Central Pacific Financial Corp. (CPF) to Issue Quarterly Dividend of $0.27 on March 17th

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

Central Pacific Financial has increased its dividend payment by an average of 2.7% annually over the last three years. Central Pacific Financial has a dividend payout ratio of 37.5% indicating that its dividend is sufficiently covered by earnings. Equities 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 Trading Up 5.4 %

Shares of Central Pacific Financial stock traded up $1.51 during mid-day trading on Thursday, hitting $29.51. 378,780 shares of the stock were exchanged, compared to its average volume of 234,467. The stock 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 twelve month low of $18.00 and a twelve month 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 has a 50-day simple moving average of $29.47 and a 200 day simple moving average of $28.19.

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

Wall Street Analysts Forecast Growth

Separately, StockNews.com lowered Central Pacific Financial from a “hold” rating to a “sell” rating in a research note 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.