Central Pacific Financial Corp. (NYSE:CPF – Get Free Report) announced a quarterly dividend on Thursday, January 30th,Wall Street Journal reports. Investors of record on Friday, February 28th will be paid a dividend of 0.27 per share by the financial services provider on Monday, March 17th. This represents a $1.08 annualized dividend and a dividend yield of 3.66%. The ex-dividend date is Friday, February 28th. This is an increase from Central Pacific Financial’s previous quarterly dividend of $0.26.
Central Pacific Financial has increased its dividend payment by an average of 2.7% per year over the last three years. Central Pacific Financial has a dividend payout ratio of 37.5% indicating that its dividend is sufficiently covered by earnings. 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 $1.08 annual dividend with an expected future payout ratio of 42.4%.
Central Pacific Financial Stock Performance
NYSE:CPF traded up $1.51 on Thursday, hitting $29.51. The stock had a trading volume of 228,316 shares, compared to its average volume of 224,616. Central Pacific Financial has a 52-week low of $18.00 and a 52-week high of $33.25. The stock has a market cap of $798.73 million, a price-to-earnings ratio of 14.05 and a beta of 1.19. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.29. The business’s 50-day simple moving average is $29.47 and its two-hundred day simple moving average is $28.19.
Analysts Set New Price Targets
Separately, StockNews.com downgraded Central Pacific Financial from a “hold” rating to a “sell” rating in a research report on Tuesday.
View Our Latest Stock Report on Central Pacific Financial
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.
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