Central Pacific Financial Inc. (CPF) Sets New 12-Month High at $25.67
Central Pacific Financial Inc. (NYSE:CPF) hit a new 52-week high during trading on Tuesday . The company traded as high as $25.67 and last traded at $25.47, with a volume of 35,106 shares changing hands. The stock had previously closed at $25.38.
CPF has been the topic of a number of research analyst reports. Zacks Investment Research upgraded Central Pacific Financial from a “sell” rating to a “hold” rating and set a $26.00 target price on the stock in a report on Tuesday, May 3rd. Piper Jaffray Cos. initiated coverage on Central Pacific Financial in a report on Friday, July 8th. They issued a “neutral” rating and a $25.00 target price on the stock. Raymond James Financial Inc. lifted their target price on Central Pacific Financial from $25.00 to $26.00 and gave the company an “outperform” rating in a report on Tuesday, August 2nd. Finally, Compass Point initiated coverage on Central Pacific Financial in a report on Thursday, August 11th. They issued a “neutral” rating and a $26.00 target price on the stock. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $25.00.
The company has a 50-day moving average price of $24.74 and a 200 day moving average price of $22.84. The company has a market cap of $792.36 million and a P/E ratio of 17.50.
Central Pacific Financial (NYSE:CPF) last announced its quarterly earnings data on Thursday, July 28th. The financial services provider reported $0.39 EPS for the quarter, beating analysts’ consensus estimates of $0.35 by $0.04. During the same period last year, the company posted $0.39 EPS. On average, equities analysts expect that Central Pacific Financial Inc. will post $1.48 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 15th. Stockholders of record on Wednesday, August 31st will be given a dividend of $0.16 per share. The ex-dividend date of this dividend is Monday, August 29th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 2.52%. This is a positive change from Central Pacific Financial’s previous quarterly dividend of $0.14.
In other Central Pacific Financial news, insider Lance A. Mizumoto sold 19,950 shares of the business’s stock in a transaction on Friday, August 26th. The shares were sold at an average price of $25.25, for a total transaction of $503,737.50. Following the sale, the insider now directly owns 69,427 shares of the company’s stock, valued at approximately $1,753,031.75. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Wayne K. Kamitaki bought 3,500 shares of the business’s stock in a transaction on Wednesday, August 3rd. The shares were purchased at an average cost of $24.54 per share, for a total transaction of $85,890.00. Following the completion of the purchase, the director now owns 289 shares in the company, 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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