Central Pacific Financial (NYSE:CPF) Announces Earnings Results, Beats Estimates By $0.09 EPS

Central Pacific Financial (NYSE:CPF) posted its earnings results on Wednesday. The financial services provider reported $0.70 earnings per share for the quarter, topping analysts’ consensus estimates of $0.61 by $0.09, Zacks reports. Central Pacific Financial had a return on equity of 12.12% and a net margin of 15.49%.

Central Pacific Financial Stock Up 0.9 %

NYSE:CPF traded up $0.26 during midday trading on Friday, reaching $29.70. 12,985 shares of the stock traded hands, compared to its average volume of 223,218. The stock has a market capitalization of $804.03 million, a PE ratio of 15.08 and a beta of 1.19. Central Pacific Financial has a 12-month low of $18.00 and a 12-month high of $33.25. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.85 and a current ratio of 0.85. The business has a 50-day moving average of $29.43 and a two-hundred day moving average of $28.20.

Central Pacific Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Friday, February 28th will be paid a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a dividend yield of 3.64%. The ex-dividend date of this dividend is Friday, February 28th. This is a positive change from Central Pacific Financial’s previous quarterly dividend of $0.26. Central Pacific Financial’s payout ratio is 52.79%.

Wall Street Analysts Forecast Growth

Separately, StockNews.com cut Central Pacific Financial from a “hold” rating to a “sell” rating in a research note on Tuesday.

About Central Pacific Financial

Central Pacific Financial Corp. operates as the bank holding company for Central Pacific Bank that provides a range of commercial banking products and services to businesses, professionals, and individuals in the United States. It offers various deposit products and services, including checking, savings and time deposits, cash management and digital banking, trust, and retail brokerage services, as well as money market accounts and certificates of deposit.