Central Pacific Financial (NYSE:CPF) Stock Passes Above 200-Day Moving Average of $19.72

Central Pacific Financial Corp. (NYSE:CPF)’s share price crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $19.72 and traded as high as $21.48. Central Pacific Financial shares last traded at $21.00, with a volume of 128,966 shares traded.

Central Pacific Financial Stock Down 1.9 %

The company has a current ratio of 0.86, a quick ratio of 0.85 and a debt-to-equity ratio of 0.37. The firm has a market capitalization of $567.84 million, a P/E ratio of 10.24 and a beta of 1.13. The stock’s 50-day simple moving average is $20.61 and its 200-day simple moving average is $19.72.

Central Pacific Financial (NYSE:CPF) last announced its earnings results on Wednesday, April 24th. The financial services provider reported $0.48 earnings per share for the quarter, topping analysts’ consensus estimates of $0.45 by $0.03. The firm had revenue of $61.43 million for the quarter, compared to the consensus estimate of $60.78 million. Central Pacific Financial had a return on equity of 11.34% and a net margin of 16.44%. As a group, research analysts predict that Central Pacific Financial Corp. will post 2 earnings per share for the current fiscal year.

Central Pacific Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 17th. Shareholders of record on Friday, May 31st were paid a $0.26 dividend. The ex-dividend date of this dividend was Friday, May 31st. This represents a $1.04 dividend on an annualized basis and a yield of 4.95%. Central Pacific Financial’s dividend payout ratio (DPR) is presently 50.73%.

Insider Activity

In related news, Director Agnes Catherine Ngo sold 3,333 shares of the stock in a transaction dated Friday, April 12th. The shares were sold at an average price of $19.00, for a total transaction of $63,327.00. Following the completion of the transaction, the director now owns 85,356 shares in the company, valued at $1,621,764. The transaction was disclosed in a document filed with the SEC, which is available through this link. Insiders own 2.30% of the company’s stock.

Hedge Funds Weigh In On Central Pacific Financial

Several institutional investors have recently bought and sold shares of the company. Boston Partners purchased a new position in shares of Central Pacific Financial during the 1st quarter valued at $740,000. EMC Capital Management purchased a new stake in Central Pacific Financial during the first quarter valued at about $228,000. Hancock Whitney Corp purchased a new stake in Central Pacific Financial during the first quarter valued at about $272,000. Price T Rowe Associates Inc. MD boosted its position in Central Pacific Financial by 4.2% during the first quarter. Price T Rowe Associates Inc. MD now owns 25,507 shares of the financial services provider’s stock worth $504,000 after purchasing an additional 1,020 shares during the period. Finally, O Shaughnessy Asset Management LLC increased its stake in shares of Central Pacific Financial by 5.7% in the first quarter. O Shaughnessy Asset Management LLC now owns 58,190 shares of the financial services provider’s stock worth $1,149,000 after purchasing an additional 3,138 shares in 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.