Central Pacific Financial Corp. (NYSE:CPF) Director Buys $25,497.00 in Stock

Central Pacific Financial Corp. (NYSE:CPF) Director Duane K. Kurisu acquired 900 shares of Central Pacific Financial stock in a transaction dated Friday, June 7th. The shares were acquired at an average price of $28.33 per share, with a total value of $25,497.00. Following the completion of the transaction, the director now owns 19,323 shares of the company’s stock, valued at approximately $547,420.59. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website.

Shares of NYSE CPF traded up $0.14 during midday trading on Thursday, hitting $28.69. 158 shares of the company’s stock were exchanged, compared to its average volume of 96,440. The company has a market cap of $814.51 million, a PE ratio of 14.31 and a beta of 1.02. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.31. Central Pacific Financial Corp. has a twelve month low of $23.23 and a twelve month high of $30.82.

Central Pacific Financial (NYSE:CPF) last released its earnings results on Wednesday, April 24th. The financial services provider reported $0.55 earnings per share for the quarter, topping analysts’ consensus estimates of $0.52 by $0.03. The firm had revenue of $56.79 million during the quarter, compared to the consensus estimate of $54.80 million. Central Pacific Financial had a return on equity of 12.54% and a net margin of 24.93%. Sell-side analysts forecast that Central Pacific Financial Corp. will post 2.1 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Monday, June 17th. Shareholders of record on Friday, May 31st will be given a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 3.21%. This is an increase from Central Pacific Financial’s previous quarterly dividend of $0.21. The ex-dividend date is Thursday, May 30th. Central Pacific Financial’s dividend payout ratio is 45.77%.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CPF. BlueCrest Capital Management Ltd acquired a new stake in shares of Central Pacific Financial during the 1st quarter valued at $243,000. SEI Investments Co acquired a new stake in shares of Central Pacific Financial during the 1st quarter valued at $277,000. Goldman Sachs Group Inc. lifted its position in shares of Central Pacific Financial by 4.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 878,040 shares of the financial services provider’s stock valued at $25,322,000 after acquiring an additional 35,675 shares during the last quarter. Oxford Asset Management LLP acquired a new stake in shares of Central Pacific Financial during the 1st quarter valued at $1,195,000. Finally, Hsbc Holdings PLC lifted its position in shares of Central Pacific Financial by 112.6% during the 1st quarter. Hsbc Holdings PLC now owns 74,195 shares of the financial services provider’s stock valued at $2,140,000 after acquiring an additional 39,303 shares during the last quarter. Hedge funds and other institutional investors own 96.08% of the company’s stock.

Separately, Zacks Investment Research downgraded Central Pacific Financial from a “buy” rating to a “hold” rating in a research report on Wednesday, April 10th.

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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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