Central Pacific Financial (NYSE:CPF) Trading Down 3.4% – Should You Sell?

Shares of Central Pacific Financial Corp. (NYSE:CPF) were down 3.4% during trading on Thursday . The stock traded as low as $28.04 and last traded at $28.05. Approximately 52,114 shares traded hands during mid-day trading, a decline of 74% from the average daily volume of 199,837 shares. The stock had previously closed at $29.05.

Analysts Set New Price Targets

Separately, StockNews.com cut shares of Central Pacific Financial from a “hold” rating to a “sell” rating in a report on Tuesday, December 10th.

Central Pacific Financial Stock Down 4.7 %

The firm has a market capitalization of $749.43 million, a P/E ratio of 13.19 and a beta of 1.18. The stock has a fifty day moving average of $30.12 and a 200 day moving average of $27.22. The company has a debt-to-equity ratio of 0.29, a current ratio of 0.85 and a quick ratio of 0.85.

Central Pacific Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Friday, November 29th were given a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a dividend yield of 3.76%. The ex-dividend date of this dividend was Friday, November 29th. Central Pacific Financial’s dividend payout ratio is currently 49.52%.

Institutional Trading of Central Pacific Financial

Hedge funds have recently made changes to their positions in the company. nVerses Capital LLC bought a new position in shares of Central Pacific Financial in the third quarter worth $50,000. Quarry LP bought a new position in Central Pacific Financial in the 3rd quarter worth about $53,000. USA Financial Formulas purchased a new position in Central Pacific Financial during the 3rd quarter valued at about $81,000. CWM LLC increased its position in shares of Central Pacific Financial by 77.7% during the third 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 during the period. Finally, SG Americas Securities LLC purchased a new stake in shares of Central Pacific Financial in the third quarter worth about $183,000. 88.42% of the stock is currently owned by institutional investors.

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.