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. The company's lending activities comprise commercial loans, financial and agricultural loans, commercial and residential mortgages, and construction loans to small and medium-sized companies, business professionals, and real estate investors and developers, as well as home equity, and consumer loans to local homebuyers and individuals. It also provides debit cards, internet and mobile banking, cash management, full-service ATMs, digital banking services, traveler's checks, safe deposit boxes, international banking services, night depository facilities, foreign exchange and wire transfers, trust services, and retail brokerage services. In addition, the company offers wealth management products and services, including non-deposit investment products, annuities, insurance, investment management, asset custody, and general consultation and planning services. As of December 31, 2021, it operated 30 branches and 69 automated teller machines in the state of Hawaii. The company was incorporated in 1954 and is headquartered in Honolulu, Hawaii.
Analyst Upgrades and Downgrades
CPF has been the subject of a number of analyst reports. StockNews.com downgraded shares of Central Pacific Financial from a "buy" rating to a "hold" rating in a research note on Sunday, May 29th. Compass Point reduced their price target on shares of Central Pacific Financial from $30.00 to $29.00 in a research report on Thursday, April 21st. Finally, Raymond James reduced their price target on shares of Central Pacific Financial from $33.00 to $26.00 and set an "outperform" rating for the company in a research report on Thursday, July 7th.
Central Pacific Financial Price Performance
Shares of CPF opened at $23.49 on Wednesday. Central Pacific Financial has a 1-year low of $20.61 and a 1-year high of $30.97. The stock has a market cap of $647.20 million, a PE ratio of 8.16 and a beta of 1.21. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.81 and a quick ratio of 0.81. The firm has a fifty day moving average price of $22.48 and a 200 day moving average price of $25.46.
Central Pacific Financial (NYSE:CPF - Get Rating) last announced its earnings results on Wednesday, July 27th. The financial services provider reported $0.64 EPS for the quarter, beating analysts' consensus estimates of $0.55 by $0.09. Central Pacific Financial had a net margin of 29.75% and a return on equity of 15.60%. The business had revenue of $70.12 million during the quarter, compared to analysts' expectations of $62.25 million. As a group, sell-side analysts anticipate that Central Pacific Financial will post 2.55 EPS for the current year.
Central Pacific Financial Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 15th. Stockholders of record on Wednesday, August 31st will be issued a $0.26 dividend. The ex-dividend date of this dividend is Tuesday, August 30th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 4.43%. Central Pacific Financial's payout ratio is 36.11%.