Central Pacific Financial Corp. Plans Quarterly Dividend of $0.26 (NYSE:CPF)

Central Pacific Financial Corp. (NYSE:CPF) announced a quarterly dividend on Tuesday, October 29th,Zacks Dividends reports. Investors of record on Friday, November 29th will be paid a dividend of 0.26 per share by the financial services provider on Monday, December 16th. This represents a $1.04 annualized dividend and a yield of 3.21%. The ex-dividend date of this dividend is Friday, November 29th.

Central Pacific Financial has increased its dividend by an average of 4.2% per year over the last three years. Central Pacific Financial has a payout ratio of 40.8% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Central Pacific Financial to earn $2.55 per share next year, which means the company should continue to be able to cover its $1.04 annual dividend with an expected future payout ratio of 40.8%.

Central Pacific Financial Stock Up 0.5 %

Shares of CPF stock opened at $32.39 on Thursday. Central Pacific Financial has a 12 month low of $16.95 and a 12 month high of $33.25. 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 firm has a market cap of $876.80 million, a PE ratio of 15.42 and a beta of 1.14. The stock has a 50 day moving average of $29.28 and a 200-day moving average of $25.49.

Analysts Set New Price Targets

Separately, StockNews.com downgraded shares of Central Pacific Financial from a “hold” rating to a “sell” rating in a report on Wednesday, November 20th.

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.