CPB Inc. (NYSE:CPF) Increases Dividend to $0.31 Per Share

CPB Inc. (NYSE:CPF) announced a quarterly dividend on Tuesday, October 27th. Stockholders of record on Monday, November 30th will be paid a dividend of $0.31 per share by the financial services provider on Tuesday, December 15th. This represents a $1.24 dividend on an annualized basis and a dividend yield of 3.3%. The ex-dividend date of this dividend is Monday, November 30th. This is a 3.3% increase from CPB’s previous quarterly dividend of $0.30.

CPB has a dividend payout ratio of 37.7% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect CPB to earn $3.63 per share next year, which means the company should continue to be able to cover its $1.20 annual dividend with an expected future payout ratio of 33.1%.

CPB Price Performance

NYSE:CPF opened at $37.96 on Thursday. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.84 and a quick ratio of 0.84. The firm has a market cap of $977.36 million, a price-to-earnings ratio of 12.17 and a beta of 0.87. The company has a 50 day moving average price of $37.00 and a 200-day moving average price of $35.33. CPB has a 1-year low of $28.09 and a 1-year high of $40.99.

CPB (NYSE:CPF) last posted its earnings results on Wednesday, October 28th. The financial services provider reported $0.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.85 by $0.03. CPB had a net margin of 22.52% and a return on equity of 14.20%. The firm had revenue of $76.83 million during the quarter, compared to analysts’ expectations of $77.27 million. Equities research analysts forecast that CPB will post 3.32 EPS for the current year.

CPB Company Profile

Central Pacific Financial Corp. is the bank holding company for Central Pacific Bank, a community-focused financial institution headquartered in Honolulu, Hawaii. Central Pacific Bank serves consumers, businesses, nonprofit organizations and government entities, with a focus on customers throughout the Hawaiian Islands.

The bank provides a range of financial products and services, including checking and savings accounts, certificates of deposit, consumer lending, residential mortgages, commercial and small-business loans, commercial real estate financing, and treasury management services.