Central Pacific Financial (CPF) Scheduled to Post Earnings on Wednesday

Central Pacific Financial (NYSE:CPF) will issue its quarterly earnings data before the market opens on Wednesday, April 24th. Analysts expect the company to announce earnings of $0.45 per share for the quarter. Parties that are interested in registering for the company’s conference call can do so using this link.

Central Pacific Financial (NYSE:CPF) last posted its quarterly earnings results on Wednesday, January 31st. The financial services provider reported $0.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.48 by $0.07. The business had revenue of $89.29 million for the quarter, compared to analyst estimates of $61.18 million. Central Pacific Financial had a net margin of 17.82% and a return on equity of 12.23%. During the same quarter last year, the business posted $0.74 EPS. On average, analysts expect Central Pacific Financial to post $2 EPS for the current fiscal year and $2 EPS for the next fiscal year.

Central Pacific Financial Stock Performance

NYSE CPF opened at $18.72 on Wednesday. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.31. The firm has a market capitalization of $506.38 million, a price-to-earnings ratio of 8.63 and a beta of 1.15. The firm’s 50 day simple moving average is $19.06 and its 200 day simple moving average is $18.41. Central Pacific Financial has a 1 year low of $13.22 and a 1 year high of $22.00.

Central Pacific Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Thursday, February 29th were paid a $0.26 dividend. This represents a $1.04 annualized dividend and a yield of 5.56%. The ex-dividend date was Wednesday, February 28th. Central Pacific Financial’s payout ratio is 47.93%.

Analyst Ratings Changes

Separately, Piper Sandler increased their price objective on shares of Central Pacific Financial from $22.00 to $24.00 and gave the company an “overweight” rating in a research note on Thursday, February 1st.

Insider Activity at Central Pacific Financial

In related news, Director Agnes Catherine Ngo sold 3,333 shares of Central Pacific Financial stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $19.32, for a total transaction of $64,393.56. Following the completion of the transaction, the director now owns 88,689 shares of the company’s stock, valued at $1,713,471.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders sold a total of 9,999 shares of company stock valued at $192,547 in the last quarter. Insiders own 2.30% of the company’s stock.

Hedge Funds Weigh In On Central Pacific Financial

A number of hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. raised its stake in Central Pacific Financial by 1.3% during the fourth quarter. Vanguard Group Inc. now owns 2,072,389 shares of the financial services provider’s stock worth $40,785,000 after buying an additional 25,956 shares during the last quarter. Goldman Sachs Group Inc. grew its holdings in Central Pacific Financial by 0.6% in the fourth quarter. Goldman Sachs Group Inc. now owns 565,440 shares of the financial services provider’s stock worth $11,128,000 after purchasing an additional 3,200 shares during the period. Barclays PLC grew its holdings in Central Pacific Financial by 33.2% in the fourth quarter. Barclays PLC now owns 68,095 shares of the financial services provider’s stock worth $1,341,000 after purchasing an additional 16,973 shares during the period. North Reef Capital Management LP grew its holdings in Central Pacific Financial by 79.6% in the fourth quarter. North Reef Capital Management LP now owns 50,077 shares of the financial services provider’s stock worth $986,000 after purchasing an additional 22,193 shares during the period. Finally, Public Sector Pension Investment Board grew its holdings in Central Pacific Financial by 67.9% in the fourth quarter. Public Sector Pension Investment Board now owns 56,125 shares of the financial services provider’s stock worth $1,105,000 after purchasing an additional 22,703 shares during the period. Institutional investors own 88.42% of the company’s stock.

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.