Central Pacific Financial Corp. (NYSE:CPF) Director John C. Dean sold 2,469 shares of the company’s stock in a transaction dated Tuesday, February 19th. The shares were sold at an average price of $30.00, for a total transaction of $74,070.00. Following the completion of the sale, the director now directly owns 3,398 shares of the company’s stock, valued at $101,940. The sale was disclosed in a filing with the SEC, which is available at this hyperlink.
CPF stock opened at $30.05 on Thursday. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.25. Central Pacific Financial Corp. has a one year low of $23.23 and a one year high of $31.61. The stock has a market cap of $874.88 million, a price-to-earnings ratio of 14.85 and a beta of 1.04.
Central Pacific Financial (NYSE:CPF) last posted its quarterly earnings data on Wednesday, January 30th. The financial services provider reported $0.54 EPS for the quarter, beating analysts’ consensus estimates of $0.49 by $0.05. Central Pacific Financial had a net margin of 25.09% and a return on equity of 12.30%. The company had revenue of $54.08 million during the quarter, compared to analyst estimates of $53.80 million. Sell-side analysts predict that Central Pacific Financial Corp. will post 2.07 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 15th. Shareholders of record on Thursday, February 28th will be paid a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 2.80%. The ex-dividend date is Wednesday, February 27th. Central Pacific Financial’s dividend payout ratio is presently 41.79%.
Hedge funds have recently bought and sold shares of the business. Quantamental Technologies LLC purchased a new stake in Central Pacific Financial during the fourth quarter valued at about $44,000. Tower Research Capital LLC TRC purchased a new stake in Central Pacific Financial during the third quarter valued at about $123,000. SG Americas Securities LLC purchased a new stake in Central Pacific Financial during the fourth quarter valued at about $162,000. Verition Fund Management LLC purchased a new stake in Central Pacific Financial during the third quarter valued at about $218,000. Finally, Jefferies Group LLC purchased a new stake in Central Pacific Financial during the third quarter valued at about $233,000. 94.23% of the stock is owned by institutional investors.
A number of brokerages have weighed in on CPF. Zacks Investment Research downgraded shares of Central Pacific Financial from a “hold” rating to a “sell” rating in a report on Monday. ValuEngine raised shares of Central Pacific Financial from a “sell” rating to a “hold” rating in a research note on Monday, December 17th.
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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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