Central Pacific Financial Corp. (NYSE:CPF) Declares Dividend Increase – $0.27 Per Share

Central Pacific Financial Corp. (NYSE:CPF) announced a quarterly dividend on Tuesday, January 28th, Wall Street Journal reports. Stockholders 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 dividend yield of 3.77%. The ex-dividend date of this dividend is Friday, February 28th. This is a positive change from Central Pacific Financial’s previous quarterly dividend of $0.26.

Central Pacific Financial has raised its dividend payment by an average of 2.7% per year over the last three years. Central Pacific Financial has a dividend payout ratio of 35.4% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Central Pacific Financial to earn $3.05 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 35.4%.

Central Pacific Financial Trading Up 1.1 %

NYSE:CPF opened at $28.67 on Wednesday. Central Pacific Financial has a 12-month low of $18.19 and a 12-month high of $33.25. The firm has a market cap of $775.95 million, a PE ratio of 14.55 and a beta of 1.19. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.35. The stock has a fifty day moving average price of $28.70 and a 200 day moving average price of $28.83.

Central Pacific Financial (NYSE:CPF) last released 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 15.49% and a return on equity of 12.03%. Sell-side analysts anticipate that Central Pacific Financial will post 2.75 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Separately, StockNews.com raised shares of Central Pacific Financial from a “sell” rating to a “hold” rating in a report on Thursday, February 13th.

Central Pacific Financial Company Profile

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.