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

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

Central Pacific Financial (NYSE:CPF) last released its earnings results on Wednesday, January 31st. The financial services provider reported $0.55 earnings per share for the quarter, topping analysts’ consensus estimates of $0.48 by $0.07. Central Pacific Financial had a return on equity of 12.23% and a net margin of 17.82%. The business had revenue of $89.29 million for the quarter, compared to the consensus estimate of $61.18 million. During the same period last year, the business earned $0.74 earnings per share. 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 Down 1.3 %

CPF stock opened at $18.72 on Wednesday. Central Pacific Financial has a twelve month low of $13.22 and a twelve month high of $22.00. The company has a market cap of $506.38 million, a PE ratio of 8.63 and a beta of 1.15. The business’s 50-day simple moving average is $19.06 and its 200 day simple moving average is $18.41. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.31.

Central Pacific Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Thursday, February 29th were given a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 5.56%. The ex-dividend date of this dividend was Wednesday, February 28th. Central Pacific Financial’s dividend payout ratio (DPR) is presently 47.93%.

Insider Buying and Selling at Central Pacific Financial

In other Central Pacific Financial news, Director Agnes Catherine Ngo sold 3,333 shares of Central Pacific Financial stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $19.32, for a total transaction of $64,393.56. Following the sale, the director now directly owns 88,689 shares of the company’s stock, valued at $1,713,471.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Over the last ninety days, insiders have sold 9,999 shares of company stock valued at $192,547. 2.30% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of CPF. Captrust Financial Advisors raised its stake in shares of Central Pacific Financial by 127.6% in the first quarter. Captrust Financial Advisors now owns 1,853 shares of the financial services provider’s stock valued at $52,000 after acquiring an additional 1,039 shares during the last quarter. Tower Research Capital LLC TRC raised its stake in shares of Central Pacific Financial by 101.9% in the third quarter. Tower Research Capital LLC TRC now owns 2,931 shares of the financial services provider’s stock valued at $61,000 after acquiring an additional 1,479 shares during the last quarter. Point72 Hong Kong Ltd bought a new position in shares of Central Pacific Financial in the second quarter valued at approximately $65,000. Quantbot Technologies LP bought a new position in shares of Central Pacific Financial in the second quarter valued at approximately $86,000. Finally, Trexquant Investment LP bought a new position in shares of Central Pacific Financial in the third quarter valued at approximately $171,000. Institutional investors own 88.42% of the company’s stock.

Analysts Set New Price Targets

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

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.