Central Pacific Financial (NYSE:CPF) Stock Crosses Above Two Hundred Day Moving Average – Here’s What Happened

Central Pacific Financial Corp. (NYSE:CPF) shares passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $28.72 and traded as high as $29.26. Central Pacific Financial shares last traded at $28.35, with a volume of 251,886 shares trading hands.

Analyst Upgrades and Downgrades

Separately, StockNews.com upgraded shares of Central Pacific Financial from a “sell” rating to a “hold” rating in a research note on Thursday, February 13th.

Central Pacific Financial Trading Down 2.0 %

The stock’s fifty day simple moving average is $28.78 and its 200-day simple moving average is $28.72. The firm has a market cap of $767.52 million, a PE ratio of 14.39 and a beta of 1.19. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.85 and a quick ratio of 0.85.

Central Pacific Financial (NYSE:CPF) last posted its quarterly earnings results on Wednesday, January 29th. The financial services provider reported $0.70 earnings per share (EPS) 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, sell-side analysts forecast that Central Pacific Financial Corp. will post 2.75 earnings per share for the current year.

Central Pacific Financial Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Friday, February 28th will be issued a $0.27 dividend. The ex-dividend date is Friday, February 28th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 3.81%. This is a boost from Central Pacific Financial’s previous quarterly dividend of $0.26. Central Pacific Financial’s dividend payout ratio (DPR) is currently 52.79%.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the business. Mackenzie Financial Corp purchased a new position in shares of Central Pacific Financial during the fourth quarter worth $557,000. Rafferty Asset Management LLC raised its holdings in shares of Central Pacific Financial by 30.6% during the fourth quarter. Rafferty Asset Management LLC now owns 45,136 shares of the financial services provider’s stock worth $1,311,000 after purchasing an additional 10,563 shares during the last quarter. ProShare Advisors LLC purchased a new position in shares of Central Pacific Financial during the fourth quarter worth $234,000. Nuveen Asset Management LLC raised its holdings in shares of Central Pacific Financial by 3.3% during the fourth quarter. Nuveen Asset Management LLC now owns 421,317 shares of the financial services provider’s stock worth $12,239,000 after purchasing an additional 13,406 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Central Pacific Financial by 3.4% during 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 purchasing an additional 493 shares during the last quarter. Hedge funds and other institutional investors own 88.42% of the company’s stock.

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.