Central Pacific Financial (NYSE:CPF) Shares Cross Above 200-Day Moving Average – What’s Next?

Shares of Central Pacific Financial Corp. (NYSE:CPF) crossed 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 traded.

Analysts Set New Price Targets

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

Central Pacific Financial Trading Down 2.0 %

The business’s 50-day moving average price is $28.78 and its 200-day moving average price is $28.75. The firm has a market capitalization of $767.37 million, a PE ratio of 14.39 and a beta of 1.19. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.85 and a quick ratio of 0.85.

Central Pacific Financial (NYSE:CPF) last announced its 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 return on equity of 12.03% and a net margin of 15.49%. As a group, analysts expect that Central Pacific Financial Corp. will post 2.75 earnings per share 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. Investors of record on Friday, February 28th will be issued a $0.27 dividend. The ex-dividend date is Friday, February 28th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 3.81%. This is a boost from Central Pacific Financial’s previous quarterly dividend of $0.26. Central Pacific Financial’s dividend payout ratio is currently 54.82%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. boosted its stake in shares of Central Pacific Financial by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 2,124,330 shares of the financial services provider’s stock worth $61,712,000 after purchasing an additional 20,196 shares during the last quarter. American Century Companies Inc. boosted its position in Central Pacific Financial by 13.2% during the fourth quarter. American Century Companies Inc. now owns 659,482 shares of the financial services provider’s stock worth $19,158,000 after acquiring an additional 77,032 shares during the last quarter. Geode Capital Management LLC grew its stake in Central Pacific Financial by 0.6% in the 4th quarter. Geode Capital Management LLC now owns 644,390 shares of the financial services provider’s stock worth $18,724,000 after acquiring an additional 4,021 shares during the period. Renaissance Technologies LLC raised its holdings in Central Pacific Financial by 11.6% in the 4th quarter. Renaissance Technologies LLC now owns 637,053 shares of the financial services provider’s stock valued at $18,506,000 after acquiring an additional 66,053 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its stake in shares of Central Pacific Financial by 36.6% during the 4th quarter. JPMorgan Chase & Co. now owns 589,609 shares of the financial services provider’s stock worth $17,128,000 after purchasing an additional 158,111 shares during the period. 88.42% of the stock is currently owned by institutional investors and hedge funds.

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.