Central Pacific Financial Inc. (NYSE:CPF) insider John C. Dean sold 13,764 shares of the stock in a transaction that occurred on Friday, November 25th. The stock was sold at an average price of $30.32, for a total transaction of $417,324.48. Following the completion of the sale, the insider now directly owns 8,122 shares of the company’s stock, valued at $246,259.04. The transaction was disclosed in a filing with the SEC, which is available at this link.
Shares of Central Pacific Financial Inc. (NYSE:CPF) traded up 0.20% during midday trading on Friday, reaching $30.38. 43,249 shares of the company’s stock were exchanged. The company’s 50-day moving average is $26.63 and its 200-day moving average is $24.91. The stock has a market cap of $936.62 million, a P/E ratio of 20.97 and a beta of 1.07. Central Pacific Financial Inc. has a one year low of $18.47 and a one year high of $30.71.
Central Pacific Financial (NYSE:CPF) last released 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 last year, the company posted $0.38 EPS. Equities analysts expect that Central Pacific Financial Inc. will post $1.47 earnings per share for the current fiscal year.
The company 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 dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a dividend yield of 2.11%. The ex-dividend date is Monday, November 28th. Central Pacific Financial’s dividend payout ratio (DPR) is 44.14%.
Large investors 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 during the period. SG Americas Securities LLC purchased a new stake in Central Pacific Financial during the third quarter worth approximately $122,000. Mason Street Advisors LLC purchased 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 during the period. 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 during the period. 94.18% of the stock is owned by hedge funds and other institutional investors.
CPF has been the subject of several analyst reports. Zacks Investment Research raised shares of Central Pacific Financial from a “hold” rating to a “buy” rating and set a $28.00 target price for the company in a report on Wednesday, August 3rd. Compass Point raised shares of Central Pacific Financial from a “neutral” rating to a “buy” rating and set a $28.00 target price for the company in a report on Friday, October 28th. Finally, Raymond James Financial Inc. increased their target price on shares of Central Pacific Financial from $25.00 to $26.00 and gave the stock an “outperform” rating in a report on Tuesday, August 2nd. One analyst has rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $25.80.
About Central Pacific Financial