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Top Buys by Top Brass: CEO Yonamine's $201.2K Bet on CPF

By Dividend Channel Staff, Monday, July 13, 3:29 PM ET

A company's own top management tend to have the best inside view into the business, so when company officers make major buys, investors are wise to take notice. Presumably the only reason an insider would take their hard-earned cash and use it to buy stock of their company in the open market, is that they expect to make money — maybe they find the stock very undervalued, or maybe they see exciting progress within the company, or maybe both. So in this series we look at the largest insider buys by the ''top brass'' over the trailing six month period, one of which was a total of $201.2K by Paul K. Yonamine, CEO at Central Pacific Financial Corp (NYSE:CPF).

Yonamine bets big on CPF:

Purchased Insider Title Shares Price/Share Value
03/02/2020 Paul K. Yonamine Chairman & CEO 8,265 $24.35 $201,233.53

Yonamine's average cost works out to $24.35/share. In trading on Monday, bargain hunters could buy shares of Central Pacific Financial Corp (NYSE:CPF) and achieve a cost basis lower than Yonamine, with shares changing hands as low as $14.35 per share. It should be noted that Yonamine has collected $0.23/share in dividends since the time of their purchase, so they are currently down 40.1% on their purchase from a total return basis. Shares of Central Pacific Financial Corp were changing hands at $14.80 at last check, trading up about 2.4% on Monday. The chart below shows the one year performance of CPF shares, versus its 200 day moving average:

Central Pacific Financial Corp Chart

Looking at the chart above, CPF's low point in its 52 week range is $12.40 per share, with $30.56 as the 52 week high point — that compares with a last trade of $14.80.

The current annualized dividend paid by Central Pacific Financial Corp is $0.92/share, currently paid in quarterly installments, and its most recent dividend ex-date was on 05/28/2020. Below is a long-term dividend history chart for CPF, which can be of good help in judging whether the most recent dividend with approx. 6.4% annualized yield is likely to continue.


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