Central Pacific Financial (NYSE:CPF) Hits New 12-Month High – What’s Next?

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

Wall Street Analysts Forecast Growth

Separately, StockNews.com downgraded Central Pacific Financial from a “hold” rating to a “sell” rating in a research note on Wednesday.

Central Pacific Financial Stock Performance

The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.29. The stock’s 50 day moving average price is $29.11 and its two-hundred day moving average price is $25.30. The firm has a market capitalization of $870.84 million, a price-to-earnings ratio of 15.32 and a beta of 1.14.

Central Pacific Financial Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 29th will be issued a $0.26 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $1.04 dividend on an annualized basis and a yield of 3.23%. Central Pacific Financial’s dividend payout ratio (DPR) is presently 49.52%.

Institutional Investors Weigh In On Central Pacific Financial

Several institutional investors have recently modified their holdings of CPF. nVerses Capital LLC purchased a new position in Central Pacific Financial in the 3rd quarter valued at approximately $50,000. Quarry LP purchased a new position in shares of Central Pacific Financial in the third quarter valued at $53,000. CWM LLC raised its stake in shares of Central Pacific Financial by 221.9% during the 2nd quarter. CWM LLC now owns 1,957 shares of the financial services provider’s stock worth $41,000 after buying an additional 1,349 shares during the last quarter. USA Financial Formulas purchased a new stake in shares of Central Pacific Financial in the 3rd quarter worth about $81,000. Finally, SG Americas Securities LLC acquired a new stake in Central Pacific Financial in the 3rd quarter valued at about $183,000. 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.