Central Pacific Financial (NYSE:CPF) Rating Increased to Hold at StockNews.com

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

Central Pacific Financial Stock Up 1.6 %

NYSE CPF opened at $30.61 on Wednesday. Central Pacific Financial has a 1-year low of $18.00 and a 1-year high of $33.25. The company has a market capitalization of $828.49 million, a price-to-earnings ratio of 15.54 and a beta of 1.19. The stock’s 50 day moving average is $29.24 and its two-hundred day moving average is $28.40. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.35.

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

Central Pacific Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Friday, February 28th will be issued a dividend of $0.27 per share. This is a positive change from Central Pacific Financial’s previous quarterly dividend of $0.26. The ex-dividend date of this dividend is Friday, February 28th. This represents a $1.08 annualized dividend and a dividend yield of 3.53%. Central Pacific Financial’s dividend payout ratio (DPR) is presently 54.82%.

Institutional Trading of Central Pacific Financial

Large investors have recently made changes to their positions in the business. nVerses Capital LLC bought a new stake in shares of Central Pacific Financial during the third quarter valued at approximately $50,000. Quarry LP acquired a new position in shares of Central Pacific Financial during the third quarter valued at $53,000. USA Financial Formulas bought a new position in Central Pacific Financial in the third quarter valued at about $81,000. CWM LLC raised its holdings in Central Pacific Financial by 77.7% during the 3rd quarter. CWM LLC now owns 3,477 shares of the financial services provider’s stock worth $103,000 after purchasing an additional 1,520 shares during the last quarter. Finally, SG Americas Securities LLC acquired a new position in Central Pacific Financial during the 3rd quarter valued at about $183,000. Institutional investors 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.