 5th. The shares were sold at an average price of $26.31, for a total transaction of $72,747.15. Following the transaction, the director now directly owns 19,711 shares of the company’s stock, valued at approximately $518,596.41. This trade represents a 12.30% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.

Central Pacific Financial Stock Performance

CPF stock opened at $26.68 on Friday. The company has a market capitalization of $719.75 million, a P/E ratio of 13.54 and a beta of 1.04. The company has a 50-day simple moving average of $26.05 and a 200 day simple moving average of $27.95. Central Pacific Financial Corp. has a fifty-two week low of $19.56 and a fifty-two week high of $33.25. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.35.

Central Pacific Financial (NYSE:CPF) last issued its quarterly earnings results on Wednesday, April 23rd. The financial services provider reported $0.65 earnings per share for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $68.93 million. During the same period in the prior year, the company earned $0.48 EPS. Sell-side analysts predict that Central Pacific Financial Corp. will post 2.75 earnings per share for the current fiscal year.

Central Pacific Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Friday, May 30th will be paid a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a yield of 4.05%. The ex-dividend date is Friday, May 30th. Central Pacific Financial’s dividend payout ratio is presently 50.47%.

Institutional Trading of Central Pacific Financial

A number of hedge funds have recently bought and sold shares of the company. Picton Mahoney Asset Management acquired a new position in shares of Central Pacific Financial in the 4th quarter valued at about $30,000. SBI Securities Co. Ltd. acquired a new position in Central Pacific Financial during the fourth quarter valued at approximately $31,000. Quantbot Technologies LP acquired a new position in Central Pacific Financial during the fourth quarter valued at approximately $55,000. CKW Financial Group boosted its position in shares of 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 valued at $109,000 after acquiring an additional 1,168 shares during the period. Finally, CWM LLC boosted its position 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 valued at $116,000 after acquiring an additional 639 shares during the period. 88.42% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, Wall Street Zen raised shares of Central Pacific Financial from a “sell” rating to a “hold” rating in a 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.