Central Pacific Financial (NYSE:CPF) Cut to “Sell” at StockNews.com

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

Central Pacific Financial Trading Up 5.4 %

CPF opened at $29.51 on Tuesday. The firm has a market capitalization of $798.73 million, a price-to-earnings ratio of 14.05 and a beta of 1.19. The company’s 50 day simple moving average is $29.43 and its two-hundred day simple moving average is $28.20. Central Pacific Financial has a 1-year low of $18.00 and a 1-year high of $33.25. 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 (NYSE:CPF) last announced its quarterly earnings results on Wednesday, January 29th. The financial services provider reported $0.70 earnings per share for the quarter, beating the consensus estimate of $0.61 by $0.09. Central Pacific Financial had a net margin of 16.10% and a return on equity of 11.44%. Analysts expect that Central Pacific Financial will post 2.29 EPS for the current fiscal year.

Central Pacific Financial Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Friday, February 28th will be paid a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a yield of 3.66%. This is a boost from Central Pacific Financial’s previous quarterly dividend of $0.26. The ex-dividend date is Friday, February 28th. Central Pacific Financial’s dividend payout ratio is 49.52%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. SG Americas Securities LLC boosted its stake in shares of Central Pacific Financial by 7.2% in the 4th quarter. SG Americas Securities LLC now owns 6,643 shares of the financial services provider’s stock valued at $193,000 after buying an additional 448 shares during the period. Algert Global LLC lifted its stake in Central Pacific Financial by 1.4% in the third quarter. Algert Global LLC now owns 41,936 shares of the financial services provider’s stock worth $1,238,000 after acquiring an additional 570 shares during the last quarter. Diversified Trust Co grew its holdings in Central Pacific Financial by 9.8% during the 4th quarter. Diversified Trust Co now owns 8,787 shares of the financial services provider’s stock worth $255,000 after acquiring an additional 783 shares in the last quarter. CWM LLC increased its position in shares of Central Pacific Financial by 77.7% in the 3rd quarter. CWM LLC now owns 3,477 shares of the financial services provider’s stock valued at $103,000 after purchasing an additional 1,520 shares during the last quarter. Finally, nVerses Capital LLC acquired a new stake in shares of Central Pacific Financial in the 3rd quarter valued at $50,000. Hedge funds and other 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.