Central Pacific Financial (NYSE:CPF) Stock Price Down 3.4% – What’s Next?

Central Pacific Financial Corp. (NYSE:CPF)’s stock price was down 3.4% on Thursday . The stock traded as low as $28.04 and last traded at $28.05. Approximately 52,114 shares traded hands during mid-day trading, a decline of 74% from the average daily volume of 199,837 shares. The stock had previously closed at $29.05.

Wall Street Analyst Weigh In

Separately, StockNews.com cut Central Pacific Financial from a “hold” rating to a “sell” rating in a report on Tuesday, December 10th.

Central Pacific Financial Trading Up 1.1 %

The business’s 50 day moving average price is $30.07 and its two-hundred day moving average price is $27.27. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.85 and a current ratio of 0.85. The company has a market capitalization of $748.08 million, a price-to-earnings ratio of 13.16 and a beta of 1.19.

Central Pacific Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Friday, November 29th were given a $0.26 dividend. The ex-dividend date of this dividend was Friday, November 29th. This represents a $1.04 annualized dividend and a yield of 3.76%. Central Pacific Financial’s dividend payout ratio (DPR) is 49.52%.

Institutional Trading of Central Pacific Financial

Several hedge funds and other institutional investors have recently modified their holdings of CPF. nVerses Capital LLC purchased a new position in shares of Central Pacific Financial during the 3rd quarter valued at $50,000. Quarry LP purchased a new position in Central Pacific Financial in the third quarter valued at about $53,000. USA Financial Formulas acquired a new position in Central Pacific Financial in the 3rd quarter worth about $81,000. CWM LLC raised its stake in shares of Central Pacific Financial by 77.7% during the 3rd quarter. CWM LLC now owns 3,477 shares of the financial services provider’s stock worth $103,000 after purchasing an additional 1,520 shares in the last quarter. Finally, SG Americas Securities LLC acquired a new stake in shares of Central Pacific Financial during the 3rd quarter valued at about $183,000. Institutional investors and hedge funds 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.