Central Pacific Financial Corp. (NYSE:CPF) Announces Quarterly Dividend of $0.27

Central Pacific Financial Corp. (NYSE:CPF) declared a quarterly dividend on Tuesday, January 28th,Wall Street Journal reports. Shareholders of record on Friday, February 28th will be paid a dividend of 0.27 per share by the financial services provider on Monday, March 17th. This represents a $1.08 annualized dividend and a yield of 3.66%. The ex-dividend date is Friday, February 28th. This is a positive change from Central Pacific Financial’s previous quarterly dividend of $0.26.

Central Pacific Financial has increased its dividend by an average of 2.7% per year over the last three years. Central Pacific Financial has a payout ratio of 37.5% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Central Pacific Financial to earn $2.55 per share next year, which means the company should continue to be able to cover its $1.08 annual dividend with an expected future payout ratio of 42.4%.

Central Pacific Financial Stock Up 5.4 %

Shares of CPF traded up $1.51 during mid-day trading on Thursday, hitting $29.51. The company’s stock had a trading volume of 378,780 shares, compared to its average volume of 234,467. The firm has a market capitalization of $798.73 million, a price-to-earnings ratio of 14.05 and a beta of 1.19. Central Pacific Financial has a 52-week low of $18.00 and a 52-week high of $33.25. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.29. The company’s 50-day moving average is $29.47 and its 200-day moving average is $28.19.

Central Pacific Financial (NYSE:CPF) last issued its quarterly earnings data on Wednesday, January 29th. The financial services provider reported $0.70 earnings per share for the quarter, beating analysts’ consensus estimates of $0.61 by $0.09. Central Pacific Financial had a return on equity of 11.44% and a net margin of 16.10%. On average, equities research analysts forecast that Central Pacific Financial will post 2.29 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Separately, StockNews.com cut shares of Central Pacific Financial from a “hold” rating to a “sell” rating in a research report on Tuesday.

About Central Pacific Financial

Central Pacific Financial Corp. operates as the bank holding company for Central Pacific Bank that provides a range of commercial banking products and services to businesses, professionals, and individuals in the United States. It offers various deposit products and services, including checking, savings and time deposits, cash management and digital banking, trust, and retail brokerage services, as well as money market accounts and certificates of deposit.