In a recent transaction, Central Pacific Financial Corp (NYSE:) Director Agnes Catherine Ngo sold a total of 3,333 shares of the company’s stock. The shares were sold at an average price of $19.00, for a total value of $63,327.
The sale was executed on April 12, 2024, and was reported in a filing with the Securities and Exchange Commission. Following the transaction, Ngo retained a significant stake of 85,356 shares in Central Pacific Financial, which is based in Honolulu, Hawaii.
Central Pacific Financial Corp operates as a state-owned commercial bank, and this recent sale by a key insider may be of interest to current and potential investors. Details of the transaction, including the number of shares sold and the price per share, may be provided upon request to the SEC staff, the issuer or the issuer’s security holder.
The trade was carried out under a pre-established trading plan, known as the Rule 10b5-1 plan, established on May 1, 2023. Such plans allow company insiders to sell shares over a pre-determined period of time, reducing the risk of any allegations of insider trading, as they have no discretion over the timing of transactions once the plan is in place.
The shares sold by Ngo represent a small percentage of the company’s total market capitalization, and she continues to have a substantial stake in the company’s success through her remaining shares. Investors often monitor insider transactions as they can provide insight into executives’ perspectives on the company’s current valuation and future prospects.
For those interested in tracking Central Pacific Financial Corp’s stock performance and insider transactions, the stock is publicly traded on the New York Stock Exchange under the symbol CPF.
Insights on InvestingPro
Following the recent insider transaction at Central Pacific Financial Corp (NYSE:CPF), investors may be interested in understanding the company’s broader financial backdrop. Second InvestirePro According to the data, Central Pacific Financial Corp has a market capitalization of $516.58 million and a price-to-earnings (P/E) ratio of 8.69, which is adjusted to 8.56 when considering the trailing twelve months starting in the fourth quarter of 2023. This valuation metric may suggest a potentially attractive entry point for value-oriented investors, particularly when compared to industry averages.
According to the latest data, the company’s dividend yield stands at 5.4%, underlining Central Pacific Financial’s commitment to returning value to shareholders. This is further supported by the fact that the company has maintained dividend payments for 12 consecutive years, a testament to its financial stability and management’s confidence in the company’s cash flow.
Two Professional investment tips What might be of interest to investors is that analysts have revised their earnings upwards for the coming period, indicating a positive outlook on the company’s profitability. Furthermore, the company has been profitable over the past twelve months, which is in line with analysts’ predictions that Central Pacific Financial will continue to be profitable this year.
While the company’s gross profit margins have been cited as a weakness, overall financial health, including a consistent dividend payment and positive earnings revision, could be compelling factors for investors considering Central Pacific Financial Corp as part of their investment portfolio.
For an in-depth look at Central Pacific Financial Corp’s financial data, including additional data Professional investment tipsInvestors can explore the full suite of analysis tools at InvestirePro. There are 2 more tips available for CPF, which can be accessed with an annual or bi-annual Pro and Pro+ subscription. To improve your investment strategy, use the coupon code PRONEWS24 for an additional 10% discount on your subscription.
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