Central Pacific Financial Inc. (CPF) Reaches New 52-Week High at $25.89
Central Pacific Financial Inc. (NYSE:CPF) hit a new 52-week high during trading on Monday . The stock traded as high as $25.89 and last traded at $25.89, with a volume of 106,800 shares trading hands. The stock had previously closed at $25.56.
A number of research firms recently commented on CPF. Compass Point assumed coverage on shares of Central Pacific Financial in a research note on Thursday, August 11th. They set a “neutral” rating and a $26.00 price objective on the stock. Zacks Investment Research raised shares of Central Pacific Financial from a “hold” rating to a “buy” rating and set a $28.00 target price for the company in a research note on Wednesday, August 3rd. Raymond James Financial Inc. lifted their target price on shares of Central Pacific Financial from $25.00 to $26.00 and gave the company an “outperform” rating in a research note on Tuesday, August 2nd. Finally, Piper Jaffray Cos. initiated coverage on shares of Central Pacific Financial in a research note on Friday, July 8th. They set a “neutral” rating and a $25.00 target price for the company. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $25.00.
The firm’s 50-day moving average price is $24.84 and its 200-day moving average price is $22.92. The firm has a market cap of $802.28 million and a price-to-earnings ratio of 17.72.
Central Pacific Financial (NYSE:CPF) last released its quarterly earnings results on Thursday, July 28th. The financial services provider reported $0.39 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.35 by $0.04. During the same quarter last year, the firm posted $0.39 earnings per share. Analysts forecast that Central Pacific Financial Inc. will post $1.48 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, September 15th. Stockholders of record on Wednesday, August 31st will be issued a $0.16 dividend. This represents a $0.64 annualized dividend and a dividend yield of 2.47%. The ex-dividend date is Monday, August 29th. This is a boost from Central Pacific Financial’s previous quarterly dividend of $0.14.
In other news, insider Lance A. Mizumoto sold 19,950 shares of the company’s stock in a transaction that occurred on Friday, August 26th. The shares were sold at an average price of $25.25, for a total value of $503,737.50. Following the completion of the transaction, the insider now owns 69,427 shares in the company, valued at $1,753,031.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Wayne K. Kamitaki purchased 3,500 shares of Central Pacific Financial stock in a transaction dated Wednesday, August 3rd. The stock was bought at an average price of $24.54 per share, with a total value of $85,890.00. Following the acquisition, the director now directly owns 289 shares of the company’s stock, valued at $7,092.06. The disclosure for this purchase can be found here.
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.
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