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

StockNews.com upgraded shares of Central Pacific Financial (NYSE:CPF) from a sell rating to a hold rating in a report released on Tuesday.

Central Pacific Financial Trading Up 0.4 %

CPF opened at $31.02 on Tuesday. The company has a debt-to-equity ratio of 0.29, a current ratio of 0.85 and a quick ratio of 0.85. Central Pacific Financial has a fifty-two week low of $16.95 and a fifty-two week high of $32.21. The company’s 50 day moving average price is $28.65 and its two-hundred day moving average price is $24.90. The firm has a market capitalization of $839.58 million, a price-to-earnings ratio of 14.77 and a beta of 1.14.

Central Pacific Financial Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 29th will be given a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a yield of 3.35%. The ex-dividend date is Friday, November 29th. Central Pacific Financial’s dividend payout ratio is currently 49.52%.

Institutional Investors Weigh In On Central Pacific Financial

Institutional investors have recently made changes to their positions in the stock. CWM LLC lifted its stake in shares of Central Pacific Financial by 221.9% in the second quarter. CWM LLC now owns 1,957 shares of the financial services provider’s stock worth $41,000 after acquiring an additional 1,349 shares during the period. Allspring Global Investments Holdings LLC lifted its position in shares of Central Pacific Financial by 660.9% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 2,488 shares of the financial services provider’s stock worth $49,000 after purchasing an additional 2,161 shares during the period. nVerses Capital LLC bought a new stake in shares of Central Pacific Financial in the 3rd quarter valued at $50,000. Quarry LP bought a new stake in shares of Central Pacific Financial in the 3rd quarter valued at $53,000. Finally, USA Financial Formulas acquired a new stake in shares of Central Pacific Financial during the third quarter worth $81,000. Institutional investors own 88.42% of the company’s stock.

About Central Pacific Financial

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.