Central Pacific Financial (NYSE:CPF) Cut to “Sell” at StockNews.com

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

Central Pacific Financial Stock Performance

Central Pacific Financial stock opened at $27.14 on Wednesday. The stock has a market cap of $734.44 million, a P/E ratio of 13.77 and a beta of 1.17. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.35. The stock has a 50 day moving average of $28.48 and a 200-day moving average of $28.94. Central Pacific Financial has a 52 week low of $18.35 and a 52 week high of $33.25.

Central Pacific Financial (NYSE:CPF) last announced its quarterly earnings data on Wednesday, January 29th. The financial services provider reported $0.70 earnings per share (EPS) for the quarter, topping 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%. On average, analysts expect that Central Pacific Financial will post 2.75 EPS for the current fiscal year.

Central Pacific Financial Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Friday, February 28th will be paid 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 is Friday, February 28th. This represents a $1.08 annualized dividend and a yield of 3.98%. Central Pacific Financial’s dividend payout ratio is 54.82%.

Institutional Investors Weigh In On Central Pacific Financial

Institutional investors and hedge funds have recently bought and sold shares of the business. JPMorgan Chase & Co. raised its stake in Central Pacific Financial by 6.4% during the third quarter. JPMorgan Chase & Co. now owns 431,498 shares of the financial services provider’s stock worth $12,734,000 after acquiring an additional 26,139 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Central Pacific Financial by 4.0% in the third quarter. Geode Capital Management LLC now owns 640,369 shares of the financial services provider’s stock valued at $18,901,000 after acquiring an additional 24,686 shares in the last quarter. Quest Partners LLC boosted its holdings in shares of Central Pacific Financial by 144.4% in the third quarter. Quest Partners LLC now owns 32,083 shares of the financial services provider’s stock valued at $947,000 after acquiring an additional 18,955 shares in the last quarter. Barclays PLC boosted its holdings in shares of Central Pacific Financial by 84.3% in the third quarter. Barclays PLC now owns 58,493 shares of the financial services provider’s stock valued at $1,726,000 after acquiring an additional 26,755 shares in the last quarter. Finally, Y Intercept Hong Kong Ltd bought a new position in shares of Central Pacific Financial in the fourth quarter valued at approximately $413,000. 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.