Central Pacific Financial (NYSE:CPF) Sets New 12-Month High – Here’s Why

Central Pacific Financial Corp. (NYSE:CPF) reached a new 52-week high on Wednesday . The stock traded as high as $30.31 and last traded at $30.12, with a volume of 12108 shares. The stock had previously closed at $27.43.

Analyst Upgrades and Downgrades

Separately, StockNews.com cut Central Pacific Financial from a “hold” rating to a “sell” rating in a research report on Friday, November 1st.

Central Pacific Financial Stock Performance

The firm has a fifty day simple moving average of $28.21 and a 200 day simple moving average of $24.44. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.29. The stock has a market cap of $822.78 million, a price-to-earnings ratio of 14.48 and a beta of 1.14.

Central Pacific Financial Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 29th will be issued a $0.26 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $1.04 annualized dividend and a yield of 3.42%. Central Pacific Financial’s dividend payout ratio (DPR) is 49.52%.

Institutional Investors Weigh In On Central Pacific Financial

Large investors have recently modified their holdings of the stock. nVerses Capital LLC bought a new stake in shares of Central Pacific Financial in the 3rd quarter valued at approximately $50,000. CWM LLC grew its stake in shares of Central Pacific Financial by 221.9% in the 2nd quarter. CWM LLC now owns 1,957 shares of the financial services provider’s stock valued at $41,000 after purchasing an additional 1,349 shares during the period. Allspring Global Investments Holdings LLC grew its stake in shares of Central Pacific Financial by 660.9% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 2,488 shares of the financial services provider’s stock valued at $49,000 after purchasing an additional 2,161 shares during the period. USA Financial Formulas bought a new stake in shares of Central Pacific Financial in the 3rd quarter valued at approximately $81,000. Finally, SG Americas Securities LLC bought a new stake in shares of Central Pacific Financial in the 3rd quarter valued at approximately $183,000. 88.42% of the stock is currently owned by institutional investors.

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.