Central Pacific Financial (NYSE:CPF) Reaches New 52-Week High - What's Next?

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

Wall Street Analyst Weigh In

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

Central Pacific Financial Price Performance

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's 50 day moving average price is $29.00 and its 200 day moving average price is $25.19. The company has a market cap of $870.84 million, a price-to-earnings ratio of 15.29 and a beta of 1.14.

Central Pacific Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 29th will be issued a dividend of $0.26 per share. The ex-dividend date of this dividend is Friday, November 29th. This represents a $1.04 annualized dividend and a yield of 3.23%. Central Pacific Financial's dividend payout ratio is currently 49.52%.

Institutional Trading of Central Pacific Financial

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Barclays PLC increased its stake in shares of Central Pacific Financial by 84.3% in the 3rd 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 boosted its position in Central Pacific Financial by 4.0% during the 3rd quarter. Geode Capital Management LLC now owns 640,369 shares of the financial services provider's stock worth $18,901,000 after acquiring an additional 24,686 shares during the last quarter. XTX Topco Ltd acquired a new position in Central Pacific Financial during the 3rd quarter worth approximately $422,000. Zacks Investment Management bought a new position in shares of Central Pacific Financial in the third quarter valued at $573,000. Finally, Jane Street Group LLC grew its stake in shares of Central Pacific Financial by 62.7% in the third quarter. Jane Street Group LLC now owns 40,463 shares of the financial services provider's stock valued at $1,194,000 after buying an additional 15,599 shares in the last quarter. 88.42% of the stock is owned by 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.

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