Wall Street brokerages forecast that Central Pacific Financial Corp. (NYSE:CPF) will announce earnings of $0.23 per share for the current quarter, according to Zacks. Two analysts have provided estimates for Central Pacific Financial’s earnings. Central Pacific Financial reported earnings per share of $0.47 during the same quarter last year, which suggests a negative year-over-year growth rate of 51.1%. The company is expected to report its next earnings results on Wednesday, July 22nd.
On average, analysts expect that Central Pacific Financial will report full-year earnings of $1.36 per share for the current year, with EPS estimates ranging from $1.18 to $1.54. For the next year, analysts expect that the firm will post earnings of $0.98 per share, with EPS estimates ranging from $0.80 to $1.15. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of research firms that that provide coverage for Central Pacific Financial.
Central Pacific Financial (NYSE:CPF) last posted its quarterly earnings data on Wednesday, April 22nd. The financial services provider reported $0.29 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.29. The firm had revenue of $56.72 million during the quarter, compared to the consensus estimate of $56.10 million. Central Pacific Financial had a net margin of 19.76% and a return on equity of 9.63%.
A number of analysts have recently weighed in on CPF shares. ValuEngine downgraded shares of Central Pacific Financial from a “hold” rating to a “sell” rating in a report on Thursday, April 2nd. TheStreet downgraded shares of Central Pacific Financial from a “b-” rating to a “c+” rating in a report on Tuesday, March 10th. Zacks Investment Research raised shares of Central Pacific Financial from a “hold” rating to a “buy” rating and set a $18.00 price target for the company in a report on Tuesday, June 23rd. Finally, Compass Point raised shares of Central Pacific Financial from a “neutral” rating to a “buy” rating in a report on Thursday, April 23rd.
NYSE CPF traded up $0.34 during trading on Thursday, reaching $16.03. The company’s stock had a trading volume of 8,404 shares, compared to its average volume of 245,867. 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 firm has a market capitalization of $419.76 million, a price-to-earnings ratio of 8.86 and a beta of 1.25. Central Pacific Financial has a 12 month low of $12.40 and a 12 month high of $30.56. The firm has a 50 day moving average price of $16.16 and a 200 day moving average price of $21.49.
The business also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Friday, May 29th were paid a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 5.74%. The ex-dividend date was Thursday, May 28th. Central Pacific Financial’s payout ratio is 45.32%.
In other Central Pacific Financial news, Director Crystal Rose purchased 1,900 shares of the firm’s stock in a transaction on Thursday, June 11th. The stock was purchased at an average cost of $17.44 per share, for a total transaction of $33,136.00. Following the transaction, the director now owns 27,175 shares in the company, valued at approximately $473,932. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 3.70% of the company’s stock.
Several institutional investors and hedge funds have recently bought and sold shares of the company. State Street Corp increased its position in shares of Central Pacific Financial by 6.9% during the first quarter. State Street Corp now owns 1,068,041 shares of the financial services provider’s stock worth $16,982,000 after buying an additional 68,624 shares during the period. Bank of New York Mellon Corp increased its position in shares of Central Pacific Financial by 1.1% during the fourth quarter. Bank of New York Mellon Corp now owns 973,586 shares of the financial services provider’s stock worth $28,798,000 after buying an additional 10,737 shares during the period. Renaissance Technologies LLC increased its position in shares of Central Pacific Financial by 17.6% during the fourth quarter. Renaissance Technologies LLC now owns 964,500 shares of the financial services provider’s stock worth $28,530,000 after buying an additional 144,500 shares during the period. JPMorgan Chase & Co. increased its position in shares of Central Pacific Financial by 1.1% during the first quarter. JPMorgan Chase & Co. now owns 901,651 shares of the financial services provider’s stock worth $14,336,000 after buying an additional 10,008 shares during the period. Finally, Invesco Ltd. grew its holdings in Central Pacific Financial by 4.5% in the first quarter. Invesco Ltd. now owns 873,358 shares of the financial services provider’s stock worth $13,886,000 after purchasing an additional 37,340 shares during the period. Institutional investors own 90.90% of the company’s stock.
Central Pacific Financial Company Profile
Central Pacific Financial Corp. operates as the holding company for Central Pacific Bank that provides commercial banking products and services to businesses, professionals, and individuals in Hawaii. The company operates in three segments: Banking Operations, Treasury, and All Others. It offers various deposit products and services, including personal and business checking and savings accounts, money market accounts, and time certificates of deposit.
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