Central Pacific Financial (NYSE:CPF) Upgraded by StockNews.com to Hold Rating

StockNews.com upgraded shares of Central Pacific Financial (NYSE:CPF) from a sell rating to a hold rating in a research report sent to investors on Thursday.

Central Pacific Financial Trading Down 1.4 %

NYSE:CPF opened at $26.93 on Thursday. Central Pacific Financial has a twelve month low of $18.53 and a twelve month high of $33.25. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.35. The business has a 50 day moving average price of $28.44 and a two-hundred day moving average price of $28.92. The company has a market cap of $730.23 million, a P/E ratio of 13.67 and a beta of 1.17.

Central Pacific Financial (NYSE:CPF) last released its quarterly earnings results on Wednesday, January 29th. The financial services provider reported $0.70 earnings per share for the quarter, topping analysts’ consensus estimates of $0.61 by $0.09. Central Pacific Financial had a return on equity of 12.03% and a net margin of 15.49%. As a group, analysts expect that Central Pacific Financial will post 2.75 EPS for the current fiscal year.

Central Pacific Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Friday, February 28th were issued a $0.27 dividend. This represents a $1.08 annualized dividend and a dividend yield of 4.01%. The ex-dividend date was Friday, February 28th. This is an increase from Central Pacific Financial’s previous quarterly dividend of $0.26. Central Pacific Financial’s dividend payout ratio is presently 54.82%.

Institutional Investors Weigh In On Central Pacific Financial

Large investors have recently made changes to their positions in the stock. Picton Mahoney Asset Management acquired a new stake in shares of Central Pacific Financial in the 4th quarter valued at approximately $30,000. SBI Securities Co. Ltd. acquired a new stake in shares of Central Pacific Financial in the 4th quarter valued at approximately $31,000. Quarry LP acquired a new stake in shares of Central Pacific Financial in the 3rd quarter valued at approximately $53,000. Quantbot Technologies LP acquired a new stake in shares of Central Pacific Financial in the 4th quarter valued at approximately $55,000. Finally, KLP Kapitalforvaltning AS acquired a new stake in Central Pacific Financial during the 4th quarter valued at $168,000. Institutional investors and hedge funds own 88.42% of the company’s stock.

Central Pacific Financial Company 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.