Central Pacific Financial (CPF) to Release Quarterly Earnings on Wednesday

Central Pacific Financial (NYSE:CPF - Get Free Report) will issue its quarterly earnings data before the market opens on Wednesday, April 24th. Analysts expect the company to announce earnings of $0.45 per share for the quarter. Parties that are interested in registering for the company's conference call can do so using this link.

Central Pacific Financial (NYSE:CPF - Get Free Report) last announced its earnings results on Wednesday, January 31st. The financial services provider reported $0.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.48 by $0.07. Central Pacific Financial had a return on equity of 12.23% and a net margin of 17.82%. The firm had revenue of $89.29 million during the quarter, compared to analyst estimates of $61.18 million. During the same period last year, the firm posted $0.74 EPS. 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 Price Performance

Shares of Central Pacific Financial stock remained flat at $18.72 during trading hours on Wednesday. The stock had a trading volume of 173,122 shares, compared to its average volume of 171,636. Central Pacific Financial has a 1 year low of $13.22 and a 1 year high of $22.00. The stock has a market capitalization of $506.19 million, a PE ratio of 8.63 and a beta of 1.15. The stock's 50-day moving average is $19.06 and its two-hundred day moving average is $18.41. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.86 and a quick ratio of 0.86.

Central Pacific Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Thursday, February 29th were given a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a dividend yield of 5.56%. The ex-dividend date was Wednesday, February 28th. Central Pacific Financial's dividend payout ratio is presently 47.93%.

Analyst Ratings Changes

Separately, Piper Sandler raised their target price on Central Pacific Financial from $22.00 to $24.00 and gave the company an "overweight" rating in a research report on Thursday, February 1st.

Insider Buying and Selling

In related news, Director Agnes Catherine Ngo sold 3,333 shares of Central Pacific Financial stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $19.32, for a total value of $64,393.56. Following the completion of the sale, the director now owns 88,689 shares of the company's stock, valued at approximately $1,713,471.48. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In the last 90 days, insiders sold 9,999 shares of company stock valued at $192,547. 2.30% of the stock is owned by insiders.

Institutional Investors Weigh In On Central Pacific Financial

Several large investors have recently added to or reduced their stakes in CPF. GSA Capital Partners LLP boosted its stake in Central Pacific Financial by 6.8% in the 3rd quarter. GSA Capital Partners LLP now owns 11,180 shares of the financial services provider's stock worth $186,000 after purchasing an additional 709 shares during the period. Sei Investments Co. boosted its stake in Central Pacific Financial by 3.6% in the 4th quarter. Sei Investments Co. now owns 21,495 shares of the financial services provider's stock worth $423,000 after purchasing an additional 746 shares during the period. Citigroup Inc. boosted its stake in Central Pacific Financial by 3.0% in the 1st quarter. Citigroup Inc. now owns 27,767 shares of the financial services provider's stock worth $775,000 after purchasing an additional 803 shares during the period. Tower Research Capital LLC TRC boosted its position in shares of Central Pacific Financial by 15.6% during the 2nd quarter. Tower Research Capital LLC TRC now owns 6,497 shares of the financial services provider's stock valued at $102,000 after acquiring an additional 879 shares during the last quarter. Finally, Captrust Financial Advisors boosted its position in shares of Central Pacific Financial by 127.6% during the 1st quarter. Captrust Financial Advisors now owns 1,853 shares of the financial services provider's stock valued at $52,000 after acquiring an additional 1,039 shares during the last quarter. Hedge funds and other institutional investors own 88.42% of the company's stock.

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.