Central Pacific Financial Corp. (CPF) Releases Earnings Results, Beats Expectations By $0.02 EPS

Central Pacific Financial Corp. (CPF) reported quarterly earnings results on Thursday, Apr-28-2016. The company said it had a profit of $0.35 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.02. Analysts had a consensus of $0.33. Analysts expectations of $48.82 million.

Many Wall Street Analysts have commented on Central Pacific Financial Corp.. Shares were Reiterated by RBC Capital Mkts on Feb 1, 2016 to “Sector Perform” and Lowered the Price Target to $ 22 from a previous price target of $25 .

Central Pacific Financial Corp. closed down -0.24 points or -1.07% at $22.17 with 1,53,360 shares getting traded on Wednesday. Post opening the session at $22.38, the shares hit an intraday low of $22.07 and an intraday high of $22.5 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.

In a different news, on Mar 7, 2016, David William Hudson (EVP) sold 16,667 shares at $21.00 per share price. According to the SEC, on Feb 8, 2016, Colbert M Matsumoto (director) purchased 5,000 shares at $19.75 per share price. On Feb 5, 2016, Saedene K Ota (director) purchased 500 shares at $20.03 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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