Central Pacific Financial (NYSE:CPF) Reaches New 52-Week High – Should You Buy?

Central Pacific Financial Corp. (NYSE:CPF) shares reached a new 52-week high during trading on Tuesday . The stock traded as high as $32.21 and last traded at $32.05, with a volume of 3090 shares trading hands. The stock had previously closed at $31.86.

Analyst Upgrades and Downgrades

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

Central Pacific Financial Stock Down 1.0 %

The firm has a 50 day moving average price of $28.36 and a two-hundred day moving average price of $24.66. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.29. The company has a market capitalization of $853.90 million, a price-to-earnings ratio of 15.17 and a beta of 1.14.

Central Pacific Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 29th will be paid a $0.26 dividend. The ex-dividend date is Friday, November 29th. This represents a $1.04 annualized dividend and a dividend yield of 3.30%. Central Pacific Financial’s payout ratio is 49.52%.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in CPF. CWM LLC boosted its holdings in shares of Central Pacific Financial by 221.9% in the second quarter. CWM LLC now owns 1,957 shares of the financial services provider’s stock worth $41,000 after buying an additional 1,349 shares during the period. Allspring Global Investments Holdings LLC grew its holdings in 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 buying an additional 2,161 shares during the last quarter. nVerses Capital LLC acquired a new position in Central Pacific Financial during the 3rd quarter valued at $50,000. USA Financial Formulas acquired a new stake in shares of Central Pacific Financial during the 3rd quarter worth approximately $81,000. Finally, SG Americas Securities LLC acquired a new stake in Central Pacific Financial during the 3rd quarter valued at $183,000. Institutional investors and hedge funds own 88.42% of the company’s stock.

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.