StockNews.com lowered shares of Central Pacific Financial (NYSE:CPF - Free Report) from a hold rating to a sell rating in a research report sent to investors on Tuesday.
Central Pacific Financial Price Performance
Shares of CPF traded up $0.18 during mid-day trading on Tuesday, hitting $31.10. 114,694 shares of the stock were exchanged, compared to its average volume of 194,171. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.85 and a current ratio of 0.85. The company has a market cap of $841.88 million, a PE ratio of 14.72 and a beta of 1.18. Central Pacific Financial has a 52-week low of $18.00 and a 52-week high of $33.25. The firm has a 50-day moving average of $29.86 and a two-hundred day moving average of $26.16.
Central Pacific Financial Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 29th will be paid 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 dividend yield of 3.34%. Central Pacific Financial's payout ratio is currently 49.52%.
Institutional Investors Weigh In On Central Pacific Financial
Large investors have recently added to or reduced their stakes in the stock. Franklin Resources Inc. increased its position in shares of Central Pacific Financial by 4.0% during the 3rd quarter. Franklin Resources Inc. now owns 56,148 shares of the financial services provider's stock valued at $1,634,000 after purchasing an additional 2,151 shares during the last quarter. Barclays PLC increased its position in Central Pacific Financial by 84.3% during the third quarter. Barclays PLC now owns 58,493 shares of the financial services provider's stock valued at $1,726,000 after acquiring an additional 26,755 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of Central Pacific Financial by 4.0% in the third quarter. Geode Capital Management LLC now owns 640,369 shares of the financial services provider's stock valued at $18,901,000 after acquiring an additional 24,686 shares during the period. XTX Topco Ltd bought a new stake in shares of Central Pacific Financial in the 3rd quarter worth about $422,000. Finally, Zacks Investment Management purchased a new position in shares of Central Pacific Financial during the 3rd quarter worth about $573,000. 88.42% of the stock is owned by institutional investors.
About Central Pacific Financial
(
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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.
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