Central Pacific Financial Corp. (NYSE:CPF) Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. decreased its holdings in shares of Central Pacific Financial Corp. (NYSE:CPF) by 2.9% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 151,935 shares of the financial services provider’s stock after selling 4,618 shares during the quarter. Principal Financial Group Inc. owned approximately 0.56% of Central Pacific Financial worth $3,221,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. CWM LLC raised its stake in Central Pacific Financial by 221.9% during the second quarter. CWM LLC now owns 1,957 shares of the financial services provider’s stock worth $41,000 after acquiring an additional 1,349 shares during the period. Allspring Global Investments Holdings LLC grew its position in Central Pacific Financial by 660.9% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 2,488 shares of the financial services provider’s stock worth $49,000 after purchasing an additional 2,161 shares during the last quarter. Central Pacific Bank Trust Division bought a new position in Central Pacific Financial in the 1st quarter worth about $134,000. Natixis Advisors L.P. bought a new position in Central Pacific Financial in the 4th quarter worth about $222,000. Finally, EMC Capital Management bought a new position in Central Pacific Financial in the 1st quarter worth about $228,000. Institutional investors and hedge funds own 88.42% of the company’s stock.

Insider Activity

In related news, Director Agnes Catherine Ngo sold 3,333 shares of the firm’s stock in a transaction that occurred on Friday, July 12th. The shares were sold at an average price of $22.67, for a total transaction of $75,559.11. Following the transaction, the director now owns 75,357 shares in the company, valued at $1,708,343.19. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 2.70% of the company’s stock.

Central Pacific Financial Price Performance

NYSE CPF opened at $26.20 on Thursday. Central Pacific Financial Corp. has a 52 week low of $14.69 and a 52 week high of $28.38. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.30. The stock has a market cap of $708.50 million, a price-to-earnings ratio of 12.78 and a beta of 1.12. The company has a 50-day moving average price of $25.27 and a two-hundred day moving average price of $21.79.

Central Pacific Financial (NYSE:CPF) last posted its earnings results on Wednesday, July 31st. The financial services provider reported $0.58 EPS for the quarter, topping the consensus estimate of $0.48 by $0.10. Central Pacific Financial had a net margin of 16.44% and a return on equity of 11.36%. The firm had revenue of $87.96 million during the quarter, compared to analysts’ expectations of $61.74 million. During the same quarter in the prior year, the firm earned $0.53 EPS. Analysts forecast that Central Pacific Financial Corp. will post 2.2 EPS for the current year.

Central Pacific Financial Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, September 16th. Shareholders of record on Friday, August 30th will be given a $0.26 dividend. This represents a $1.04 annualized dividend and a yield of 3.97%. The ex-dividend date of this dividend is Friday, August 30th. Central Pacific Financial’s dividend payout ratio (DPR) is 50.73%.

Central Pacific Financial 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.