Central Pacific Financial (NYSE:CPF) Issues Earnings Results

Central Pacific Financial (NYSE:CPF) issued its quarterly earnings results on Wednesday. The financial services provider reported $0.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.56 by $0.02, reports. Central Pacific Financial had a return on equity of 11.44% and a net margin of 16.10%. The firm had revenue of $66.59 million during the quarter, compared to analyst estimates of $65.22 million.

Central Pacific Financial Price Performance

Shares of NYSE CPF opened at $26.95 on Friday. The firm has a 50-day moving average of $28.12 and a two-hundred day moving average of $24.09. The company has a market capitalization of $729.27 million, a price-to-earnings ratio of 12.83 and a beta of 1.13. The company has a current ratio of 0.85, a quick ratio of 0.86 and a debt-to-equity ratio of 0.35. Central Pacific Financial has a twelve month low of $15.62 and a twelve month high of $30.30.

Central Pacific Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 29th will be given a $0.26 dividend. This represents a $1.04 annualized dividend and a yield of 3.86%. The ex-dividend date is Friday, November 29th. Central Pacific Financial’s dividend payout ratio (DPR) is presently 49.52%.

Institutional Trading of Central Pacific Financial

Hedge funds and other institutional investors have recently made changes to their positions in the business. Boston Partners bought a new position in shares of Central Pacific Financial in the first quarter valued at $740,000. State Board of Administration of Florida Retirement System acquired a new stake in shares of Central Pacific Financial during the first quarter worth $409,000. Acadian Asset Management LLC lifted its holdings in shares of Central Pacific Financial by 359.7% during the first quarter. Acadian Asset Management LLC now owns 462,925 shares of the financial services provider’s stock valued at $9,140,000 after purchasing an additional 362,232 shares during the last quarter. LSV Asset Management boosted its position in shares of Central Pacific Financial by 9.5% in the 1st quarter. LSV Asset Management now owns 599,368 shares of the financial services provider’s stock valued at $11,838,000 after purchasing an additional 51,967 shares during the period. Finally, nVerses Capital LLC purchased a new position in Central Pacific Financial in the 3rd quarter worth about $50,000. 88.42% of the stock is currently owned by institutional investors.

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.