Here's What Key Metrics Tell Us About Central Pacific Financial (CPF) Q3 Earnings
Although the revenue and EPS for Central Pacific Financial (CPF) give a sense of how its business performed in the quarter ended September 2024, it might be worth considering how some key metrics compare with Wall Street estimates and the year-ago numbers.
Central Pacific Financial (CPF) Q3 Earnings and Revenues Top Estimates
Central Pacific Financial (CPF) came out with quarterly earnings of $0.58 per share, beating the Zacks Consensus Estimate of $0.56 per share. This compares to earnings of $0.49 per share a year ago.
Central Pacific Financial (CPF) Surges 6.2%: Is This an Indication of Further Gains?
Central Pacific Financial (CPF) saw its shares surge in the last session with trading volume being higher than average. The latest trend in earnings estimate revisions may not translate into further price increase in the near term.
Central Pacific Financial Corp. (CPF) Q2 2024 Earnings Call Transcript
Central Pacific Financial Corp. (NYSE:CPF ) Q2 2024 Earnings Conference Call July 31, 2024 1:00 PM ET Company Participants Dayna Matsumoto - Group Senior Vice President, Director Finance & Accounting & Controller Arnold Martines - Chairman, President & Chief Executive Officer David Morimoto - Senior Executive Vice President & Chief Financial Officer Anna Hu - Executive Vice President and Chief Credit Officer Conference Call Participants David Feaster - Raymond James Andrew Liesch - Piper Sandler Operator Good afternoon, ladies and gentlemen. Thank you for standing by and welcome to the Central Pacific Financial Corp. Second Quarter 2024 Conference Call.
Compared to Estimates, Central Pacific Financial (CPF) Q2 Earnings: A Look at Key Metrics
Although the revenue and EPS for Central Pacific Financial (CPF) give a sense of how its business performed in the quarter ended June 2024, it might be worth considering how some key metrics compare with Wall Street estimates and the year-ago numbers.
Central Pacific Financial (CPF) Beats Q2 Earnings and Revenue Estimates
Central Pacific Financial (CPF) came out with quarterly earnings of $0.58 per share, beating the Zacks Consensus Estimate of $0.48 per share. This compares to earnings of $0.53 per share a year ago.
Central Pacific Financial (CPF) Upgraded to Strong Buy: Here's What You Should Know
Central Pacific Financial (CPF) has been upgraded to a Zacks Rank #1 (Strong Buy), reflecting growing optimism about the company's earnings prospects. This might drive the stock higher in the near term.
Here's Why Central Pacific (CPF) Stock is Worth Betting on
Central Pacific's (CPF) solid loans and deposit balance, balance sheet optimization efforts and swap initiatives are likely to aid its financials. This makes the stock an attractive pick for investors.
Are Investors Undervaluing CPB (CPF) Right Now?
Here at Zacks, our focus is on the proven Zacks Rank system, which emphasizes earnings estimates and estimate revisions to find great stocks. Nevertheless, we are always paying attention to the latest value, growth, and momentum trends to underscore strong picks.
Panagora Asset Management Inc. Lowers Position in Central Pacific Financial Corp. (NYSE:CPF)
Panagora Asset Management Inc. decreased its position in shares of Central Pacific Financial Corp. (NYSE:CPF – Free Report) by 0.8% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 158,798 shares of the financial services provider’s stock after selling 1,323 shares during the period. Panagora Asset Management Inc. owned about 0.59% of Central Pacific Financial worth $3,125,000 at the end of the most recent quarter. Several other institutional investors have also recently made changes to their positions in CPF. Quantbot Technologies LP grew its stake in Central Pacific Financial by 11.8% in the third quarter. Quantbot Technologies LP now owns 11,372 shares of the financial services provider’s stock worth $190,000 after purchasing an additional 1,202 shares during the period. New York State Common Retirement Fund grew its position in shares of Central Pacific Financial by 77.5% in the 3rd quarter. New York State Common Retirement Fund now owns 12,619 shares of the financial services provider’s stock worth $210,000 after buying an additional 5,509 shares during the period. Natixis Advisors L.P. bought a new position in shares of Central Pacific Financial in the 4th quarter worth about $222,000. Mirae Asset Global Investments Co. Ltd. lifted its position in Central Pacific Financial by 6.1% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 14,675 shares of the financial services provider’s stock valued at $245,000 after acquiring an additional 841 shares during the period. Finally, Louisiana State Employees Retirement System purchased a new position in Central Pacific Financial during the 4th quarter valued at about $266,000. Institutional investors own 88.42% of the company’s stock. Analyst Ratings Changes Separately, Piper Sandler raised their target price on shares of Central Pacific Financial from $22.00 to $24.00 and gave the company an “overweight” rating in a research note on Thursday, February 1st. View Our Latest Stock Analysis on Central Pacific Financial Central Pacific Financial Trading Up 0.4 % Central Pacific Financial stock opened at $21.48 on Monday. Central Pacific Financial Corp. has a 12 month low of $14.25 and a 12 month high of $22.00. The company has a market capitalization of $580.82 million, a price-to-earnings ratio of 10.48 and a beta of 1.12. The business’s fifty day simple moving average is $19.75 and its two-hundred day simple moving average is $19.12. The company has a current ratio of 0.86, a quick ratio of 0.85 and a debt-to-equity ratio of 0.37. Central Pacific Financial (NYSE:CPF – Get Free Report) last announced its quarterly earnings data on Wednesday, April 24th. The financial services provider reported $0.48 EPS for the quarter, beating the consensus estimate of $0.45 by $0.03. The company had revenue of $61.43 million for the quarter, compared to the consensus estimate of $60.78 million. Central Pacific Financial had a net margin of 16.44% and a return on equity of 11.34%. As a group, equities analysts predict that Central Pacific Financial Corp. will post 2 earnings per share for the current fiscal year. Central Pacific Financial Dividend Announcement The firm also recently declared a quarterly dividend, which will be paid on Monday, June 17th. Shareholders of record on Friday, May 31st will be given a $0.26 dividend. The ex-dividend date is Friday, May 31st. This represents a $1.04 annualized dividend and a yield of 4.84%. Central Pacific Financial’s payout ratio is presently 50.73%. Insider Transactions at Central Pacific Financial In related news, Director Agnes Catherine Ngo sold 3,333 shares of the firm’s stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $19.32, for a total value of $64,393.56. Following the transaction, the director now directly 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 through the SEC website. Insiders have sold 9,999 shares of company stock worth $198,347 in the last 90 days. 2.70% of the stock is currently owned by insiders. Central Pacific Financial Company Profile (Free Report) 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.
Natixis Advisors L.P. Buys New Shares in Central Pacific Financial Corp. (NYSE:CPF)
Natixis Advisors L.P. purchased a new position in Central Pacific Financial Corp. (NYSE:CPF – Free Report) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm purchased 11,317 shares of the financial services provider’s stock, valued at approximately $222,000. Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Central Pacific Financial by 5.0% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 15,410 shares of the financial services provider’s stock worth $303,000 after acquiring an additional 735 shares during the period. AQR Capital Management LLC increased its holdings in Central Pacific Financial by 0.3% in the 3rd quarter. AQR Capital Management LLC now owns 281,271 shares of the financial services provider’s stock valued at $4,692,000 after buying an additional 798 shares during the period. New York State Teachers Retirement System raised its stake in shares of Central Pacific Financial by 4.2% in the 4th quarter. New York State Teachers Retirement System now owns 25,075 shares of the financial services provider’s stock valued at $493,000 after buying an additional 1,022 shares in the last quarter. Quantbot Technologies LP lifted its holdings in shares of Central Pacific Financial by 11.8% during the 3rd quarter. Quantbot Technologies LP now owns 11,372 shares of the financial services provider’s stock worth $190,000 after acquiring an additional 1,202 shares during the period. Finally, Brandywine Global Investment Management LLC boosted its position in shares of Central Pacific Financial by 1.5% during the 3rd quarter. Brandywine Global Investment Management LLC now owns 95,417 shares of the financial services provider’s stock valued at $1,592,000 after acquiring an additional 1,434 shares in the last quarter. Institutional investors own 88.42% of the company’s stock. Insider Activity at Central Pacific Financial In other news, Director Agnes Catherine Ngo sold 3,333 shares of the stock in a transaction on Friday, April 12th. The stock was sold at an average price of $19.00, for a total transaction of $63,327.00. Following the sale, the director now owns 85,356 shares in the company, valued at $1,621,764. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders sold 9,999 shares of company stock valued at $198,347 in the last three months. Corporate insiders own 2.70% of the company’s stock. Central Pacific Financial Stock Performance Central Pacific Financial stock opened at $21.48 on Monday. Central Pacific Financial Corp. has a 52-week low of $14.25 and a 52-week high of $22.00. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.86 and a quick ratio of 0.85. The stock has a fifty day moving average price of $19.75 and a two-hundred day moving average price of $19.12. The firm has a market capitalization of $580.82 million, a P/E ratio of 10.48 and a beta of 1.12. Central Pacific Financial (NYSE:CPF – Get Free Report) last announced its quarterly earnings results on Wednesday, April 24th. The financial services provider reported $0.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.45 by $0.03. The firm had revenue of $61.43 million during the quarter, compared to the consensus estimate of $60.78 million. Central Pacific Financial had a net margin of 16.44% and a return on equity of 11.34%. As a group, analysts anticipate that Central Pacific Financial Corp. will post 2 EPS for the current fiscal year. Central Pacific Financial Announces Dividend The firm also recently declared a quarterly dividend, which will be paid on Monday, June 17th. Investors of record on Friday, May 31st will be given a dividend of $0.26 per share. The ex-dividend date is Friday, May 31st. This represents a $1.04 dividend on an annualized basis and a yield of 4.84%. Central Pacific Financial’s dividend payout ratio (DPR) is presently 50.73%. Analyst Ratings Changes Separately, Piper Sandler raised their price target on shares of Central Pacific Financial from $22.00 to $24.00 and gave the stock an “overweight” rating in a research note on Thursday, February 1st. Get Our Latest Stock Analysis on Central Pacific Financial Central Pacific Financial Company Profile (Free Report) 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. Read More Five stocks we like better than Central Pacific Financial What Makes a Stock a Good Dividend Stock? MarketBeat Week in Review – 5/13 – 5/17 Unveiling The Power Of VWAP: A Key Indicator For Traders Take-Two Interactive Software Offers 2nd Chance for Investors How is Compound Interest Calculated? Deere & Company’s Q2 Report: Strong Revenue, Cautious Outlook
