Central Pacific Financial (NYSE:CPF) Hits New 52-Week High – Should You Buy?

Central Pacific Financial Corp. (NYSE:CPF)’s share price reached a new 52-week high on Friday . The stock traded as high as $32.22 and last traded at $32.17, with a volume of 161299 shares. The stock had previously closed at $31.37.

Wall Street Analysts Forecast Growth

Separately, StockNews.com cut Central Pacific Financial from a “hold” rating to a “sell” rating in a report on Wednesday.

Central Pacific Financial Stock Performance

The company has a market capitalization of $870.84 million, a PE ratio of 15.32 and a beta of 1.14. The stock’s fifty day simple moving average is $29.11 and its 200-day simple moving average is $25.30. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.85 and a current ratio of 0.85.

Central Pacific Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 29th will be paid a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a dividend yield of 3.23%. The ex-dividend date of this dividend is Friday, November 29th. Central Pacific Financial’s payout ratio is 49.52%.

Institutional Trading of Central Pacific Financial

Hedge funds and other institutional investors have recently bought and sold shares of the company. State Board of Administration of Florida Retirement System acquired a new stake in shares of Central Pacific Financial during the first quarter worth $409,000. Vanguard Group Inc. grew its holdings in Central Pacific Financial by 0.8% in the 1st quarter. Vanguard Group Inc. now owns 2,089,447 shares of the financial services provider’s stock valued at $41,267,000 after buying an additional 17,058 shares during the period. O Shaughnessy Asset Management LLC increased its stake in shares of Central Pacific Financial by 5.7% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 58,190 shares of the financial services provider’s stock valued at $1,149,000 after acquiring an additional 3,138 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in shares of Central Pacific Financial by 4.2% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 25,507 shares of the financial services provider’s stock worth $504,000 after acquiring an additional 1,020 shares during the period. Finally, Hancock Whitney Corp acquired a new stake in shares of Central Pacific Financial in the first quarter worth approximately $272,000. 88.42% of the stock is owned by hedge funds and other institutional investors.

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.