Central Pacific Financial (NYSE:CPF) Reaches New 52-Week High – What’s Next?

Central Pacific Financial Corp. (NYSE:CPF)’s stock price reached a new 52-week high on Friday . The stock traded as high as $32.22 and last traded at $32.17, with a volume of 161299 shares changing hands. The stock had previously closed at $31.37.

Analyst Upgrades and Downgrades

Separately, StockNews.com cut shares of Central Pacific Financial from a “hold” rating to a “sell” rating in a research note on Wednesday.

Central Pacific Financial Stock Up 2.6 %

The firm has a fifty day simple moving average of $29.00 and a 200-day simple moving average of $25.19. The firm has a market cap of $870.84 million, a price-to-earnings ratio of 15.29 and a beta of 1.14. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.85 and a current ratio of 0.85.

Central Pacific Financial Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 29th will be issued a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a yield of 3.23%. The ex-dividend date of this dividend is Friday, November 29th. Central Pacific Financial’s dividend payout ratio is 49.52%.

Institutional Investors Weigh In On Central Pacific Financial

Hedge funds have recently added to or reduced their stakes in the business. Boston Partners acquired a new stake in Central Pacific Financial during the 1st quarter valued at $740,000. State Board of Administration of Florida Retirement System acquired a new stake in shares of Central Pacific Financial during the first quarter worth $409,000. Quest Partners LLC lifted its holdings in shares of Central Pacific Financial by 144.4% during the third quarter. Quest Partners LLC now owns 32,083 shares of the financial services provider’s stock worth $947,000 after buying an additional 18,955 shares in the last quarter. Assenagon Asset Management S.A. lifted its holdings in shares of Central Pacific Financial by 143.4% during the third quarter. Assenagon Asset Management S.A. now owns 456,132 shares of the financial services provider’s stock worth $13,460,000 after buying an additional 268,719 shares in the last quarter. Finally, Acadian Asset Management LLC lifted its holdings in shares of Central Pacific Financial by 16.6% during the second quarter. Acadian Asset Management LLC now owns 539,882 shares of the financial services provider’s stock worth $11,442,000 after buying an additional 76,957 shares in the last quarter. Institutional investors and hedge funds own 88.42% of the company’s stock.

About Central Pacific Financial

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.