Central Pacific Financial Corp. (NYSE:CPF – Get Free Report) announced a quarterly dividend on Wednesday, April 24th, Wall Street Journal reports. Shareholders of record on Friday, May 31st will be given a dividend of 0.26 per share by the financial services provider on Monday, June 17th. This represents a $1.04 annualized dividend and a yield of 5.01%. The ex-dividend date is Friday, May 31st.
Central Pacific Financial has raised its dividend by an average of 4.2% per year over the last three years. Central Pacific Financial has a payout ratio of 50.7% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Central Pacific Financial to earn $2.23 per share next year, which means the company should continue to be able to cover its $1.04 annual dividend with an expected future payout ratio of 46.6%.
Central Pacific Financial Stock Performance
NYSE CPF opened at $20.77 on Friday. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.86 and a quick ratio of 0.86. The company’s fifty day moving average is $19.10 and its two-hundred day moving average is $18.53. Central Pacific Financial has a 52-week low of $13.22 and a 52-week high of $22.00. The firm has a market capitalization of $561.62 million, a price-to-earnings ratio of 10.13 and a beta of 1.15.
Insider Activity at Central Pacific Financial
In other Central Pacific Financial news, Director Agnes Catherine Ngo sold 3,333 shares of the business’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $19.45, for a total value of $64,826.85. Following the completion of the transaction, the director now directly owns 92,022 shares of the company’s stock, valued at $1,789,827.90. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders sold 9,999 shares of company stock valued at $192,547 in the last ninety days. Insiders own 2.70% of the company’s stock.
Analysts Set New Price Targets
Separately, Piper Sandler lifted their target price on shares of Central Pacific Financial from $22.00 to $24.00 and gave the company an “overweight” rating in a research report on Thursday, February 1st.
Check Out Our Latest Stock Report on Central Pacific Financial
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.
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