Central Pacific Financial Corp. (NYSE:CPF) declared a quarterly dividend on Tuesday, July 28th, Zacks reports. Stockholders of record on Monday, August 31st will be given a dividend of 0.23 per share by the financial services provider on Tuesday, September 15th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 5.93%. The ex-dividend date of this dividend is Friday, August 28th.
Central Pacific Financial has raised its dividend payment by an average of 50.0% annually over the last three years and has increased its dividend annually for the last 4 consecutive years. Central Pacific Financial has a dividend payout ratio of 78.6% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline. Analysts expect Central Pacific Financial to earn $0.98 per share next year, which means the company should continue to be able to cover its $0.92 annual dividend with an expected future payout ratio of 93.9%.
Shares of CPF stock traded down $0.08 on Thursday, reaching $15.52. The company had a trading volume of 2,268 shares, compared to its average volume of 184,745. The stock has a market capitalization of $436.55 million, a PE ratio of 8.77 and a beta of 1.26. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.29. Central Pacific Financial has a one year low of $12.40 and a one year high of $30.56. The business’s 50-day moving average is $15.52 and its 200 day moving average is $19.27.
A number of research firms have weighed in on CPF. Compass Point raised shares of Central Pacific Financial from a “neutral” rating to a “buy” rating in a research report on Thursday, April 23rd. ValuEngine raised shares of Central Pacific Financial from a “sell” rating to a “hold” rating in a research report on Thursday, July 2nd. Finally, Zacks Investment Research raised shares of Central Pacific Financial from a “hold” rating to a “buy” rating and set a $18.00 price objective for the company in a research report on Tuesday, June 23rd.
In other Central Pacific Financial news, Director Crystal Rose bought 1,900 shares of the stock in a transaction that occurred on Thursday, June 11th. The shares were bought at an average price of $17.44 per share, for a total transaction of $33,136.00. Following the acquisition, the director now directly owns 27,175 shares of the company’s stock, valued at approximately $473,932. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 3.70% of the company’s stock.
Central Pacific Financial Company Profile
Central Pacific Financial Corp. operates as the holding company for Central Pacific Bank that provides commercial banking products and services to businesses, professionals, and individuals in Hawaii. The company operates in three segments: Banking Operations, Treasury, and All Others. It offers various deposit products and services, including personal and business checking and savings accounts, money market accounts, and time certificates of deposit.
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