Central Pacific Financial (NYSE:CPF) Upgraded to "Hold" at StockNews.com

StockNews.com upgraded shares of Central Pacific Financial (NYSE:CPF - Free Report) from a sell rating to a hold rating in a report published on Thursday.

Central Pacific Financial Stock Down 0.2 %

CPF traded down $0.07 during midday trading on Thursday, hitting $26.86. 636,347 shares of the company's stock traded hands, compared to its average volume of 188,102. 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 $728.44 million, a PE ratio of 13.64 and a beta of 1.17. The stock's fifty day simple moving average is $28.45 and its 200-day simple moving average is $28.92. Central Pacific Financial has a one year low of $18.53 and a one year high of $33.25.

Central Pacific Financial (NYSE:CPF - Get Free Report) last released its quarterly earnings results on Wednesday, January 29th. The financial services provider reported $0.70 earnings per share for the quarter, beating 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, equities analysts anticipate that Central Pacific Financial will post 2.75 earnings per share for the current fiscal year.

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Central Pacific Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Friday, February 28th were issued a dividend of $0.27 per share. This is a positive change from Central Pacific Financial's previous quarterly dividend of $0.26. The ex-dividend date of this dividend was Friday, February 28th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 4.02%. Central Pacific Financial's dividend payout ratio is currently 54.82%.

Hedge Funds Weigh In On Central Pacific Financial

A number of institutional investors have recently modified their holdings of CPF. Quest Partners LLC raised its holdings in Central Pacific Financial by 144.4% in the 3rd quarter. Quest Partners LLC now owns 32,083 shares of the financial services provider's stock worth $947,000 after acquiring an additional 18,955 shares during the period. Algert Global LLC grew its position in shares of Central Pacific Financial by 1.4% in the third quarter. Algert Global LLC now owns 41,936 shares of the financial services provider's stock valued at $1,238,000 after purchasing an additional 570 shares during the last quarter. FMR LLC increased its stake in shares of Central Pacific Financial by 24.4% in the third quarter. FMR LLC now owns 295,359 shares of the financial services provider's stock worth $8,716,000 after purchasing an additional 58,009 shares during the period. Martingale Asset Management L P lifted its position in shares of Central Pacific Financial by 4.6% during the 3rd quarter. Martingale Asset Management L P now owns 90,226 shares of the financial services provider's stock worth $2,663,000 after purchasing an additional 3,945 shares during the last quarter. Finally, PDT Partners LLC bought a new stake in Central Pacific Financial during the 3rd quarter valued at approximately $454,000. 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.