Central Pacific Financial Inc. (CPF) Upgraded at Zacks Investment Research
Central Pacific Financial Inc. (NYSE:CPF) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued on Friday.
According to Zacks, “Central Pacific Financial Corp. is a Hawaii-based bank holding company. Central Pacific Bank, its subsidiary, is Hawaii’s third largest commercial bank. “
Several other equities research analysts have also weighed in on CPF. Compass Point lowered Central Pacific Financial from a “buy” rating to a “neutral” rating in a research note on Friday. Raymond James Financial Inc. raised their price objective on Central Pacific Financial from $25.00 to $26.00 and gave the stock an “outperform” rating in a research note on Tuesday, August 2nd. Four research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $25.80.
Shares of Central Pacific Financial (NYSE:CPF) traded up 1.37% during midday trading on Friday, reaching $30.38. The company’s stock had a trading volume of 168,000 shares. The stock has a market capitalization of $939.65 million, a PE ratio of 20.97 and a beta of 1.07. Central Pacific Financial has a 52 week low of $18.47 and a 52 week high of $30.71. The stock has a 50-day moving average price of $26.04 and a 200 day moving average price of $24.69.
Central Pacific Financial (NYSE:CPF) last issued its quarterly earnings results on Thursday, October 27th. The financial services provider reported $0.37 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.38 by $0.01. Central Pacific Financial had a net margin of 22.03% and a return on equity of 8.96%. During the same period last year, the firm earned $0.38 EPS. Equities analysts forecast that Central Pacific Financial will post $1.47 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 15th. Stockholders of record on Wednesday, November 30th will be given a $0.16 dividend. The ex-dividend date of this dividend is Monday, November 28th. This represents a $0.64 annualized dividend and a dividend yield of 2.11%. Central Pacific Financial’s dividend payout ratio (DPR) is presently 44.14%.
In other news, insider Lance A. Mizumoto sold 19,950 shares of the firm’s stock in a transaction on Friday, August 26th. The stock was sold at an average price of $25.25, for a total value of $503,737.50. Following the completion of the sale, the insider now owns 69,427 shares of the company’s stock, valued at $1,753,031.75. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 4.20% of the stock is owned by insiders.
Several hedge funds have recently modified their holdings of the company. Teacher Retirement System of Texas boosted its stake in shares of Central Pacific Financial by 14.0% in the second quarter. Teacher Retirement System of Texas now owns 4,388 shares of the financial services provider’s stock valued at $104,000 after buying an additional 540 shares during the period. SG Americas Securities LLC acquired a new stake in shares of Central Pacific Financial during the third quarter valued at approximately $122,000. Mason Street Advisors LLC acquired a new stake in shares of Central Pacific Financial during the second quarter valued at approximately $143,000. Municipal Employees Retirement System of Michigan boosted its stake in shares of Central Pacific Financial by 1.6% in the third quarter. Municipal Employees Retirement System of Michigan now owns 6,890 shares of the financial services provider’s stock valued at $174,000 after buying an additional 110 shares during the period. Finally, Sei Investments Co. boosted its stake in shares of Central Pacific Financial by 173.6% in the second quarter. Sei Investments Co. now owns 7,121 shares of the financial services provider’s stock valued at $168,000 after buying an additional 4,518 shares during the period. 93.53% of the stock is owned by institutional investors and hedge funds.
Central Pacific Financial Company Profile
Central Pacific Financial Corp. serves as the bank holding company for its bank subsidiary, Central Pacific Bank (the bank). The Company’s segments include Banking Operations, Treasury and All Others. The Banking Operations segment includes construction and commercial real estate lending, commercial lending, residential mortgage lending, consumer lending, trust services, retail brokerage services, and the Company’s retail branch offices, which provide a range of deposit and loan products, as well as various other banking services.
Receive News & Stock Ratings for Central Pacific Financial Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Central Pacific Financial Inc. and related stocks with our FREE daily email newsletter.