Central Pacific Financial (NYSE:CPF) Reaches New 52-Week High – Here’s What Happened

Central Pacific Financial Corp. (NYSE:CPF)’s share price reached a new 52-week high during trading on Tuesday . The company traded as high as $29.71 and last traded at $29.58, with a volume of 35419 shares. The stock had previously closed at $29.11.

Central Pacific Financial Price Performance

The firm has a market capitalization of $803.42 million, a P/E ratio of 14.43 and a beta of 1.13. The company has a fifty day moving average of $27.26 and a 200 day moving average of $23.30. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.86 and a quick ratio of 0.86.

Central Pacific Financial (NYSE:CPF) last posted its quarterly earnings data on Wednesday, July 31st. The financial services provider reported $0.58 EPS for the quarter, beating analysts’ consensus estimates of $0.48 by $0.10. Central Pacific Financial had a net margin of 16.44% and a return on equity of 11.36%. The company had revenue of $87.96 million for the quarter, compared to analyst estimates of $61.74 million. During the same period in the prior year, the firm posted $0.53 EPS. Sell-side analysts predict that Central Pacific Financial Corp. will post 2.2 earnings per share for the current year.

Central Pacific Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Friday, August 30th were given a $0.26 dividend. This represents a $1.04 annualized dividend and a dividend yield of 3.50%. The ex-dividend date of this dividend was Friday, August 30th. Central Pacific Financial’s dividend payout ratio (DPR) is presently 50.73%.

Hedge Funds Weigh In On Central Pacific Financial

Several institutional investors have recently added to or reduced their stakes in CPF. Cadinha & Co. LLC bought a new stake in Central Pacific Financial in the third quarter valued at $225,000. USA Financial Formulas acquired a new stake in shares of Central Pacific Financial in the 3rd quarter valued at about $81,000. CWM LLC increased its position in Central Pacific Financial by 77.7% in the 3rd quarter. CWM LLC now owns 3,477 shares of the financial services provider’s stock valued at $103,000 after buying an additional 1,520 shares in the last quarter. Diversified Trust Co acquired a new position in Central Pacific Financial during the 3rd quarter worth approximately $236,000. Finally, SG Americas Securities LLC acquired a new position in Central Pacific Financial during the 3rd quarter worth approximately $183,000. 88.42% of the stock is owned by institutional investors and hedge funds.

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.