Equities research analysts expect Central Pacific Financial Co. (NYSE:CPF) to post earnings per share of $0.47 for the current quarter, Zacks reports. Two analysts have made estimates for Central Pacific Financial’s earnings. The lowest EPS estimate is $0.46 and the highest is $0.48. Central Pacific Financial reported earnings per share of $0.39 in the same quarter last year, which suggests a positive year-over-year growth rate of 20.5%. The company is expected to announce its next quarterly earnings report on Wednesday, July 25th.
According to Zacks, 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 $1.90 to $1.97. For the next year, analysts forecast that the business will report earnings of $2.14 per share, with EPS estimates ranging from $2.10 to $2.17. Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side research analysts that follow Central Pacific Financial.
Central Pacific Financial (NYSE:CPF) last issued its quarterly earnings data on Wednesday, April 25th. The financial services provider reported $0.48 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.49 by ($0.01). Central Pacific Financial had a return on equity of 9.93% and a net margin of 19.18%. The company had revenue of $51.28 million for the quarter, compared to the consensus estimate of $53.00 million.
Separately, Zacks Investment Research raised shares of Central Pacific Financial from a “sell” rating to a “hold” rating in a research report on Monday, April 2nd.
Several hedge funds have recently modified their holdings of the company. Xact Kapitalforvaltning AB increased its position in shares of Central Pacific Financial by 61.7% during the first 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 in the last quarter. Millennium Management LLC increased its position in shares of Central Pacific Financial by 8.8% during the first quarter. Millennium Management LLC now owns 726,216 shares of the financial services provider’s stock worth $20,668,000 after acquiring an additional 58,962 shares in the last quarter. UBS Group AG increased its position in shares of Central Pacific Financial by 36.4% during the first quarter. UBS Group AG now owns 93,403 shares of the financial services provider’s stock worth $2,658,000 after acquiring an additional 24,923 shares in the last quarter. Citadel Advisors LLC increased its position in shares of Central Pacific Financial by 69.8% during the first quarter. Citadel Advisors LLC now owns 109,089 shares of the financial services provider’s stock worth $3,104,000 after acquiring an additional 44,827 shares in the last quarter. Finally, Russell Investments Group Ltd. increased its position in shares of Central Pacific Financial by 63.4% during the first quarter. Russell Investments Group Ltd. now owns 777,174 shares of the financial services provider’s stock worth $22,119,000 after acquiring an additional 301,570 shares in the last quarter. 92.54% of the stock is owned by institutional investors.
Shares of CPF stock traded down $0.04 during trading hours on Friday, hitting $29.82. 537,367 shares of the company were exchanged, compared to its average volume of 174,096. The company has a quick ratio of 0.76, a current ratio of 0.77 and a debt-to-equity ratio of 0.19. Central Pacific Financial has a 52 week low of $27.34 and a 52 week high of $33.15. The company has a market capitalization of $883.86 million, a price-to-earnings ratio of 18.10 and a beta of 1.12.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 15th. Stockholders of record on Thursday, May 31st will be given a dividend of $0.21 per share. This is an increase from Central Pacific Financial’s previous quarterly dividend of $0.19. The ex-dividend date is Wednesday, May 30th. This represents a $0.84 annualized dividend and a dividend yield of 2.82%. Central Pacific Financial’s dividend payout ratio is currently 47.80%.
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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