Equities analysts expect that Central Pacific Financial Corp. (NYSE:CPF – Get Rating) will post $62.15 million in sales for the current quarter, Zacks reports. Two analysts have made estimates for Central Pacific Financial’s earnings. The highest sales estimate is $62.90 million and the lowest is $61.39 million. Central Pacific Financial reported sales of $62.59 million during the same quarter last year, which indicates a negative year-over-year growth rate of 0.7%. The firm is expected to issue its next earnings report on Monday, January 1st.
According to Zacks, analysts expect that Central Pacific Financial will report full year sales of $252.08 million for the current year, with estimates ranging from $251.36 million to $252.80 million. For the next fiscal year, analysts expect that the company will post sales of $278.37 million, with estimates ranging from $276.90 million to $279.83 million. Zacks’ sales calculations are a mean average based on a survey of sell-side research firms that that provide coverage for Central Pacific Financial.
Central Pacific Financial (NYSE:CPF – Get Rating) last released its earnings results on Wednesday, April 20th. The financial services provider reported $0.70 earnings per share for the quarter, beating the consensus estimate of $0.55 by $0.15. Central Pacific Financial had a net margin of 31.06% and a return on equity of 15.10%. The business had revenue of $60.49 million during the quarter, compared to analysts’ expectations of $62.89 million. During the same quarter last year, the company earned $0.64 earnings per share.
Shares of NYSE CPF traded up $0.30 during mid-day trading on Monday, hitting $23.99. The company had a trading volume of 106,511 shares, compared to its average volume of 184,183. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.81 and a quick ratio of 0.81. The business’s 50-day simple moving average is $25.95 and its 200-day simple moving average is $27.65. Central Pacific Financial has a 12 month low of $22.63 and a 12 month high of $30.97. The firm has a market cap of $660.97 million, a P/E ratio of 8.17 and a beta of 1.20.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 15th. Stockholders of record on Tuesday, May 31st will be issued a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a dividend yield of 4.34%. The ex-dividend date is Friday, May 27th. Central Pacific Financial’s payout ratio is 35.86%.
In other news, President Agnes Catherine Ngo sold 6,135 shares of the firm’s stock in a transaction that occurred on Monday, February 28th. The shares were sold at an average price of $29.20, for a total transaction of $179,142.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 2.80% of the company’s stock.
Several institutional investors have recently modified their holdings of CPF. Royal Bank of Canada increased its holdings in shares of Central Pacific Financial by 51.6% in the second quarter. Royal Bank of Canada now owns 1,892 shares of the financial services provider’s stock valued at $49,000 after purchasing an additional 644 shares in the last quarter. Morgan Stanley increased its holdings in shares of Central Pacific Financial by 112.1% in the second quarter. Morgan Stanley now owns 235,900 shares of the financial services provider’s stock valued at $6,148,000 after purchasing an additional 124,659 shares in the last quarter. SG Americas Securities LLC acquired a new stake in shares of Central Pacific Financial in the third quarter valued at approximately $192,000. Allianz Asset Management GmbH increased its holdings in shares of Central Pacific Financial by 4.3% in the third quarter. Allianz Asset Management GmbH now owns 24,093 shares of the financial services provider’s stock valued at $619,000 after purchasing an additional 996 shares in the last quarter. Finally, Panagora Asset Management Inc. increased its holdings in shares of Central Pacific Financial by 48.8% in the third quarter. Panagora Asset Management Inc. now owns 55,232 shares of the financial services provider’s stock valued at $1,418,000 after purchasing an additional 18,105 shares in the last quarter. 89.53% of the stock is owned by institutional investors and hedge funds.
About Central Pacific Financial (Get Rating)
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 the United States. 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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