Central Pacific Financial (NYSE:CPF) Sets New 12-Month High – Should You Buy?

Central Pacific Financial Corp. (NYSE:CPF) reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $29.71 and last traded at $29.58, with a volume of 35419 shares trading hands. The stock had previously closed at $29.11.

Central Pacific Financial Stock Up 2.1 %

The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.86 and a current ratio of 0.86. The stock’s 50 day simple moving average is $27.26 and its 200 day simple moving average is $23.30. The firm has a market cap of $803.42 million, a P/E ratio of 14.43 and a beta of 1.13.

Central Pacific Financial (NYSE:CPF) last issued its quarterly earnings data on Wednesday, July 31st. The financial services provider reported $0.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.48 by $0.10. Central Pacific Financial had a net margin of 16.44% and a return on equity of 11.36%. The firm had revenue of $87.96 million during the quarter, compared to analysts’ expectations of $61.74 million. During the same period last year, the company earned $0.53 earnings per share. Research analysts anticipate that Central Pacific Financial Corp. will post 2.2 EPS for the current year.

Central Pacific Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Friday, August 30th were issued a $0.26 dividend. The ex-dividend date of this dividend was Friday, August 30th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 3.50%. Central Pacific Financial’s dividend payout ratio is presently 50.73%.

Hedge Funds Weigh In On Central Pacific Financial

Hedge funds have recently bought and sold shares of the company. CWM LLC lifted its position in shares of Central Pacific Financial by 221.9% during the second quarter. CWM LLC now owns 1,957 shares of the financial services provider’s stock valued at $41,000 after purchasing an additional 1,349 shares in the last quarter. Allspring Global Investments Holdings LLC increased its stake in Central Pacific Financial by 660.9% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 2,488 shares of the financial services provider’s stock valued at $49,000 after buying an additional 2,161 shares during the last quarter. USA Financial Formulas bought a new position in shares of Central Pacific Financial during the 3rd quarter worth approximately $81,000. Central Pacific Bank Trust Division purchased a new position in shares of Central Pacific Financial in the 1st quarter worth approximately $134,000. Finally, SG Americas Securities LLC bought a new position in shares of Central Pacific Financial in the third quarter valued at approximately $183,000. 88.42% of the stock is owned by hedge funds and other institutional investors.

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.