Central Pacific Financial (CPF) Set to Announce Earnings on Wednesday

Central Pacific Financial (NYSE:CPF – Get Rating) is scheduled to be posting its quarterly earnings results before the market opens on Wednesday, January 25th. Analysts expect Central Pacific Financial to post earnings of $0.61 per share for the quarter. Individual that are interested in registering for the company’s earnings conference call can do so using this link.

Central Pacific Financial (NYSE:CPF – Get Rating) last released its quarterly earnings results on Friday, October 21st. The financial services provider reported $0.61 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.61. Central Pacific Financial had a return on equity of 15.70% and a net margin of 28.12%. The company had revenue of $64.99 million during the quarter, compared to analysts’ expectations of $65.78 million. On average, analysts expect Central Pacific Financial to post $3 EPS for the current fiscal year and $2 EPS for the next fiscal year.

Central Pacific Financial Stock Performance

Shares of NYSE:CPF traded down $0.17 on Tuesday, hitting $20.90. The company’s stock had a trading volume of 66,071 shares, compared to its average volume of 111,618. Central Pacific Financial has a 12 month low of $18.59 and a 12 month high of $30.85. The company has a market capitalization of $569.07 million, a price-to-earnings ratio of 7.60 and a beta of 1.10. The stock’s 50-day moving average is $20.45 and its two-hundred day moving average is $21.43. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.83 and a current ratio of 0.83.

Analyst Upgrades and Downgrades

CPF has been the subject of several research reports. Compass Point decreased their target price on Central Pacific Financial to $22.00 in a research note on Thursday, October 27th. Raymond James cut Central Pacific Financial from an “outperform” rating to a “market perform” rating in a research note on Thursday, October 6th. StockNews.com initiated coverage on Central Pacific Financial in a research note on Wednesday, October 12th. They set a “hold” rating for the company. Finally, Piper Sandler decreased their target price on Central Pacific Financial to $24.00 in a research note on Friday, September 30th.

Insider Activity

In other Central Pacific Financial news, COO Arnold D. Martines bought 5,000 shares of the stock in a transaction on Thursday, October 27th. The shares were purchased at an average price of $19.44 per share, with a total value of $97,200.00. Following the acquisition, the chief operating officer now directly owns 5,274 shares of the company’s stock, valued at approximately $102,526.56. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 2.80% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Central Pacific Financial

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Teachers Retirement System of The State of Kentucky acquired a new stake in shares of Central Pacific Financial in the 3rd quarter valued at $212,000. Jane Street Group LLC bought a new stake in shares of Central Pacific Financial in the third quarter valued at about $360,000. BNP Paribas Arbitrage SNC raised its holdings in Central Pacific Financial by 13.7% during the third quarter. BNP Paribas Arbitrage SNC now owns 26,167 shares of the financial services provider’s stock worth $541,000 after acquiring an additional 3,162 shares in the last quarter. Algert Global LLC raised its holdings in Central Pacific Financial by 12.1% during the third quarter. Algert Global LLC now owns 21,598 shares of the financial services provider’s stock worth $447,000 after acquiring an additional 2,339 shares in the last quarter. Finally, UBS Asset Management Americas Inc. increased its position in Central Pacific Financial by 23.0% during the third quarter. UBS Asset Management Americas Inc. now owns 41,026 shares of the financial services provider’s stock worth $849,000 after buying an additional 7,669 shares during the last quarter. Institutional investors own 89.76% of the company’s stock.

About Central Pacific Financial

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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.