Central Pacific Financial (NYSE:CPF) Shares Gap Down – Should You Sell?

Central Pacific Financial Corp. (NYSE:CPF) gapped down before the market opened on Tuesday . The stock had previously closed at $27.04, but opened at $26.32. Central Pacific Financial shares last traded at $26.70, with a volume of 12,088 shares trading hands.

Analysts Set New Price Targets

Separately, StockNews.com upgraded Central Pacific Financial from a “sell” rating to a “hold” rating in a research note on Thursday, March 20th.

Central Pacific Financial Trading Down 0.3 %

The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.35. The company has a fifty day moving average of $28.36 and a two-hundred day moving average of $28.95. The stock has a market capitalization of $731.05 million, a price-to-earnings ratio of 13.69 and a beta of 1.17.

Central Pacific Financial (NYSE:CPF) last issued its quarterly earnings data on Wednesday, January 29th. The financial services provider reported $0.70 earnings per share for the quarter, topping analysts’ consensus estimates of $0.61 by $0.09. Central Pacific Financial had a net margin of 15.49% and a return on equity of 12.03%. On average, research analysts expect that Central Pacific Financial Corp. will post 2.75 EPS for the current year.

Central Pacific Financial Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Friday, February 28th were issued a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a yield of 4.01%. This is a boost from Central Pacific Financial’s previous quarterly dividend of $0.26. The ex-dividend date was Friday, February 28th. Central Pacific Financial’s dividend payout ratio is 54.82%.

Hedge Funds Weigh In On Central Pacific Financial

Institutional investors have recently made changes to their positions in the business. SG Americas Securities LLC grew its holdings in Central Pacific Financial by 7.2% in the 4th quarter. SG Americas Securities LLC now owns 6,643 shares of the financial services provider’s stock valued at $193,000 after buying an additional 448 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Central Pacific Financial by 3.4% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,179 shares of the financial services provider’s stock worth $441,000 after acquiring an additional 493 shares during the last quarter. Sterling Capital Management LLC grew its stake in shares of Central Pacific Financial by 4.4% in the fourth quarter. Sterling Capital Management LLC now owns 17,969 shares of the financial services provider’s stock worth $522,000 after acquiring an additional 762 shares during the last quarter. Diversified Trust Co increased its position in Central Pacific Financial by 9.8% during the fourth quarter. Diversified Trust Co now owns 8,787 shares of the financial services provider’s stock worth $255,000 after acquiring an additional 783 shares during the period. Finally, Hsbc Holdings PLC raised its stake in Central Pacific Financial by 3.7% during the 4th quarter. Hsbc Holdings PLC now owns 26,575 shares of the financial services provider’s stock valued at $766,000 after purchasing an additional 940 shares during the last quarter. 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.