Central Pacific Financial Corp. (NYSE:CPF) announced 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 5.94%. The ex-dividend date of this dividend is Friday, August 28th.
Central Pacific Financial has increased 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 tumble. Research 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 traded down $0.10 during trading hours on Thursday, reaching $15.50. 2,024 shares of the company traded hands, compared to its average volume of 184,745. Central Pacific Financial has a 12 month low of $12.40 and a 12 month high of $30.56. The company’s fifty day moving average price is $15.52 and its two-hundred day moving average price is $19.27. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.29. The company has a market capitalization of $436.55 million, a price-to-earnings ratio of 8.77 and a beta of 1.26.
In related news, Director Crystal Rose bought 1,900 shares of the business’s stock in a transaction dated Thursday, June 11th. The stock was acquired at an average price of $17.44 per share, with a total value of $33,136.00. Following the completion of the purchase, the director now directly owns 27,175 shares of the company’s stock, valued at $473,932. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. 3.70% of the stock is owned by insiders.
CPF has been the subject of a number of research reports. Compass Point raised shares of Central Pacific Financial from a “neutral” rating to a “buy” rating in a research note on Thursday, April 23rd. ValuEngine upgraded shares of Central Pacific Financial from a “sell” rating to a “hold” rating in a research note 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 target for the company in a research report on Tuesday, June 23rd.
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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