Central Pacific Financial Corp. (NYSE:CPF) Declares Quarterly Dividend of $0.27

Central Pacific Financial Corp. (NYSE:CPF) declared a quarterly dividend on Thursday, January 30th,Wall Street Journal reports. Shareholders of record on Friday, February 28th will be given a dividend of 0.27 per share by the financial services provider on Monday, March 17th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 3.66%. The ex-dividend date of this dividend is Friday, February 28th. This is a boost from Central Pacific Financial’s previous quarterly dividend of $0.26.

Central Pacific Financial has increased its dividend by an average of 2.7% annually over the last three years. Central Pacific Financial has a dividend payout ratio of 37.5% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Central Pacific Financial to earn $2.55 per share next year, which means the company should continue to be able to cover its $1.08 annual dividend with an expected future payout ratio of 42.4%.

Central Pacific Financial Stock Up 5.4 %

Shares of NYSE:CPF traded up $1.51 during midday trading on Thursday, reaching $29.51. The company’s stock had a trading volume of 228,316 shares, compared to its average volume of 224,616. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.29. The firm has a 50 day moving average of $29.47 and a 200-day moving average of $28.19. The firm has a market capitalization of $798.73 million, a P/E ratio of 14.05 and a beta of 1.19. 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 announced its quarterly earnings data on Wednesday, January 29th. The financial services provider reported $0.70 earnings per share for the quarter, topping analysts’ consensus estimates of $0.61 by $0.09. Central Pacific Financial had a net margin of 16.10% and a return on equity of 11.44%. On average, research analysts anticipate that Central Pacific Financial will post 2.29 earnings per share for the current year.

Analysts Set New Price Targets

Separately, StockNews.com cut shares of Central Pacific Financial from a “hold” rating to a “sell” rating in a research note on Tuesday.

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.