Central Pacific Financial Inc. (CPF) Reaches New 12-Month High at $25.67
Shares of Central Pacific Financial Inc. (NYSE:CPF) reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $25.67 and last traded at $25.47, with a volume of 35,106 shares traded. The stock had previously closed at $25.38.
A number of analysts have recently issued reports on the stock. Compass Point assumed coverage on shares of Central Pacific Financial in a research report on Thursday, August 11th. They issued a “neutral” rating and a $26.00 price target for the company. Zacks Investment Research upgraded Central Pacific Financial from a “hold” rating to a “buy” rating and set a $28.00 price objective on the stock in a report on Wednesday, August 3rd. Raymond James Financial Inc. increased their price objective on Central Pacific Financial from $25.00 to $26.00 and gave the stock an “outperform” rating in a report on Tuesday, August 2nd. Finally, Piper Jaffray Cos. started coverage on Central Pacific Financial in a report on Friday, July 8th. They issued a “neutral” rating and a $25.00 price objective on the stock. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $25.00.
The company has a market cap of $792.98 million and a P/E ratio of 17.52. The company’s 50-day moving average is $24.81 and its 200 day moving average is $22.90.
Central Pacific Financial (NYSE:CPF) last posted its earnings results on Thursday, July 28th. The financial services provider reported $0.39 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.35 by $0.04. During the same period last year, the business earned $0.39 EPS. Analysts forecast that Central Pacific Financial Inc. will post $1.48 EPS for the current year.
The business also recently announced 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. This is an increase from Central Pacific Financial’s previous quarterly dividend of $0.14. The ex-dividend date of this dividend is Monday, August 29th. This represents a $0.64 annualized dividend and a dividend yield of 2.50%.
In related news, Director Wayne K. Kamitaki bought 3,500 shares of the firm’s stock in a transaction dated Wednesday, August 3rd. The stock was bought at an average cost of $24.54 per share, for a total transaction of $85,890.00. Following the transaction, the director now owns 289 shares of the company’s stock, valued at $7,092.06. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Lance A. Mizumoto sold 19,950 shares of the business’s stock in a transaction dated Friday, August 26th. The stock was sold at an average price of $25.25, for a total value of $503,737.50. Following the transaction, the insider now owns 69,427 shares of the company’s stock, valued at $1,753,031.75. The disclosure for this sale 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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