Zacks: Analysts Expect Central Pacific Financial Corp. (CPF) Will Post Earnings of $0.49 Per Share
Equities analysts expect Central Pacific Financial Corp. (NYSE:CPF) to report earnings of $0.49 per share for the current quarter, according to Zacks. Two analysts have made estimates for Central Pacific Financial’s earnings. The lowest EPS estimate is $0.48 and the highest is $0.49. Central Pacific Financial reported earnings of $0.39 per share in the same quarter last year, which indicates a positive year-over-year growth rate of 25.6%. The firm is scheduled to announce its next quarterly earnings results on Wednesday, October 24th.
On average, 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 $1.92 to $1.96. For the next year, analysts expect that the business will post earnings of $2.11 per share, with EPS estimates ranging from $2.10 to $2.12. Zacks’ EPS averages are an average based on a survey of sell-side analysts that that provide coverage for Central Pacific Financial.
Central Pacific Financial (NYSE:CPF) last announced its quarterly earnings data on Wednesday, July 25th. The financial services provider reported $0.48 earnings per share for the quarter, beating analysts’ consensus estimates of $0.47 by $0.01. Central Pacific Financial had a net margin of 19.71% and a return on equity of 10.54%. The business had revenue of $52.30 million during the quarter, compared to the consensus estimate of $52.45 million.
Central Pacific Financial stock opened at $27.86 on Monday. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.19. The stock has a market cap of $825.03 million, a price-to-earnings ratio of 17.52 and a beta of 1.03. Central Pacific Financial has a 52-week low of $27.19 and a 52-week high of $33.15.
The company also recently announced a quarterly dividend, which will be paid on Monday, September 17th. Shareholders of record on Friday, August 31st will be paid a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 3.02%. The ex-dividend date is Thursday, August 30th. Central Pacific Financial’s payout ratio is 52.83%.
In other news, Director Christine H. H. Camp bought 1,800 shares of Central Pacific Financial stock in a transaction on 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 purchase, the director now directly owns 6,112 shares of the company’s stock, valued at approximately $182,137.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Arnold D. Martines sold 1,080 shares of the business’s stock in a transaction dated Friday, August 3rd. The shares were sold at an average price of $27.99, for a total transaction of $30,229.20. Following the transaction, the executive vice president now directly owns 24 shares of the company’s stock, valued at $671.76. The disclosure for this sale can be found here. Insiders own 4.30% of the company’s stock.
Large investors have recently modified their holdings of the company. Itau Unibanco Holding S.A. acquired a new stake in shares of Central Pacific Financial in the 2nd quarter worth approximately $102,000. SG Americas Securities LLC acquired a new stake in shares of Central Pacific Financial in the 2nd quarter worth approximately $166,000. Piedmont Investment Advisors LLC acquired a new stake in shares of Central Pacific Financial in the 2nd quarter worth approximately $197,000. Stevens Capital Management LP acquired a new stake in shares of Central Pacific Financial in the 2nd quarter worth approximately $201,000. Finally, Xact Kapitalforvaltning AB lifted its stake in shares of 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 acquiring an additional 4,500 shares during the period. 92.21% of the stock is owned by institutional investors.
About Central Pacific Financial
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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