Brokerages expect that Central Pacific Financial Corp. (NYSE:CPF) will report sales of $56.08 million for the current fiscal quarter, Zacks reports. Two analysts have made estimates for Central Pacific Financial’s earnings, with the highest sales estimate coming in at $56.10 million and the lowest estimate coming in at $56.05 million. Central Pacific Financial reported sales of $56.79 million in the same quarter last year, which would suggest a negative year-over-year growth rate of 1.3%. The firm is expected to announce its next quarterly earnings report on Wednesday, April 22nd.
On average, analysts expect that Central Pacific Financial will report full-year sales of $220.74 million for the current year, with estimates ranging from $217.80 million to $223.67 million. For the next fiscal year, analysts expect that the company will report sales of $223.60 million, with estimates ranging from $221.60 million to $225.60 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side analysts that that provide coverage for Central Pacific Financial.
Central Pacific Financial (NYSE:CPF) last announced its quarterly earnings data on Wednesday, January 29th. The financial services provider reported $0.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.49 by $0.01. The company had revenue of $57.70 million for the quarter, compared to the consensus estimate of $55.90 million. Central Pacific Financial had a return on equity of 11.26% and a net margin of 22.59%.
A number of research analysts have recently issued reports on the company. Zacks Investment Research downgraded Central Pacific Financial from a “hold” rating to a “sell” rating in a research note on Monday. TheStreet downgraded Central Pacific Financial from a “b-” rating to a “c+” rating in a research note on Tuesday, March 10th.
Shares of NYSE:CPF opened at $14.94 on Friday. The company has a market capitalization of $388.92 million, a price-to-earnings ratio of 7.36 and a beta of 1.07. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.86 and a quick ratio of 0.86. The business’s 50-day moving average is $23.23 and its 200-day moving average is $27.56. Central Pacific Financial has a 1 year low of $12.40 and a 1 year high of $30.82.
The company also recently declared a quarterly dividend, which was paid on Monday, March 16th. Investors of record on Friday, February 28th were paid a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 6.16%. The ex-dividend date of this dividend was Thursday, February 27th. Central Pacific Financial’s dividend payout ratio (DPR) is currently 45.32%.
A number of hedge funds have recently bought and sold shares of the stock. California State Teachers Retirement System raised its stake in Central Pacific Financial by 1.2% during the 3rd quarter. California State Teachers Retirement System now owns 43,486 shares of the financial services provider’s stock worth $1,235,000 after buying an additional 519 shares during the period. PNC Financial Services Group Inc. raised its stake in shares of Central Pacific Financial by 67.4% in the fourth quarter. PNC Financial Services Group Inc. now owns 1,441 shares of the financial services provider’s stock worth $42,000 after purchasing an additional 580 shares during the last quarter. Swiss National Bank raised its stake in shares of Central Pacific Financial by 1.9% in the fourth quarter. Swiss National Bank now owns 54,700 shares of the financial services provider’s stock worth $1,618,000 after purchasing an additional 1,000 shares during the last quarter. Point72 Hong Kong Ltd purchased a new stake in shares of Central Pacific Financial in the fourth quarter worth approximately $37,000. Finally, Bailard Inc. raised its stake in shares of Central Pacific Financial by 9.0% in the fourth quarter. Bailard Inc. now owns 17,000 shares of the financial services provider’s stock worth $503,000 after purchasing an additional 1,400 shares during the last quarter. 91.70% of the stock is currently owned by institutional investors and hedge funds.
About Central Pacific Financial
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 Hawaii. The company operates in three segments: Banking Operations, Treasury, and All Others. It offers various deposit products and services, including personal and business checking and savings accounts, money market accounts, and time certificates of deposit.
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