Central Pacific Financial (NYSE:CPF) Downgraded by StockNews.com to “Sell”

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

Central Pacific Financial Stock Up 2.8 %

CPF stock opened at $27.14 on Wednesday. Central Pacific Financial has a 12-month low of $18.35 and a 12-month high of $33.25. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.35. The company has a market cap of $734.44 million, a price-to-earnings ratio of 13.77 and a beta of 1.17. The company has a 50 day moving average of $28.48 and a two-hundred day moving average of $28.94.

Central Pacific Financial (NYSE:CPF) last released its quarterly earnings results on Wednesday, January 29th. The financial services provider reported $0.70 earnings per share for the quarter, beating analysts’ consensus estimates of $0.61 by $0.09. Central Pacific Financial had a net margin of 15.49% and a return on equity of 12.03%. On average, equities analysts anticipate that Central Pacific Financial will post 2.75 earnings per share for the current fiscal year.

Central Pacific Financial Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Friday, February 28th will be issued a dividend of $0.27 per share. The ex-dividend date is Friday, February 28th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 3.98%. This is an increase from Central Pacific Financial’s previous quarterly dividend of $0.26. Central Pacific Financial’s dividend payout ratio (DPR) is currently 54.82%.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Picton Mahoney Asset Management bought a new position in Central Pacific Financial in the 4th quarter worth $30,000. SBI Securities Co. Ltd. acquired a new stake in Central Pacific Financial in the 4th quarter worth $31,000. Quarry LP acquired a new stake in Central Pacific Financial in the 3rd quarter worth $53,000. Quantbot Technologies LP acquired a new stake in Central Pacific Financial in the 4th quarter worth $55,000. Finally, KLP Kapitalforvaltning AS acquired a new stake in Central Pacific Financial in the 4th quarter worth $168,000. Institutional investors own 88.42% of the company’s stock.

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.