$62.89 million in expected sales for Central Pacific Financial Corp. (NYSE:CPF) this quarter


Equity research analysts predict that Central Pacific Financial Corp. (NYSE:CPF – Get Rating) will report sales of $62.89 million for the current fiscal quarter, reports Zacks Investment Research. Two analysts have made estimates of Central Pacific Financial’s earnings, with estimates ranging from $61.98 million to $63.80 million. Central Pacific Financial posted sales of $60.52 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 3.9%. The company is expected to release its next quarterly results before the market opens on Monday, January 1.

On average, analysts expect Central Pacific Financial to report annual sales of $257.51 million for the current fiscal year, with estimates ranging from $256.12 million to $258.90 million. . For next year, analysts expect the company to register sales of $280.90 million, with estimates ranging from $280.40 to $281.40 million. Zacks Investment Research’s sell averages are an average based on a survey of sell-side analysts who provide coverage for Central Pacific Financial.

Central Pacific Financial (NYSE:CPF – Get Rating) last released its results on Wednesday, January 26. The financial services provider reported EPS of $0.80 for the quarter, beating analyst consensus estimates of $0.64 by $0.16. Central Pacific Financial had a return on equity of 14.46% and a net margin of 30.51%. The company posted revenue of $64.66 million for the quarter, versus a consensus estimate of $64.12 million. In the same quarter a year earlier, the company earned $0.43 per share.

A number of analysts have recently commented on the company. Zacks Investment Research upgraded Central Pacific Financial from a “hold” rating to a “strong-buy” rating and set a target price of $33.00 on the stock in a research note on Friday, January 28. Raymond James raised his price target on Central Pacific Financial from $29.00 to $33.00 and gave the stock an “outperform” rating in a Thursday, Jan. 27 research note. Compass Point upgraded Central Pacific Financial from a “buy” rating to a “neutral” rating and lowered its price target for the stock from $31.00 to $30.00 in a Thursday, January 27 report. Finally, StockNews.com launched coverage on Central Pacific Financial in a Thursday, March 31 report. They issued a “maintaining” rating for the company.

Shares of CPF traded down $0.16 in midday trading on Monday, hitting $26.42. The company had a trading volume of 103,497 shares, compared to an average volume of 175,852. Central Pacific Financial has a 52-week low of $23.12 and a 52-week high of $30.97. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt ratio of 0.19. The company has a market capitalization of $730.14 million, a PE ratio of 9.30 and a beta of 1.18. The company has a 50-day moving average price of $28.24.

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 15. Investors of record on Monday, February 28 received a dividend of $0.26. This is a boost from Central Pacific Financial’s previous quarterly dividend of $0.25. The ex-dividend date was Friday, February 25. This represents a dividend of $1.04 on an annualized basis and a yield of 3.94%. Central Pacific Financial’s dividend payout ratio is currently 36.62%.

In other Central Pacific Financial news, Chairman Agnes Catherine Ngo sold 6,135 shares in a trade that took place on Monday, February 28. The stock was sold at an average price of $29.20, for a total transaction of $179,142.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 2.80% of the company’s shares.

Institutional investors have recently changed their positions in the company. BNP Paribas Arbitrage SA increased its stake in shares of Central Pacific Financial by 1.5% in the fourth quarter. BNP Paribas Arbitrage SA now owns 31,276 shares of the financial services provider valued at $881,000 after buying an additional 477 shares in the last quarter. UBS Asset Management Americas Inc. increased its holding in shares of Central Pacific Financial by 2.0% in the third quarter. UBS Asset Management Americas Inc. now owns 28,846 shares of the financial services provider valued at $741,000 after buying 573 additional shares in the last quarter. Nisa Investment Advisors LLC increased its holdings of Central Pacific Financial shares by 12.1% in the fourth quarter. Nisa Investment Advisors LLC now owns 5,570 shares of the financial services provider valued at $162,000 after buying an additional 600 shares in the last quarter. Royal Bank of Canada increased its holdings of Central Pacific Financial shares by 51.6% in the second quarter. Royal Bank of Canada now owns 1,892 shares of the financial services provider valued at $49,000 after buying an additional 644 shares in the last quarter. Finally, Deutsche Bank AG increased its stake in shares of Central Pacific Financial by 3.2% in the fourth quarter. Deutsche Bank AG now owns 22,399 shares of the financial services provider valued at $631,000 after buying an additional 694 shares in the last quarter. 89.31% of the shares are held by institutional investors and hedge funds.

Central Pacific Financial Company Profile (Get a rating)

Central Pacific Financial Corp. is the holding company of 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 term deposit certificates.

See also

Get a Free Copy of Zacks Research Report on Central Pacific Financial (CPF)

For more information on Zacks Investment Research’s research offerings, visit Zacks.com

Earnings history and estimates for Central Pacific Financial (NYSE:CPF)



Get news and reviews for Central Pacific Financial Daily – Enter your email address below to receive a concise daily summary of breaking news and analyst ratings for Central Pacific Financial and related companies with MarketBeat.com’s free daily email newsletter.

Comments are closed.