StockNews.com Begins Coverage on Central Pacific Financial (NYSE:CPF)

StockNews.com initiated coverage on shares of Central Pacific Financial (NYSE:CPF – Get Rating) in a research report sent to investors on Thursday morning. The brokerage issued a hold rating on the financial services provider’s stock.

Central Pacific Financial Price Performance

CPF stock opened at $18.43 on Thursday. Central Pacific Financial has a 1 year low of $17.91 and a 1 year high of $28.89. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.83 and a quick ratio of 0.83. The stock has a market cap of $498.35 million, a price-to-earnings ratio of 6.85 and a beta of 1.13. The company has a 50 day simple moving average of $21.99 and a 200 day simple moving average of $21.26.

Central Pacific Financial (NYSE:CPF – Get Rating) last announced its quarterly earnings results on Wednesday, January 25th. The financial services provider reported $0.74 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.61 by $0.13. Central Pacific Financial had a net margin of 26.35% and a return on equity of 16.13%. The company had revenue of $67.89 million during the quarter, compared to the consensus estimate of $66.63 million. Research analysts anticipate that Central Pacific Financial will post 2.52 EPS for the current fiscal year.

Central Pacific Financial Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 15th. Stockholders of record on Tuesday, February 28th were issued a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a dividend yield of 5.64%. The ex-dividend date of this dividend was Monday, February 27th. Central Pacific Financial’s dividend payout ratio (DPR) is currently 38.66%.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Wipfli Financial Advisors LLC bought a new stake in Central Pacific Financial during the 3rd quarter worth approximately $50,000. Captrust Financial Advisors increased its holdings in Central Pacific Financial by 127.6% in the first quarter. Captrust Financial Advisors now owns 1,853 shares of the financial services provider’s stock valued at $52,000 after purchasing an additional 1,039 shares during the period. Tower Research Capital LLC TRC raised its position in Central Pacific Financial by 101.9% during the 3rd quarter. Tower Research Capital LLC TRC now owns 2,931 shares of the financial services provider’s stock worth $61,000 after purchasing an additional 1,479 shares during the last quarter. Picton Mahoney Asset Management acquired a new position in Central Pacific Financial during the 3rd quarter worth about $62,000. Finally, Point72 Hong Kong Ltd bought a new stake in shares of Central Pacific Financial in the 2nd quarter valued at about $65,000. Institutional investors own 89.76% of the company’s stock.

Central Pacific Financial Company Profile

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Central Pacific Financial Corp. is a bank holding company, which engages in the provision of commercial banking services through its wholly owned subsidiary, Central Pacific Bank. It operates through the following segments: Banking Operations, Treasury, and All Others. The Banking Operations segment includes construction and real estate development lending, commercial lending, residential mortgage lending and servicing, indirect auto lending, trust services, and retail brokerage services.