Equities research analysts expect Central Pacific Financial Corp. (NYSE:CPF) to report sales of $60.00 million for the current quarter, Zacks reports. Two analysts have issued estimates for Central Pacific Financial’s earnings, with estimates ranging from $59.50 million to $60.50 million. Central Pacific Financial posted sales of $55.92 million during the same quarter last year, which suggests a positive year-over-year growth rate of 7.3%. The company is scheduled to issue its next earnings report on Wednesday, October 28th.
On average, analysts expect that Central Pacific Financial will report full year sales of $239.76 million for the current fiscal year, with estimates ranging from $239.50 million to $240.01 million. For the next year, analysts forecast that the company will post sales of $232.36 million, with estimates ranging from $229.90 million to $234.82 million. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side analysts that follow Central Pacific Financial.
Central Pacific Financial (NYSE:CPF) last released its quarterly earnings data on Wednesday, July 29th. The financial services provider reported $0.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.22 by $0.13. Central Pacific Financial had a net margin of 18.39% and a return on equity of 8.82%. The firm had revenue of $59.95 million for the quarter, compared to analysts’ expectations of $58.16 million.
A number of equities analysts have issued reports on the stock. ValuEngine cut shares of Central Pacific Financial from a “hold” rating to a “sell” rating in a research report on Monday, August 3rd. Zacks Investment Research upgraded shares of Central Pacific Financial from a “sell” rating to a “hold” rating in a research report on Tuesday, August 11th.
Three of the world’s smartest hedge fund managers are stumped! And now there’s ONE new stock that could see gains of 357.53% even this week. See the ONE stock that’s likely to be making headlines
CPF stock opened at $15.56 on Thursday. The firm’s 50-day moving average price is $15.54 and its two-hundred day moving average price is $17.26. Central Pacific Financial has a 12-month low of $12.40 and a 12-month high of $30.56. The stock has a market capitalization of $436.11 million, a price-to-earnings ratio of 9.43 and a beta of 1.18. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.31.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Monday, August 31st will be paid a $0.23 dividend. The ex-dividend date of this dividend is Friday, August 28th. This represents a $0.92 annualized dividend and a dividend yield of 5.91%. Central Pacific Financial’s dividend payout ratio is presently 45.32%.
In other news, Director Crystal Rose bought 1,900 shares of the company’s stock in a transaction dated Thursday, June 11th. The shares were purchased at an average price of $17.44 per share, for a total transaction of $33,136.00. Following the completion of the purchase, the director now owns 27,175 shares in the company, valued at approximately $473,932. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Corporate insiders own 3.70% of the company’s stock.
Several institutional investors and hedge funds have recently modified their holdings of CPF. Texas Permanent School Fund grew its holdings in shares of Central Pacific Financial by 24.1% in the first quarter. Texas Permanent School Fund now owns 24,083 shares of the financial services provider’s stock worth $383,000 after acquiring an additional 4,673 shares during the period. Ziegler Capital Management LLC bought a new stake in Central Pacific Financial during the first quarter valued at about $821,000. Comerica Bank boosted its stake in shares of Central Pacific Financial by 2.6% in the first quarter. Comerica Bank now owns 27,468 shares of the financial services provider’s stock worth $428,000 after acquiring an additional 695 shares during the period. Los Angeles Capital Management & Equity Research Inc. boosted its stake in shares of Central Pacific Financial by 105.6% in the first quarter. Los Angeles Capital Management & Equity Research Inc. now owns 33,067 shares of the financial services provider’s stock worth $526,000 after acquiring an additional 16,987 shares during the period. Finally, Aperio Group LLC boosted its stake in shares of Central Pacific Financial by 75.7% in the first quarter. Aperio Group LLC now owns 31,771 shares of the financial services provider’s stock worth $505,000 after acquiring an additional 13,684 shares during the period. 88.36% of the stock is owned by institutional investors.
Central Pacific Financial Company Profile
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.
Featured Story: How Do Mutual Funds Work?
Get a free copy of the Zacks research report on Central Pacific Financial (CPF)
For more information about research offerings from Zacks Investment Research, visit Zacks.com
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send any questions or comments about this story to [email protected]
8 Consumer Staples Stocks That Offer Good Value
Chances are you’ve been spending more time at home than usual. You may also be spending more of your budget on some creature comforts that might normally make it on your shopping list. These are the consumer staples that you rely on every day.
And that’s what makes the consumer staples one of the most interesting sectors for investors.
For starters, consumer staples are defensive stocks. They are stocks that tend to perform well when the economy is doing well or when it is performing poorly. That’s because they are essentials like toilet paper, packaged foods and beverages, even alcohol and tobacco.
Now the opposite side of this coin is that the price you pay for these items is somewhat fixed. And that means these stocks don’t fit the definition of growth stocks. But the Covid-19 pandemic has changed that equation a little bit. It’s not that people are necessarily paying more for these items. But they are buying more of these items.
And this means that consumer staples are having their moment in the sun. However, it also means that right now there are several consumer staples that are looking a little pricey. But if you know anything about these stocks, you know that many of these companies are mature companies that pay a respectable, and safe, dividend.
Fortunately, there are still several stocks that appear to have room to grow and offer a nice dividend for investors.
