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

Central Pacific Financial (NYSE:CPF) is scheduled to be releasing its earnings data before the market opens on Wednesday, January 24th. Analysts expect Central Pacific Financial to post earnings of $0.41 per share for the quarter.

Central Pacific Financial (NYSE:CPF) last posted its earnings results on Wednesday, October 25th. The financial services provider reported $0.39 EPS for the quarter, missing the Zacks’ consensus estimate of $0.41 by ($0.02). The firm had revenue of $51.69 million for the quarter, compared to analysts’ expectations of $52.43 million. Central Pacific Financial had a return on equity of 9.64% and a net margin of 22.45%. The firm’s revenue for the quarter was up 3.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.37 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 (NYSE CPF) traded up $0.57 on Wednesday, reaching $31.28. The company’s stock 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 one year low of $27.34 and a one year 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 of Directors has initiated a stock buyback plan on Wednesday, November 15th that authorizes the company to repurchase $50.00 million in outstanding shares. This repurchase authorization authorizes the financial services provider to repurchase shares of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its shares are undervalued.

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

Separately, Zacks Investment Research downgraded Central Pacific Financial from a “hold” rating to a “sell” rating in a research report on Monday, December 18th.

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About Central Pacific Financial

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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