Central Pacific Financial (CPF) to Release Earnings on Wednesday

Central Pacific Financial (NYSE:CPF) is set to announce its earnings results before the market opens on Wednesday, January 24th. Analysts expect the company to announce earnings of $0.41 per share for the quarter.

Central Pacific Financial (NYSE:CPF) last posted its quarterly earnings results on Wednesday, October 25th. The financial services provider reported $0.39 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.41 by ($0.02). Central Pacific Financial had a net margin of 22.45% and a return on equity of 9.64%. The business had revenue of $51.69 million during the quarter, compared to analysts’ expectations of $52.43 million. During the same quarter last year, the firm earned $0.37 earnings per share. The firm’s quarterly revenue was up 3.1% compared to the same quarter last year. 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 (NYSE CPF) traded up $0.57 during trading on Wednesday, hitting $31.28. The company had a trading volume of 214,920 shares, compared to its average volume of 153,391. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.75 and a current ratio of 0.75. Central Pacific Financial has a 12-month low of $27.34 and a 12-month high of $33.55. The stock has a market capitalization of $944.30, a P/E ratio of 19.67 and a beta of 1.19.

Central Pacific Financial announced that its board has authorized a share buyback plan on Wednesday, November 15th that allows the company to repurchase $50.00 million in outstanding shares. This repurchase authorization allows the financial services provider to repurchase shares of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board of directors believes its shares are undervalued.

Separately, Zacks Investment Research upgraded Central Pacific Financial from a “sell” rating to a “hold” rating in a research note on Tuesday, October 3rd.

In other Central Pacific Financial news, insider Blenn Fujimoto sold 3,350 shares of the business’s stock in a transaction on Tuesday, November 7th. The stock was sold at an average price of $30.19, for a total transaction of $101,136.50. Following the sale, the insider now directly owns 16,686 shares in the company, valued at $503,750.34. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 4.10% of the stock is currently owned by insiders.

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Central Pacific Financial Company Profile

Central Pacific Financial Corp. is the bank holding company of Central Pacific Bank (the Bank). The Company’s segments include Banking Operations, Treasury and All Others. The Banking Operations segment includes construction and real estate development lending, commercial lending, residential mortgage lending, consumer lending, trust services, retail brokerage services and its retail branch offices, which provide a range of deposit and loan products, as well as various other banking services.

Earnings History for Central Pacific Financial (NYSE:CPF)

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