Analysts Anticipate Central Pacific Financial Corp. (CPF) Will Announce Quarterly Sales of $53.15 Million
Equities analysts predict that Central Pacific Financial Corp. (NYSE:CPF) will post $53.15 million in sales for the current quarter, Zacks reports. Two analysts have made estimates for Central Pacific Financial’s earnings, with the lowest sales estimate coming in at $53.00 million and the highest estimate coming in at $53.30 million. Central Pacific Financial reported sales of $51.56 million in the same quarter last year, which would suggest a positive year over year growth rate of 3.1%. The company is scheduled to issue its next quarterly earnings results on Wednesday, October 24th.
According to Zacks, analysts expect that Central Pacific Financial will report full-year sales of $211.05 million for the current financial year, with estimates ranging from $210.30 million to $211.80 million. For the next financial year, analysts forecast that the firm will post sales of $222.85 million, with estimates ranging from $221.40 million to $224.30 million. Zacks’ sales calculations are an average based on a survey of analysts that that provide coverage for Central Pacific Financial.
Central Pacific Financial (NYSE:CPF) last posted its quarterly earnings results on Wednesday, July 25th. The financial services provider reported $0.48 EPS for the quarter, topping the consensus estimate of $0.47 by $0.01. The company had revenue of $52.30 million during the quarter, compared to analysts’ expectations of $52.45 million. Central Pacific Financial had a net margin of 19.71% and a return on equity of 10.54%.
In other news, EVP Arnold D. Martines sold 1,080 shares of the business’s stock in a transaction that occurred on Friday, August 3rd. The shares were sold at an average price of $27.99, for a total transaction of $30,229.20. Following the completion of the sale, the executive vice president now owns 24 shares in the company, valued at approximately $671.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 4.30% of the stock is currently owned by insiders.
Several large investors have recently modified their holdings of the company. Itau Unibanco Holding S.A. purchased a new stake in Central Pacific Financial in the 2nd quarter valued at $102,000. SG Americas Securities LLC purchased a new stake in Central Pacific Financial in the 2nd quarter valued at $166,000. Piedmont Investment Advisors LLC purchased a new stake in Central Pacific Financial in the 2nd quarter valued at $197,000. Stevens Capital Management LP purchased a new stake in Central Pacific Financial in the 2nd quarter valued at $201,000. Finally, Xact Kapitalforvaltning AB raised its position in Central Pacific Financial by 61.7% in the 1st quarter. Xact Kapitalforvaltning AB now owns 11,795 shares of the financial services provider’s stock valued at $336,000 after purchasing an additional 4,500 shares during the last quarter. Institutional investors and hedge funds own 92.20% of the company’s stock.
Shares of NYSE:CPF traded down $0.33 during trading on Friday, hitting $26.36. 111,481 shares of the company were exchanged, compared to its average volume of 143,499. The company has a market capitalization of $777.66 million, a PE ratio of 16.58 and a beta of 1.04. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 0.19. Central Pacific Financial has a 12-month low of $25.90 and a 12-month high of $33.15.
The business also recently disclosed a quarterly dividend, which was paid on Monday, September 17th. Stockholders of record on Friday, August 31st were given a dividend of $0.21 per share. The ex-dividend date of this dividend was Thursday, August 30th. This represents a $0.84 annualized dividend and a dividend yield of 3.19%. Central Pacific Financial’s dividend payout ratio is presently 52.83%.
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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