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 report released on Thursday.

Central Pacific Financial Trading Down 0.2 %

Shares of CPF opened at $26.86 on Thursday. The stock’s 50-day moving average is $28.45 and its two-hundred day moving average is $28.92. The stock has a market cap of $728.44 million, a PE ratio of 13.64 and a beta of 1.17. Central Pacific Financial has a 12 month low of $18.53 and a 12 month high of $33.25. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.85 and a quick ratio of 0.85.

Central Pacific Financial (NYSE:CPF) last issued its quarterly earnings data 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%. 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 was paid on Monday, March 17th. Stockholders of record on Friday, February 28th were given a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a dividend yield of 4.02%. This is a positive change from Central Pacific Financial’s previous quarterly dividend of $0.26. The ex-dividend date of this dividend was Friday, February 28th. Central Pacific Financial’s payout ratio is presently 54.82%.

Institutional Trading of Central Pacific Financial

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in shares of Central Pacific Financial during the fourth quarter worth about $4,412,000. Mackenzie Financial Corp purchased a new stake in shares of Central Pacific Financial during the fourth quarter worth about $557,000. Rafferty Asset Management LLC increased its holdings in Central Pacific Financial by 30.6% in the fourth quarter. Rafferty Asset Management LLC now owns 45,136 shares of the financial services provider’s stock valued at $1,311,000 after buying an additional 10,563 shares during the last quarter. ProShare Advisors LLC bought a new stake in Central Pacific Financial in the fourth quarter valued at about $234,000. Finally, Nuveen Asset Management LLC increased its holdings in Central Pacific Financial by 3.3% in the fourth quarter. Nuveen Asset Management LLC now owns 421,317 shares of the financial services provider’s stock valued at $12,239,000 after buying an additional 13,406 shares during the last quarter. 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.