Central Pacific Financial (NYSE:CPF) Stock Crosses Above Two Hundred Day Moving Average – Here’s What Happened

Central Pacific Financial Corp. (NYSE:CPF) shares passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $28.72 and traded as high as $29.26. Central Pacific Financial shares last traded at $28.35, with a volume of 251,886 shares changing hands.

Analysts Set New Price Targets

Separately, StockNews.com raised shares of Central Pacific Financial from a “sell” rating to a “hold” rating in a report on Thursday, February 13th.

Central Pacific Financial Trading Down 2.0 %

The company’s 50-day moving average price is $28.78 and its 200-day moving average price is $28.72. The firm has a market cap of $767.52 million, a price-to-earnings ratio of 14.39 and a beta of 1.19. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.35.

Central Pacific Financial (NYSE:CPF) last announced its earnings results on Wednesday, January 29th. The financial services provider reported $0.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.61 by $0.09. Central Pacific Financial had a net margin of 15.49% and a return on equity of 12.03%. Equities analysts expect that Central Pacific Financial Corp. will post 2.75 EPS for the current fiscal year.

Central Pacific Financial Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Friday, February 28th will be given a $0.27 dividend. This is a positive change from Central Pacific Financial’s previous quarterly dividend of $0.26. The ex-dividend date of this dividend is Friday, February 28th. This represents a $1.08 annualized dividend and a dividend yield of 3.81%. Central Pacific Financial’s dividend payout ratio (DPR) is 52.79%.

Institutional Trading of Central Pacific Financial

Institutional investors have recently modified their holdings of the stock. Picton Mahoney Asset Management acquired a new stake in shares of Central Pacific Financial in the fourth quarter valued at about $30,000. SBI Securities Co. Ltd. acquired a new position in Central Pacific Financial during the fourth quarter worth about $31,000. Quarry LP acquired a new position in Central Pacific Financial during the third quarter worth about $53,000. Quantbot Technologies LP acquired a new position in Central Pacific Financial during the fourth quarter worth about $55,000. Finally, CWM LLC boosted its position in Central Pacific Financial by 77.7% during the third quarter. CWM LLC now owns 3,477 shares of the financial services provider’s stock worth $103,000 after acquiring an additional 1,520 shares during the last quarter. Institutional investors and hedge funds own 88.42% of the company’s stock.

Central Pacific Financial Company Profile

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.