Today, Central Pacific Financial Inc. (CPF) to Issue Quarterly Dividend of $0.16 on December 15th

Today, Central Pacific Financial Inc. (CPF) to Issue Quarterly Dividend of $0.16 on  December 15th

Central Pacific Financial Inc. (NYSE:CPF) announced a quarterly dividend on Thursday, October 27th. Stockholders of record on Wednesday, November 30th will be paid a dividend of 0.16 per share by the financial services provider on Thursday, December 15th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 2.11%. The ex-dividend date is Monday, November 28th.

Shares of Central Pacific Financial (NYSE:CPF) opened at 30.38 on Friday. The stock has a 50 day moving average of $26.79 and a 200-day moving average of $24.97. The stock has a market cap of $936.62 million, a PE ratio of 20.97 and a beta of 1.07. Central Pacific Financial has a 52 week low of $18.47 and a 52 week high of $30.71.

Central Pacific Financial (NYSE:CPF) last released its earnings results on Thursday, October 27th. The financial services provider reported $0.37 EPS for the quarter, missing analysts’ consensus estimates of $0.38 by $0.01. Central Pacific Financial had a return on equity of 8.96% and a net margin of 22.03%. During the same quarter in the prior year, the firm posted $0.38 EPS. Equities research analysts predict that Central Pacific Financial will post $1.47 earnings per share for the current fiscal year.

In related news, insider John C. Dean sold 10,652 shares of the business’s stock in a transaction on Tuesday, November 22nd. The shares were sold at an average price of $30.25, for a total value of $322,223.00. Following the sale, the insider now owns 8,122 shares in the company, valued at $245,690.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider John C. Dean sold 13,764 shares of the business’s stock in a transaction on Friday, November 25th. The stock was sold at an average price of $30.32, for a total transaction of $417,324.48. Following the completion of the sale, the insider now owns 8,122 shares in the company, valued at approximately $246,259.04. The disclosure for this sale can be found here. 4.20% of the stock is currently owned by corporate insiders.

A number of large investors have recently made changes to their positions in CPF. Vanguard Group Inc. raised its position in Central Pacific Financial by 5.3% in the second quarter. Vanguard Group Inc. now owns 2,883,025 shares of the financial services provider’s stock valued at $68,040,000 after buying an additional 146,149 shares during the last quarter. BlackRock Fund Advisors raised its position in Central Pacific Financial by 12.8% in the second quarter. BlackRock Fund Advisors now owns 1,960,861 shares of the financial services provider’s stock valued at $46,276,000 after buying an additional 222,844 shares during the last quarter. State Street Corp raised its position in Central Pacific Financial by 7.4% in the second quarter. State Street Corp now owns 661,050 shares of the financial services provider’s stock valued at $15,602,000 after buying an additional 45,411 shares during the last quarter. Northern Trust Corp raised its position in Central Pacific Financial by 20.7% in the third quarter. Northern Trust Corp now owns 598,291 shares of the financial services provider’s stock valued at $15,071,000 after buying an additional 102,642 shares during the last quarter. Finally, Panagora Asset Management Inc. raised its position in Central Pacific Financial by 4.3% in the second quarter. Panagora Asset Management Inc. now owns 290,578 shares of the financial services provider’s stock valued at $6,858,000 after buying an additional 11,872 shares during the last quarter. Institutional investors own 94.18% of the company’s stock.

A number of equities research analysts have commented on the stock. Zacks Investment Research cut shares of Central Pacific Financial from a “hold” rating to a “sell” rating in a research note on Friday, November 4th. Raymond James Financial Inc. lifted their price objective on shares of Central Pacific Financial from $25.00 to $26.00 and gave the company an “outperform” rating in a research report on Tuesday, August 2nd. Finally, Compass Point upgraded shares of Central Pacific Financial from a “neutral” rating to a “buy” rating and set a $28.00 price objective on the stock in a research report on Friday, October 28th. One analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company’s stock. Central Pacific Financial currently has a consensus rating of “Hold” and an average price target of $25.80.

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