Central Pacific Financial (NYSE:CPF) Reaches New 1-Year High at $28.94

Central Pacific Financial Corp. (NYSE:CPF)’s share price hit a new 52-week high during trading on Tuesday . The stock traded as high as $28.94 and last traded at $28.83, with a volume of 116226 shares changing hands. The stock had previously closed at $27.70.

Central Pacific Financial Stock Performance

The firm has a market cap of $784.22 million, a PE ratio of 13.88 and a beta of 1.12. The business has a 50 day simple moving average of $25.92 and a two-hundred day simple moving average of $22.10. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.30.

Central Pacific Financial (NYSE:CPF) last announced its quarterly earnings data on Wednesday, July 31st. The financial services provider reported $0.58 earnings per share for the quarter, beating analysts’ consensus estimates of $0.48 by $0.10. The company had revenue of $87.96 million during the quarter, compared to analyst estimates of $61.74 million. Central Pacific Financial had a net margin of 16.44% and a return on equity of 11.36%. During the same quarter last year, the business posted $0.53 EPS. As a group, equities research analysts forecast that Central Pacific Financial Corp. will post 2.2 earnings per share for the current fiscal year.

Central Pacific Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Friday, August 30th were paid a $0.26 dividend. The ex-dividend date was Friday, August 30th. This represents a $1.04 annualized dividend and a yield of 3.59%. Central Pacific Financial’s dividend payout ratio (DPR) is currently 50.73%.

Insiders Place Their Bets

In other news, Director Agnes Catherine Ngo sold 3,333 shares of the firm’s stock in a transaction on Friday, July 12th. The stock was sold at an average price of $22.67, for a total transaction of $75,559.11. Following the transaction, the director now owns 75,357 shares in the company, valued at $1,708,343.19. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 2.70% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Central Pacific Financial

Hedge funds and other institutional investors have recently modified their holdings of the business. Boston Partners purchased a new stake in Central Pacific Financial during the first quarter valued at approximately $740,000. State Board of Administration of Florida Retirement System purchased a new stake in shares of Central Pacific Financial during the first quarter worth about $409,000. LSV Asset Management increased its holdings in shares of Central Pacific Financial by 9.5% during the first quarter. LSV Asset Management now owns 599,368 shares of the financial services provider’s stock valued at $11,838,000 after acquiring an additional 51,967 shares in the last quarter. Acadian Asset Management LLC raised its position in shares of Central Pacific Financial by 359.7% in the 1st quarter. Acadian Asset Management LLC now owns 462,925 shares of the financial services provider’s stock valued at $9,140,000 after purchasing an additional 362,232 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in Central Pacific Financial by 2.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 842,611 shares of the financial services provider’s stock worth $16,583,000 after purchasing an additional 20,929 shares in the last quarter. 88.42% of the stock is currently owned by institutional investors.

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.