Central Pacific Financial (NYSE:CPF) Releases Quarterly Earnings Results, Beats Estimates By $0.10 EPS

Central Pacific Financial (NYSE:CPF) issued its quarterly earnings results on Wednesday. The financial services provider reported $0.58 EPS for the quarter, topping analysts’ consensus estimates of $0.48 by $0.10, Zacks reports. The company had revenue of $87.96 million for the quarter, compared to analyst estimates of $61.74 million. Central Pacific Financial had a net margin of 16.44% and a return on equity of 11.36%. During the same quarter in the previous year, the business earned $0.53 earnings per share.

Central Pacific Financial Trading Down 1.8 %

Shares of CPF stock traded down $0.46 on Friday, hitting $25.36. The company had a trading volume of 280,028 shares, compared to its average volume of 227,687. Central Pacific Financial has a twelve month low of $14.69 and a twelve month high of $27.48. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.85 and a current ratio of 0.86. The firm has a market cap of $686.24 million, a P/E ratio of 12.37 and a beta of 1.13. The stock’s 50-day moving average is $21.93 and its two-hundred day moving average is $20.39.

Central Pacific Financial Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 16th. Shareholders of record on Friday, August 30th will be issued a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a yield of 4.10%. The ex-dividend date is Friday, August 30th. Central Pacific Financial’s payout ratio is presently 50.73%.

Insider Buying and Selling

In other news, Director Agnes Catherine Ngo sold 3,333 shares of the company’s stock in a transaction on Friday, July 12th. The shares were sold at an average price of $22.67, for a total value of $75,559.11. Following the sale, the director now directly owns 75,357 shares of the company’s stock, valued at approximately $1,708,343.19. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 2.70% of the stock is owned by insiders.

Central Pacific Financial Company Profile

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.