Central Pacific Financial (NYSE:CPF) Posts Quarterly Earnings Results, Beats Estimates By $0.14 EPS

Central Pacific Financial (NYSE:CPFGet Rating) announced its quarterly earnings data on Wednesday. The financial services provider reported $0.70 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.56 by $0.14, MarketWatch Earnings reports. Central Pacific Financial had a return on equity of 14.46% and a net margin of 30.51%. During the same quarter in the previous year, the firm earned $0.64 EPS.

NYSE CPF traded down $0.45 on Thursday, hitting $26.90. 108 shares of the stock traded hands, compared to its average volume of 176,170. The firm has a market capitalization of $743.41 million, a price-to-earnings ratio of 9.57 and a beta of 1.18. The business’s fifty day moving average is $28.10 and its two-hundred day moving average is $28.07. Central Pacific Financial has a 12 month low of $23.12 and a 12 month high of $30.97. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.81 and a current ratio of 0.81.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 15th. Stockholders of record on Tuesday, May 31st will be issued a $0.26 dividend. This represents a $1.04 annualized dividend and a dividend yield of 3.87%. The ex-dividend date is Friday, May 27th. Central Pacific Financial’s dividend payout ratio is presently 36.62%.

In other Central Pacific Financial news, President Agnes Catherine Ngo sold 6,135 shares of the firm’s stock in a transaction dated Monday, February 28th. The stock was sold at an average price of $29.20, for a total transaction of $179,142.00. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 2.80% of the company’s stock.

A number of institutional investors and hedge funds have recently modified their holdings of the business. Royal Bank of Canada raised its holdings in Central Pacific Financial by 51.6% in the 2nd quarter. Royal Bank of Canada now owns 1,892 shares of the financial services provider’s stock worth $49,000 after acquiring an additional 644 shares during the last quarter. Deutsche Bank AG increased its stake in Central Pacific Financial by 3.2% in the 4th quarter. Deutsche Bank AG now owns 22,399 shares of the financial services provider’s stock worth $631,000 after buying an additional 694 shares in the last quarter. California State Teachers Retirement System boosted its holdings in shares of Central Pacific Financial by 2.4% during the 4th quarter. California State Teachers Retirement System now owns 38,786 shares of the financial services provider’s stock valued at $1,093,000 after purchasing an additional 896 shares during the last quarter. Credit Suisse AG boosted its holdings in shares of Central Pacific Financial by 7.4% during the 4th quarter. Credit Suisse AG now owns 19,979 shares of the financial services provider’s stock valued at $563,000 after purchasing an additional 1,384 shares during the last quarter. Finally, Legal & General Group Plc lifted its holdings in shares of Central Pacific Financial by 2.6% in the 4th quarter. Legal & General Group Plc now owns 66,892 shares of the financial services provider’s stock valued at $1,884,000 after acquiring an additional 1,665 shares during the last quarter. Institutional investors and hedge funds own 89.31% of the company’s stock.

A number of brokerages recently weighed in on CPF. StockNews.com assumed coverage on Central Pacific Financial in a research note on Thursday, March 31st. They issued a “hold” rating on the stock. Raymond James lifted their price objective on Central Pacific Financial from $29.00 to $33.00 and gave the stock an “outperform” rating in a report on Thursday, January 27th. Zacks Investment Research raised Central Pacific Financial from a “hold” rating to a “strong-buy” rating and set a $33.00 price objective on the stock in a research note on Friday, January 28th. Finally, Compass Point dropped their target price on Central Pacific Financial from $30.00 to $29.00 in a research report on Thursday.

Central Pacific Financial Company Profile (Get Rating)

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 the United States. 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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