Central Pacific Financial Inc. (CPF) Reaches New 12-Month High at $24.98
Central Pacific Financial Inc. (NYSE:CPF)’s share price hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $24.98 and last traded at $24.87, with a volume of 42,411 shares trading hands. The stock had previously closed at $24.54.
CPF has been the subject of several recent research reports. Zacks Investment Research cut shares of Central Pacific Financial from a “buy” rating to a “hold” rating in a research report on Monday, July 4th. Piper Jaffray Cos. assumed coverage on shares of Central Pacific Financial in a research report on Friday, July 8th. They set a “neutral” rating and a $25.00 price objective for the company.
The firm has a market cap of $767.38 million and a PE ratio of 16.84. The firm’s 50-day moving average price is $23.71 and its 200-day moving average price is $21.75.
Central Pacific Financial (NYSE:CPF) last issued its earnings results on Thursday, April 28th. The financial services provider reported $0.35 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.33 by $0.02. During the same period in the previous year, the firm earned $0.29 earnings per share. On average, equities research analysts anticipate that Central Pacific Financial Inc. will post $1.45 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Wednesday, June 15th. Shareholders of record on Tuesday, May 31st were issued a $0.14 dividend. This represents a $0.56 annualized dividend and a yield of 2.27%. The ex-dividend date of this dividend was Thursday, May 26th.
In other Central Pacific Financial news, insider Lance A. Mizumoto sold 17,662 shares of the company’s stock in a transaction on Tuesday, May 24th. The stock was sold at an average price of $23.35, for a total value of $412,407.70. Following the completion of the sale, the insider now directly owns 55,225 shares in the company, valued at approximately $1,289,503.75. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Lance A. Mizumoto sold 1,572 shares of the company’s stock in a transaction on Friday, May 20th. The shares were sold at an average price of $23.26, for a total value of $36,564.72. Following the completion of the sale, the insider now owns 48,477 shares of the company’s stock, valued at $1,127,575.02. The disclosure for this sale can be found here.
A number of hedge funds recently modified their holdings of CPF. First Trust Advisors LP boosted its stake in shares of Central Pacific Financial by 79.4% in the fourth quarter. First Trust Advisors LP now owns 47,800 shares of the financial services provider’s stock valued at $1,053,000 after buying an additional 21,152 shares during the last quarter. Bailard Inc. acquired a new position in shares of Central Pacific Financial during the fourth quarter valued at approximately $1,845,000. Pear Tree Advisors Inc. acquired a new position in shares of Central Pacific Financial during the fourth quarter valued at approximately $1,847,000. Bank of Montreal Can raised its position in shares of Central Pacific Financial by 375.6% in the fourth quarter. Bank of Montreal Can now owns 122,419 shares of the financial services provider’s stock valued at $2,695,000 after buying an additional 96,681 shares during the period. Finally, Nationwide Fund Advisors raised its position in shares of Central Pacific Financial by 45.6% in the fourth quarter. Nationwide Fund Advisors now owns 148,325 shares of the financial services provider’s stock valued at $3,266,000 after buying an additional 46,443 shares during the period.
Central Pacific Financial Corp. serves as the bank holding company for its bank subsidiary, Central Pacific Bank (the bank). The Company’s segments include Banking Operations, Treasury and All Others. The Banking Operations segment includes construction and commercial real estate lending, commercial lending, residential mortgage lending, consumer lending, trust services, retail brokerage services, and the Company’s retail branch offices, which provide a range of deposit and loan products, as well as various other banking services.
Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.