Central Pacific Financial (NYSE:CPF) Shares Cross Above Two Hundred Day Moving Average – Time to Sell?

Shares of Central Pacific Financial Corp. (NYSE:CPF) passed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $28.72 and traded as high as $29.26. Central Pacific Financial shares last traded at $28.35, with a volume of 251,886 shares changing hands.

Wall Street Analysts Forecast Growth

Separately, StockNews.com raised Central Pacific Financial from a “sell” rating to a “hold” rating in a research note on Thursday, February 13th.

Central Pacific Financial Stock Performance

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 company has a market cap of $767.37 million, a price-to-earnings ratio of 14.39 and a beta of 1.19. The firm has a 50 day simple moving average of $28.78 and a 200-day simple moving average of $28.75.

Central Pacific Financial (NYSE:CPF) last posted 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 15.49% and a return on equity of 12.03%. As a group, analysts predict that Central Pacific Financial Corp. will post 2.75 EPS 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. The ex-dividend date of this dividend is Friday, February 28th. This is a positive change from Central Pacific Financial’s previous quarterly dividend of $0.26. This represents a $1.08 dividend on an annualized basis and a yield of 3.81%. Central Pacific Financial’s dividend payout ratio is 54.82%.

Hedge Funds Weigh In On Central Pacific Financial

Institutional investors have recently modified their holdings of the business. Picton Mahoney Asset Management purchased a new position in Central Pacific Financial in the fourth quarter valued at $30,000. SBI Securities Co. Ltd. acquired a new stake in Central Pacific Financial in the 4th quarter valued at about $31,000. Quarry LP purchased a new position in shares of Central Pacific Financial in the 3rd quarter valued at about $53,000. Quantbot Technologies LP acquired a new position in shares of Central Pacific Financial during the fourth quarter worth about $55,000. Finally, CWM LLC increased its stake in shares of Central Pacific Financial by 77.7% during the third quarter. CWM LLC now owns 3,477 shares of the financial services provider’s stock worth $103,000 after buying an additional 1,520 shares during the period. Institutional investors and hedge funds own 88.42% of the company’s stock.

About Central Pacific Financial

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.