Central Pacific Financial (NYSE:CPF) Lowered to Sell Rating by StockNews.com

StockNews.com downgraded shares of Central Pacific Financial (NYSE:CPF) from a hold rating to a sell rating in a research note released on Tuesday morning.

Central Pacific Financial Trading Up 5.4 %

NYSE CPF opened at $29.51 on Tuesday. The firm has a market capitalization of $798.73 million, a PE ratio of 14.05 and a beta of 1.19. Central Pacific Financial has a one year low of $18.00 and a one year high of $33.25. The company has a 50-day simple moving average of $29.43 and a 200-day simple moving average of $28.20. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.85 and a current ratio of 0.85.

Central Pacific Financial (NYSE:CPF) last posted its earnings results on Wednesday, January 29th. The financial services provider reported $0.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.61 by $0.09. Central Pacific Financial had a return on equity of 11.44% and a net margin of 16.10%. On average, equities analysts forecast that Central Pacific Financial will post 2.29 earnings per share for the current year.

Central Pacific Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Friday, February 28th will be issued a $0.27 dividend. The ex-dividend date is Friday, February 28th. This is a boost from Central Pacific Financial’s previous quarterly dividend of $0.26. This represents a $1.08 annualized dividend and a dividend yield of 3.66%. Central Pacific Financial’s dividend payout ratio (DPR) is 49.52%.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Dimensional Fund Advisors LP increased its holdings in shares of Central Pacific Financial by 5.9% in the second quarter. Dimensional Fund Advisors LP now owns 1,404,043 shares of the financial services provider’s stock valued at $29,765,000 after buying an additional 77,868 shares in the last quarter. Sei Investments Co. raised its position in shares of Central Pacific Financial by 77.9% during the second quarter. Sei Investments Co. now owns 31,084 shares of the financial services provider’s stock worth $659,000 after purchasing an additional 13,609 shares during the period. Public Sector Pension Investment Board raised its position in shares of Central Pacific Financial by 6.0% during the second quarter. Public Sector Pension Investment Board now owns 59,486 shares of the financial services provider’s stock worth $1,261,000 after purchasing an additional 3,361 shares during the period. Algert Global LLC lifted its holdings in shares of Central Pacific Financial by 7.0% during the second quarter. Algert Global LLC now owns 41,366 shares of the financial services provider’s stock valued at $877,000 after purchasing an additional 2,717 shares during the last quarter. Finally, Truist Financial Corp boosted its position in shares of Central Pacific Financial by 14.1% in the 2nd quarter. Truist Financial Corp now owns 17,113 shares of the financial services provider’s stock valued at $363,000 after purchasing an additional 2,110 shares during the period. 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.