Central Pacific Financial (NYSE:CPF) Cut to “Sell” at StockNews.com

StockNews.com cut shares of Central Pacific Financial (NYSE:CPF) from a hold rating to a sell rating in a report published on Tuesday morning.

Central Pacific Financial Trading Down 0.6 %

Central Pacific Financial stock opened at $30.98 on Tuesday. Central Pacific Financial has a 12-month low of $18.00 and a 12-month high of $33.25. The stock has a market capitalization of $838.47 million, a PE ratio of 14.75 and a beta of 1.18. The firm has a 50 day simple moving average of $30.04 and a 200-day simple moving average of $26.30. 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 company also recently disclosed 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. This represents a $1.04 dividend on an annualized basis and a dividend yield of 3.36%. The ex-dividend date is Friday, November 29th. Central Pacific Financial’s dividend payout ratio is presently 49.52%.

Institutional Investors Weigh In On Central Pacific Financial

Several hedge funds and other institutional investors have recently bought and sold shares of the business. CWM LLC increased 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 valued at $41,000 after buying an additional 1,349 shares in the last quarter. nVerses Capital LLC acquired a new stake in shares of Central Pacific Financial during the third quarter worth $50,000. Quarry LP acquired a new stake in shares of Central Pacific Financial during the third quarter worth $53,000. USA Financial Formulas purchased a new stake in shares of Central Pacific Financial during the third quarter valued at $81,000. Finally, SG Americas Securities LLC acquired a new position in shares of Central Pacific Financial in the 3rd quarter valued at $183,000. 88.42% of the stock is currently owned by institutional investors.

Central Pacific Financial Company Profile

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.