Central Pacific Financial (NYSE:CPF) Upgraded 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 sent to investors on Wednesday.

Central Pacific Financial Price Performance

Shares of NYSE:CPF opened at $29.66 on Wednesday. The firm has a market capitalization of $802.90 million, a price-to-earnings ratio of 15.06 and a beta of 1.19. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.85 and a quick ratio of 0.85. The business’s 50 day simple moving average is $29.20 and its 200-day simple moving average is $28.41. Central Pacific Financial has a 12 month low of $18.00 and a 12 month high of $33.25.

Central Pacific Financial (NYSE:CPF) last posted its earnings results on Wednesday, January 29th. The financial services provider reported $0.70 EPS 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, 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 firm also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Friday, February 28th will be issued a dividend of $0.27 per share. This is an increase from Central Pacific Financial’s previous quarterly dividend of $0.26. This represents a $1.08 annualized dividend and a yield of 3.64%. The ex-dividend date is Friday, February 28th. Central Pacific Financial’s dividend payout ratio (DPR) is 52.79%.

Institutional Trading of Central Pacific Financial

Several institutional investors and hedge funds have recently modified their holdings of the business. Basswood Capital Management L.L.C. acquired a new position in shares of Central Pacific Financial during the 3rd quarter worth approximately $15,455,000. Assenagon Asset Management S.A. increased its position in Central Pacific Financial by 143.4% during the third quarter. Assenagon Asset Management S.A. now owns 456,132 shares of the financial services provider’s stock worth $13,460,000 after buying an additional 268,719 shares in the last quarter. Raymond James Financial Inc. acquired a new position in shares of Central Pacific Financial in the fourth quarter worth $1,712,000. FMR LLC lifted its position in shares of Central Pacific Financial by 24.4% in the third quarter. FMR LLC now owns 295,359 shares of the financial services provider’s stock valued at $8,716,000 after acquiring an additional 58,009 shares in the last quarter. Finally, Jackson Creek Investment Advisors LLC acquired a new stake in shares of Central Pacific Financial during the fourth quarter valued at $1,463,000. Hedge funds and other institutional investors 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.