News stories about Central Pacific Financial (NYSE:CPF) have been trending somewhat positive on Friday, according to Accern Sentiment Analysis. The research firm ranks the sentiment of news coverage by analyzing more than 20 million blog and news sources in real-time. Accern ranks coverage of publicly-traded companies on a scale of negative one to positive one, with scores nearest to one being the most favorable. Central Pacific Financial earned a news sentiment score of 0.05 on Accern’s scale. Accern also assigned news articles about the financial services provider an impact score of 45.8689475136474 out of 100, indicating that recent news coverage is somewhat unlikely to have an effect on the company’s share price in the near future.
Separately, Zacks Investment Research cut shares of Central Pacific Financial from a “hold” rating to a “sell” rating in a research report on Friday, November 3rd.
Shares of Central Pacific Financial (CPF) opened at $30.85 on Friday. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.75 and a quick ratio of 0.75. Central Pacific Financial has a 52 week low of $27.34 and a 52 week high of $33.55. The stock has a market cap of $900.23, a price-to-earnings ratio of 19.40 and a beta of 1.19.
Central Pacific Financial declared that its board has authorized a stock repurchase program on Wednesday, November 15th that permits the company to buyback $50.00 million in outstanding shares. This buyback authorization permits the financial services provider to purchase shares of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.
The firm also recently declared a quarterly dividend, which was paid on Friday, December 15th. Shareholders of record on Thursday, November 30th were paid a $0.18 dividend. The ex-dividend date of this dividend was Wednesday, November 29th. This represents a $0.72 annualized dividend and a yield of 2.33%. Central Pacific Financial’s payout ratio is currently 45.28%.
In other news, insider Blenn Fujimoto sold 3,350 shares of the business’s stock in a transaction dated Tuesday, November 7th. The shares were sold at an average price of $30.19, for a total transaction of $101,136.50. Following the transaction, the insider now directly owns 16,686 shares in the company, valued at approximately $503,750.34. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 4.10% of the stock is owned by insiders.
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About Central Pacific Financial
Central Pacific Financial Corp. is the bank holding company of Central Pacific Bank (the Bank). The Company’s segments include Banking Operations, Treasury and All Others. The Banking Operations segment includes construction and real estate development lending, commercial lending, residential mortgage lending, consumer lending, trust services, retail brokerage services and its retail branch offices, which provide a range of deposit and loan products, as well as various other banking services.
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