Central Pacific Financial Corp. (NYSE:CPF) Plans $0.26 Quarterly Dividend

Central Pacific Financial Corp. (NYSE:CPF) announced a quarterly dividend on Tuesday, October 29th,Zacks Dividends reports. Investors of record on Friday, November 29th will be paid a dividend of 0.26 per share by the financial services provider on Monday, December 16th. This represents a $1.04 annualized dividend and a dividend yield of 3.21%. The ex-dividend date is Friday, November 29th.

Central Pacific Financial has raised its dividend payment by an average of 4.2% annually over the last three years. Central Pacific Financial has a payout ratio of 40.8% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Central Pacific Financial to earn $2.55 per share next year, which means the company should continue to be able to cover its $1.04 annual dividend with an expected future payout ratio of 40.8%.

Central Pacific Financial Stock Performance

Shares of CPF stock opened at $32.39 on Thursday. The firm has a market cap of $876.80 million, a P/E ratio of 15.42 and a beta of 1.14. 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 has a fifty-two week low of $16.95 and a fifty-two week high of $33.25. The stock’s 50-day moving average is $29.28 and its two-hundred day moving average is $25.49.

Analyst Ratings Changes

Separately, StockNews.com lowered shares of Central Pacific Financial from a “hold” rating to a “sell” rating in a research report on Wednesday, November 20th.

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.