Zacks Investment Research upgraded shares of Central Pacific Financial (NYSE:CPF) from a sell rating to a hold rating in a report issued on Monday morning.
According to Zacks, “Central Pacific Financial Corp. is a Hawaii-based bank holding company. Central Pacific Bank, its subsidiary, is Hawaii’s third largest commercial bank. “
Separately, ValuEngine lowered shares of Central Pacific Financial from a hold rating to a sell rating in a report on Monday, June 11th.
Shares of Central Pacific Financial opened at $29.31 on Monday, Marketbeat reports. The firm has a market capitalization of $864.92 million, a PE ratio of 17.71 and a beta of 1.10. Central Pacific Financial has a one year low of $27.34 and a one year high of $33.15. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.76 and a current ratio of 0.77.
Central Pacific Financial (NYSE:CPF) last issued its quarterly earnings results on Wednesday, April 25th. The financial services provider reported $0.48 EPS for the quarter, missing the Zacks’ consensus estimate of $0.49 by ($0.01). The company had revenue of $51.28 million during the quarter, compared to the consensus estimate of $53.00 million. Central Pacific Financial had a return on equity of 9.93% and a net margin of 19.18%. research analysts expect that Central Pacific Financial will post 1.94 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Friday, June 15th. Stockholders of record on Thursday, May 31st were issued a $0.21 dividend. This is a positive change from Central Pacific Financial’s previous quarterly dividend of $0.19. The ex-dividend date of this dividend was Wednesday, May 30th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.87%. Central Pacific Financial’s dividend payout ratio is presently 52.83%.
In other news, insider Arnold D. Martines sold 1,038 shares of the stock in a transaction on Wednesday, June 13th. The shares were sold at an average price of $29.44, for a total value of $30,558.72. Following the transaction, the insider now owns 1,104 shares of the company’s stock, valued at approximately $32,501.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 4.30% of the stock is owned by corporate insiders.
Several hedge funds have recently added to or reduced their stakes in CPF. Cornerstone Capital Management Holdings LLC. bought a new position in shares of Central Pacific Financial during the 4th quarter valued at $193,000. Xact Kapitalforvaltning AB bought a new position in shares of Central Pacific Financial during the 4th quarter valued at $218,000. Teacher Retirement System of Texas bought a new position in shares of Central Pacific Financial during the 4th quarter valued at $310,000. Stone Ridge Asset Management LLC bought a new position in shares of Central Pacific Financial during the 4th quarter valued at $336,000. Finally, HBK Investments L P grew its holdings in shares of Central Pacific Financial by 47.7% during the 4th quarter. HBK Investments L P now owns 12,700 shares of the financial services provider’s stock valued at $379,000 after purchasing an additional 4,100 shares during the last quarter. 92.39% of the stock is currently owned by institutional investors.
Central Pacific Financial Company Profile
Central Pacific Financial Corp. operates as the holding company for Central Pacific Bank that provides commercial banking products and services to businesses, professionals, and individuals in Hawaii. The company operates in three segments: Banking Operations, Treasury, and All Others. It offers various deposit products and services, including personal and business checking and savings accounts, money market accounts, and time certificates of deposit.