Central Pacific Financial Inc. (CPF) Hits New 12-Month High at $24.98
Central Pacific Financial Inc. (NYSE:CPF) reached a new 52-week high during trading on Thursday . The company traded as high as $24.98 and last traded at $24.87, with a volume of 42,411 shares traded. The stock had previously closed at $24.54.
A number of research firms have commented on CPF. Zacks Investment Research downgraded shares of Central Pacific Financial from a “hold” rating to a “sell” rating in a research report on Friday, April 22nd. Piper Jaffray Cos. began coverage on shares of Central Pacific Financial in a research report on Friday, July 8th. They issued a “neutral” rating and a $25.00 target price for the company.
The stock’s 50 day moving average price is $23.77 and its 200 day moving average price is $21.79. The firm has a market capitalization of $767.07 million and a PE ratio of 16.83.
Central Pacific Financial (NYSE:CPF) last posted its earnings results on Thursday, April 28th. The financial services provider reported $0.35 EPS for the quarter, beating the Zacks’ consensus estimate of $0.33 by $0.02. During the same quarter in the previous year, the firm posted $0.29 EPS. On average, analysts forecast that Central Pacific Financial Inc. will post $1.45 earnings per share for the current year.
In related news, insider Lance A. Mizumoto sold 1,572 shares of the stock in a transaction that occurred on Friday, May 20th. The shares were sold at an average price of $23.26, for a total transaction of $36,564.72. Following the completion of the sale, the insider now owns 48,477 shares of the company’s stock, valued at $1,127,575.02. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Lance A. Mizumoto sold 17,662 shares of the stock in a transaction that occurred on Tuesday, May 24th. The shares were sold at an average price of $23.35, for a total transaction of $412,407.70. Following the sale, the insider now directly owns 55,225 shares of the company’s stock, valued at approximately $1,289,503.75. The disclosure for this sale can be found here.
A number of large investors have recently bought and sold shares of CPF. First Trust Advisors LP boosted its stake in Central Pacific Financial by 79.4% in the fourth quarter. First Trust Advisors LP now owns 47,800 shares of the financial services provider’s stock worth $1,053,000 after buying an additional 21,152 shares during the last quarter. Bailard Inc. purchased a new stake in Central Pacific Financial during the fourth quarter worth approximately $1,845,000. Pear Tree Advisors Inc. purchased a new stake in Central Pacific Financial during the fourth quarter worth approximately $1,847,000. Bank of Montreal Can boosted its stake in Central Pacific Financial by 375.6% in the fourth quarter. Bank of Montreal Can now owns 122,419 shares of the financial services provider’s stock worth $2,695,000 after buying an additional 96,681 shares during the last quarter. Finally, Nationwide Fund Advisors boosted its position in Central Pacific Financial by 45.6% in the fourth quarter. Nationwide Fund Advisors now owns 148,325 shares of the financial services provider’s stock worth $3,266,000 after buying an additional 46,443 shares in the last quarter.
Central Pacific Financial Corp. serves as the bank holding company for its bank subsidiary, Central Pacific Bank (the bank). The Company’s segments include Banking Operations, Treasury and All Others. The Banking Operations segment includes construction and commercial real estate lending, commercial lending, residential mortgage lending, consumer lending, trust services, retail brokerage services, and the Company’s retail branch offices, which provide a range of deposit and loan products, as well as various other banking services.
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