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

Central Pacific Financial Corp. (NYSE:CPF - Get Free Report) announced a quarterly dividend on Tuesday, January 28th,Wall Street Journal reports. Investors 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 annualized dividend and a dividend yield of 3.68%. The ex-dividend date 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% per year over the last three years. Central Pacific Financial has a dividend payout ratio of 37.5% meaning its dividend is sufficiently covered by earnings. Research analysts expect Central Pacific Financial to earn $3.05 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 35.4%.

Central Pacific Financial Stock Performance

NYSE:CPF traded down $0.58 during trading hours on Monday, hitting $29.31. 164,786 shares of the company traded hands, compared to its average volume of 233,928. Central Pacific Financial has a twelve month low of $18.00 and a twelve month high of $33.25. The stock has a market capitalization of $793.45 million, a price-to-earnings ratio of 14.88 and a beta of 1.19. The firm has a 50-day moving average of $29.32 and a 200 day moving average of $28.34. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.35.

Central Pacific Financial (NYSE:CPF - Get Free Report) last posted its quarterly earnings data on Wednesday, January 29th. The financial services provider reported $0.70 earnings per share for the quarter, topping the consensus estimate of $0.61 by $0.09. Central Pacific Financial had a net margin of 15.49% and a return on equity of 12.03%. On average, analysts forecast that Central Pacific Financial will post 2.75 EPS for the current year.

Wall Street Analyst Weigh In

Separately, StockNews.com lowered Central Pacific Financial from a "hold" rating to a "sell" rating in a research note on Tuesday, January 28th.

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.