Central Pacific Financial (NYSE:CPF) Posts Quarterly Earnings Results, Beats Estimates By $0.13 EPS

Central Pacific Financial (NYSE:CPF) released its earnings results on Wednesday. The financial services provider reported $0.35 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.22 by $0.13, MarketWatch Earnings reports. Central Pacific Financial had a return on equity of 8.82% and a net margin of 18.39%. The firm had revenue of $59.95 million during the quarter, compared to analysts’ expectations of $58.16 million.

Shares of CPF traded down $0.02 on Friday, reaching $15.56. The stock had a trading volume of 209,874 shares, compared to its average volume of 188,118. Central Pacific Financial has a twelve month low of $12.40 and a twelve month high of $30.56. The firm has a market capitalization of $438.01 million, a PE ratio of 9.43 and a beta of 1.26. The firm has a 50-day moving average of $15.37 and a 200 day moving average of $19.14. The company has a quick ratio of 0.85, a current ratio of 0.88 and a debt-to-equity ratio of 0.31.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Monday, August 31st will be given a dividend of $0.23 per share. The ex-dividend date is Friday, August 28th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 5.91%. Central Pacific Financial’s payout ratio is 45.32%.

In other news, Director Crystal Rose acquired 1,900 shares of Central Pacific Financial stock in a transaction that occurred on Thursday, June 11th. The stock was purchased at an average cost of $17.44 per share, with a total value of $33,136.00. Following the completion of the acquisition, 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 Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 3.70% of the company’s stock.

Several equities analysts have issued reports on CPF shares. ValuEngine upgraded shares of Central Pacific Financial from a “sell” rating to a “hold” rating in a research note on Thursday, July 2nd. Zacks Investment Research upgraded shares of Central Pacific Financial from a “hold” rating to a “buy” rating and set a $18.00 target price for the company in a research note on Tuesday, June 23rd. Finally, Compass Point upgraded Central Pacific Financial from a “neutral” rating to a “buy” rating in a research report on Thursday, April 23rd.

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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Earnings History for Central Pacific Financial (NYSE:CPF)

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