Brokerages Expect Central Pacific Financial Co. (CPF) to Announce $0.47 EPS

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Wall Street analysts forecast that Central Pacific Financial Co. (NYSE:CPF) will report earnings per share of $0.47 for the current quarter, according to Zacks. Two analysts have made estimates for Central Pacific Financial’s earnings. The highest EPS estimate is $0.48 and the lowest is $0.46. Central Pacific Financial reported earnings per share of $0.39 in the same quarter last year, which suggests a positive year over year growth rate of 20.5%. The company is expected to announce its next earnings report on Wednesday, July 25th.

According to Zacks, analysts expect that Central Pacific Financial will report full-year earnings of $1.94 per share for the current year, with EPS estimates ranging from $1.90 to $1.97. For the next fiscal year, analysts expect that the firm will post earnings of $2.14 per share, with EPS estimates ranging from $2.10 to $2.17. Zacks’ EPS averages are an average based on a survey of analysts that cover Central Pacific Financial.

Central Pacific Financial (NYSE:CPF) last posted its quarterly earnings data on Wednesday, April 25th. The financial services provider reported $0.48 EPS for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.01). Central Pacific Financial had a net margin of 19.18% and a return on equity of 9.93%. The company had revenue of $51.28 million for the quarter, compared to analyst estimates of $53.00 million.

CPF has been the subject of a number of research reports. Zacks Investment Research raised shares of Central Pacific Financial from a “sell” rating to a “hold” rating in a research report on Monday, April 2nd. ValuEngine downgraded shares of Central Pacific Financial from a “hold” rating to a “sell” rating in a research report on Monday, June 11th.

Shares of NYSE:CPF opened at $29.27 on Tuesday. Central Pacific Financial has a 12-month low of $27.34 and a 12-month high of $33.15. The company has a current ratio of 0.77, a quick ratio of 0.76 and a debt-to-equity ratio of 0.19. The stock has a market capitalization of $861.37 million, a price-to-earnings ratio of 18.41 and a beta of 1.10.

The business also recently announced a quarterly dividend, which was paid on Friday, June 15th. Stockholders of record on Thursday, May 31st were given a dividend of $0.21 per share. This is an increase from Central Pacific Financial’s previous quarterly dividend of $0.19. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.87%. The ex-dividend date was Wednesday, May 30th. Central Pacific Financial’s dividend payout ratio is currently 52.83%.

In related news, Director Christine H. H. Camp bought 1,800 shares of Central Pacific Financial stock in a transaction dated Tuesday, June 19th. The stock was purchased at an average cost of $29.80 per share, with a total value of $53,640.00. Following the transaction, the director now directly owns 6,112 shares of the company’s stock, valued at $182,137.60. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Arnold D. Martines sold 1,038 shares of the stock in a transaction that occurred on Wednesday, June 13th. The shares were sold at an average price of $29.44, for a total transaction of $30,558.72. Following the transaction, the insider now directly owns 1,104 shares of the company’s stock, valued at $32,501.76. The disclosure for this sale can be found here. 4.30% of the stock is owned by corporate insiders.

Institutional investors have recently added to or reduced their stakes in the company. Northern Trust Corp boosted its holdings in Central Pacific Financial by 0.7% in the 1st quarter. Northern Trust Corp now owns 465,355 shares of the financial services provider’s stock worth $13,244,000 after buying an additional 3,160 shares during the period. Wells Fargo & Company MN boosted its holdings in Central Pacific Financial by 1.8% in the 4th quarter. Wells Fargo & Company MN now owns 191,276 shares of the financial services provider’s stock worth $5,705,000 after buying an additional 3,454 shares during the period. HBK Investments L P boosted its holdings in Central Pacific Financial by 47.7% in the 4th quarter. HBK Investments L P now owns 12,700 shares of the financial services provider’s stock worth $379,000 after buying an additional 4,100 shares during the period. Xact Kapitalforvaltning AB boosted its holdings in Central Pacific Financial by 61.7% in the 1st quarter. Xact Kapitalforvaltning AB now owns 11,795 shares of the financial services provider’s stock worth $336,000 after buying an additional 4,500 shares during the period. Finally, California Public Employees Retirement System boosted its holdings in Central Pacific Financial by 3.2% in the 4th quarter. California Public Employees Retirement System now owns 155,603 shares of the financial services provider’s stock worth $4,642,000 after buying an additional 4,802 shares during the period. 92.39% of the stock is owned by hedge funds and other institutional investors.

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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