According to Zacks, “Central Pacific Financial Corp. is a Hawaii-based bank holding company. Central Pacific Bank, its subsidiary, is Hawaii’s third largest commercial bank. “
CPF has been the subject of a number of other research reports. Compass Point initiated coverage on Central Pacific Financial in a report on Thursday, August 11th. They issued a neutral rating and a $26.00 target price for the company. Piper Jaffray Cos. initiated coverage on Central Pacific Financial in a report on Friday, July 8th. They issued a neutral rating and a $25.00 target price for the company. Finally, Raymond James Financial Inc. upped their target price on Central Pacific Financial from $25.00 to $26.00 and gave the stock an outperform rating in a report on Tuesday, August 2nd. Four analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. The stock presently has an average rating of Hold and a consensus target price of $25.40.
Shares of Central Pacific Financial (NYSE:CPF) opened at 24.91 on Monday. The firm has a 50-day moving average price of $25.17 and a 200 day moving average price of $23.65. Central Pacific Financial has a 1-year low of $18.47 and a 1-year high of $25.99. The company has a market cap of $771.91 million, a PE ratio of 17.05 and a beta of 1.18.
Central Pacific Financial (NYSE:CPF) last issued its earnings results on Thursday, July 28th. The financial services provider reported $0.39 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.35 by $0.04. Central Pacific Financial had a return on equity of 9.18% and a net margin of 22.77%. During the same period in the previous year, the firm posted $0.39 earnings per share. On average, equities analysts anticipate that Central Pacific Financial will post $1.48 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Thursday, September 15th. Stockholders of record on Wednesday, August 31st were paid a $0.16 dividend. This is a boost from Central Pacific Financial’s previous quarterly dividend of $0.14. The ex-dividend date was Monday, August 29th. This represents a $0.64 annualized dividend and a dividend yield of 2.57%. Central Pacific Financial’s dividend payout ratio is presently 43.84%.
In related news, insider Lance A. Mizumoto sold 19,950 shares of the firm’s stock in a transaction that occurred on Friday, August 26th. The stock was sold at an average price of $25.25, for a total transaction of $503,737.50. Following the completion of the sale, the insider now owns 69,427 shares of the company’s stock, valued at $1,753,031.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Wayne K. Kamitaki bought 3,500 shares of the firm’s stock in a transaction that occurred on Wednesday, August 3rd. The shares were acquired at an average cost of $24.54 per share, with a total value of $85,890.00. Following the purchase, the director now directly owns 289 shares of the company’s stock, valued at $7,092.06. The disclosure for this purchase can be found here. 4.20% of the stock is owned by insiders.
Large investors have recently added to or reduced their stakes in the company. Teacher Retirement System of Texas boosted its stake in Central Pacific Financial by 14.0% in the second quarter. Teacher Retirement System of Texas now owns 4,388 shares of the financial services provider’s stock valued at $104,000 after buying an additional 540 shares in the last quarter. Mason Street Advisors LLC acquired a new stake in Central Pacific Financial during the second quarter valued at approximately $143,000. Sei Investments Co. boosted its stake in Central Pacific Financial by 173.6% in the second quarter. Sei Investments Co. now owns 7,121 shares of the financial services provider’s stock valued at $168,000 after buying an additional 4,518 shares in the last quarter. Capstone Asset Management Co. acquired a new stake in Central Pacific Financial during the second quarter valued at approximately $212,000. Finally, BNP Paribas Arbitrage SA boosted its stake in Central Pacific Financial by 103.1% in the second quarter. BNP Paribas Arbitrage SA now owns 9,667 shares of the financial services provider’s stock valued at $228,000 after buying an additional 4,907 shares in the last quarter. 93.49% of the stock is owned by institutional investors and hedge funds.
About Central Pacific Financial
Central Pacific Financial Corp. serves as the bank holding company for its bank subsidiary, Central Pacific Bank (the bank). The Company’s segments include Banking Operations, Treasury and All Others. The Banking Operations segment includes construction and commercial real estate lending, commercial lending, residential mortgage lending, consumer lending, trust services, retail brokerage services, and the Company’s retail branch offices, which provide a range of deposit and loan products, as well as various other banking services.
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