Central Pacific Financial (NYSE:CPF) Shares Gap Down – Time to Sell?

Shares of Central Pacific Financial Corp. (NYSE:CPF) gapped down before the market opened on Tuesday . The stock had previously closed at $27.04, but opened at $26.32. Central Pacific Financial shares last traded at $26.70, with a volume of 12,088 shares changing hands.

Wall Street Analyst Weigh In

Separately, StockNews.com upgraded shares of Central Pacific Financial from a “sell” rating to a “hold” rating in a research report on Thursday, March 20th.

Central Pacific Financial Stock Up 1.3 %

The company has a debt-to-equity ratio of 0.35, a current ratio of 0.85 and a quick ratio of 0.85. The company has a 50-day moving average of $28.31 and a two-hundred day moving average of $28.94. The company has a market capitalization of $741.08 million, a PE ratio of 13.87 and a beta of 1.17.

Central Pacific Financial (NYSE:CPF) last released its earnings results on Wednesday, January 29th. The financial services provider reported $0.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.61 by $0.09. Central Pacific Financial had a net margin of 15.49% and a return on equity of 12.03%. Sell-side analysts anticipate that Central Pacific Financial Corp. will post 2.75 earnings per share for the current fiscal year.

Central Pacific Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Friday, February 28th were given a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a dividend yield of 3.95%. This is an increase from Central Pacific Financial’s previous quarterly dividend of $0.26. The ex-dividend date was Friday, February 28th. Central Pacific Financial’s dividend payout ratio (DPR) is presently 54.82%.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. JPMorgan Chase & Co. grew its holdings in Central Pacific Financial by 6.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 431,498 shares of the financial services provider’s stock valued at $12,734,000 after buying an additional 26,139 shares in the last quarter. Geode Capital Management LLC grew its stake in Central Pacific Financial by 4.0% during the third quarter. Geode Capital Management LLC now owns 640,369 shares of the financial services provider’s stock valued at $18,901,000 after acquiring an additional 24,686 shares in the last quarter. Barclays PLC increased its holdings in Central Pacific Financial by 84.3% in the 3rd quarter. Barclays PLC now owns 58,493 shares of the financial services provider’s stock valued at $1,726,000 after acquiring an additional 26,755 shares during the last quarter. Y Intercept Hong Kong Ltd purchased a new stake in Central Pacific Financial in the 4th quarter worth $413,000. Finally, Jane Street Group LLC boosted its holdings in shares of Central Pacific Financial by 62.7% during the 3rd quarter. Jane Street Group LLC now owns 40,463 shares of the financial services provider’s stock valued at $1,194,000 after purchasing an additional 15,599 shares during the last quarter. Institutional investors own 88.42% of the company’s stock.

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.