Central Pacific Financial Corp. (NYSE:CPF) announced a quarterly dividend on Tuesday, July 28th, Zacks reports. Shareholders of record on Monday, August 31st will be given a dividend of 0.23 per share by the financial services provider on Tuesday, September 15th. This represents a $0.92 dividend on an annualized basis and a yield of 5.94%. The ex-dividend date is Friday, August 28th.
Central Pacific Financial has increased its dividend by an average of 50.0% per year over the last three years and has raised its dividend every year for the last 4 years. Central Pacific Financial has a payout ratio of 78.6% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall. Equities analysts expect Central Pacific Financial to earn $0.98 per share next year, which means the company should continue to be able to cover its $0.92 annual dividend with an expected future payout ratio of 93.9%.
Shares of NYSE:CPF traded down $0.12 on Thursday, reaching $15.48. 1,112 shares of the company were exchanged, compared to its average volume of 184,745. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.29. Central Pacific Financial has a 1-year low of $12.40 and a 1-year high of $30.56. The firm has a market cap of $436.55 million, a price-to-earnings ratio of 8.81 and a beta of 1.26. The company has a 50-day moving average of $15.52 and a 200-day moving average of $19.27.
Central Pacific Financial (NYSE:CPF) last announced its quarterly earnings data on Wednesday, July 29th. The financial services provider reported $0.35 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.22 by $0.13. Central Pacific Financial had a net margin of 19.76% and a return on equity of 9.63%. As a group, analysts forecast that Central Pacific Financial will post 1.36 earnings per share for the current year.
In related news, Director Crystal Rose bought 1,900 shares of Central Pacific Financial stock in a transaction that occurred on Thursday, June 11th. The shares were purchased at an average price of $17.44 per share, with a total value of $33,136.00. Following the purchase, the director now owns 27,175 shares in the company, valued at $473,932. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 3.70% of the stock is currently owned by corporate insiders.
Several brokerages recently issued reports on CPF. Zacks Investment Research raised Central Pacific Financial from a “hold” rating to a “buy” rating and set a $18.00 price objective for the company in a report on Tuesday, June 23rd. ValuEngine raised Central Pacific Financial from a “sell” rating to a “hold” rating in a research note on Thursday, July 2nd. Finally, Compass Point raised shares of Central Pacific Financial from a “neutral” rating to a “buy” rating in a research note on Thursday, April 23rd.
Central Pacific Financial Company Profile
Central Pacific Financial Corp. operates as the holding company for Central Pacific Bank that provides commercial banking products and services to businesses, professionals, and individuals in Hawaii. The company operates in three segments: Banking Operations, Treasury, and All Others. It offers various deposit products and services, including personal and business checking and savings accounts, money market accounts, and time certificates of deposit.
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