Agnes Catherine Ngo Sells 3,333 Shares of Central Pacific Financial Corp. (NYSE:CPF) Stock

Central Pacific Financial Corp. (NYSE:CPF) Director Agnes Catherine Ngo sold 3,333 shares of Central Pacific Financial stock in a transaction dated Friday, April 12th. The shares were sold at an average price of $19.00, for a total value of $63,327.00. Following the completion of the transaction, the director now owns 85,356 shares in the company, valued at approximately $1,621,764. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Agnes Catherine Ngo also recently made the following trade(s):

• On Tuesday, March 12th, Agnes Catherine Ngo sold 3,333 shares of Central Pacific Financial stock. The shares were sold at an average price of $19.32, for a total value of $64,393.56.
• On Monday, February 12th, Agnes Catherine Ngo sold 3,333 shares of Central Pacific Financial stock. The stock was sold at an average price of $19.45, for a total value of $64,826.85.

Central Pacific Financial Stock Performance

NYSE:CPF opened at $19.04 on Friday. The stock has a market cap of $515.03 million, a P/E ratio of 8.77 and a beta of 1.15. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.31. The stock’s 50-day moving average is $19.06 and its 200-day moving average is $18.36. Central Pacific Financial Corp. has a 1-year low of $13.22 and a 1-year high of $22.00.

Central Pacific Financial (NYSE:CPF) last released its quarterly earnings results on Wednesday, January 31st. The financial services provider reported $0.55 earnings per share for the quarter, topping the consensus estimate of $0.48 by $0.07. The company had revenue of $89.29 million for the quarter, compared to analysts’ expectations of $61.18 million. Central Pacific Financial had a return on equity of 12.23% and a net margin of 17.82%. During the same period in the previous year, the business posted $0.74 earnings per share. Equities research analysts anticipate that Central Pacific Financial Corp. will post 1.98 earnings per share for the current year.

Central Pacific Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Thursday, February 29th were issued a $0.26 dividend. This represents a $1.04 annualized dividend and a yield of 5.46%. The ex-dividend date was Wednesday, February 28th. Central Pacific Financial’s payout ratio is presently 47.93%.

Institutional Trading of Central Pacific Financial

Several institutional investors have recently added to or reduced their stakes in CPF. Tower Research Capital LLC TRC boosted its holdings in Central Pacific Financial by 63.9% in the fourth quarter. Tower Research Capital LLC TRC now owns 2,327 shares of the financial services provider’s stock valued at $46,000 after acquiring an additional 907 shares during the last quarter. Captrust Financial Advisors boosted its holdings in Central Pacific Financial by 127.6% in the first quarter. Captrust Financial Advisors now owns 1,853 shares of the financial services provider’s stock valued at $52,000 after acquiring an additional 1,039 shares during the last quarter. Point72 Hong Kong Ltd bought a new stake in Central Pacific Financial in the second quarter valued at approximately $65,000. Quantbot Technologies LP bought a new stake in Central Pacific Financial in the second quarter valued at approximately $86,000. Finally, Trexquant Investment LP bought a new stake in Central Pacific Financial in the third quarter valued at approximately $171,000. 88.42% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Separately, Piper Sandler boosted their price target on Central Pacific Financial from $22.00 to $24.00 and gave the stock an “overweight” rating in a report on Thursday, February 1st.

About Central Pacific Financial

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.