Central Pacific Financial Corp. (CPF) is Initiated by Piper Jaffray to Neutral, Price Target at $25

Central Pacific Financial Corp. (CPF) was Initiated by Piper Jaffray to “Neutral” and the brokerage firm has set the Price Target at $25. Piper Jaffray advised their investors in a research report released on Jul 8, 2016.

On the company’s financial health, Central Pacific Financial Corp. reported $0.35 EPS for the quarter, beating the analyst consensus estimate by $ 0.02 according to the earnings call on Apr 28, 2016. Analyst had a consensus of $0.33.Analysts expectations of $ 48.82.

Central Pacific Financial Corp. closed down -0.43 points or -1.84% at $22.95 with 1,17,137 shares getting traded on Tuesday. Post opening the session at $23.17, the shares hit an intraday low of $22.84 and an intraday high of $23.2 and the price fluctuated in this range throughout the day.Shares ended Tuesday session in Red.

In a different news, on May 25, 2016, Lance A. Mizumoto (President & CBO) sold 17,662 shares at $23.50 per share price. According to the SEC, on Mar 7, 2016, David William Hudson (EVP) sold 16,667 shares at $21.00 per share price. On Feb 8, 2016, Colbert M Matsumoto (director) purchased 5,000 shares at $19.75 per share price, according to the Form-4 filing with the securities and exchange commission.

Central Pacific Financial Corp. is a bank holding company. The Company’s principal business is to serve as a holding company for its bank subsidiary Central Pacific Bank (the bank). The Company operates through three segments. The Banking Operations segment includes construction and commercial real estate lending commercial lending residential mortgage lending consumer lending trust services retail brokerage services and the Company’s retail branch offices which provide a range of deposit and loan products as well as various other banking services. The Treasury segment is responsible for managing the Company’s investment securities portfolio and wholesale funding activities. The All Others segment includes activities such as electronic banking data processing and management of bank owned properties. The Company offers full service commercial banking with 36 bank branches and 110 automated teller machines (ATMs) located throughout the state of Hawaii.

Central Pacific Financial Corp.

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