Central Pacific Financial Corp. (NYSE:CPF) Declares Quarterly Dividend of $0.26

Posted by Steven Smith on Aug 28th, 2024

Central Pacific Financial Corp. (NYSE:CPF – Get Free Report) announced a quarterly dividend on Tuesday, July 30th, NASDAQ reports. Shareholders of record on Friday, August 30th will be paid a dividend of 0.26 per share by the financial services provider on Monday, September 16th. This represents a $1.04 annualized dividend and a yield of 3.77%. The ex-dividend date of this dividend is Friday, August 30th.

Central Pacific Financial has increased its dividend by an average of 4.2% per year over the last three years. Central Pacific Financial has a payout ratio of 41.1% meaning its dividend is sufficiently covered by earnings. Research analysts expect Central Pacific Financial to earn $2.53 per share next year, which means the company should continue to be able to cover its $1.04 annual dividend with an expected future payout ratio of 41.1%.

Central Pacific Financial Stock Down 0.3 %

Shares of Central Pacific Financial stock opened at $27.57 on Wednesday. Central Pacific Financial has a 12-month low of $14.69 and a 12-month high of $28.07. The company has a market cap of $745.55 million, a P/E ratio of 13.45 and a beta of 1.13. The company has a current ratio of 0.86, a quick ratio of 0.85 and a debt-to-equity ratio of 0.30. The company’s fifty day simple moving average is $23.83 and its two-hundred day simple moving average is $21.17.

Central Pacific Financial (NYSE:CPF – Get Free Report) last announced its earnings results on Wednesday, July 31st. The financial services provider reported $0.58 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 for the quarter, compared to analysts’ expectations of $61.74 million. During the same quarter in the previous year, the business posted $0.53 EPS. Research analysts anticipate that Central Pacific Financial will post 2.2 EPS for the current year.

Insider Activity

In other news, Director Agnes Catherine Ngo sold 3,333 shares of the business’s stock in a transaction on Friday, July 12th. The shares were sold at an average price of $22.67, for a total transaction of $75,559.11. Following the sale, the director now owns 75,357 shares in the company, valued at approximately $1,708,343.19. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 2.70% of the company’s stock.

About Central Pacific Financial

(Get Free Report)

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.