CPB (NYSE:CPF) Releases Earnings Results

CPB (NYSE:CPF) announced its quarterly earnings data on Wednesday. The financial services provider reported $0.88 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.85 by $0.03, FiscalAI reports. The firm had revenue of $76.83 million during the quarter, compared to analysts’ expectations of $77.27 million.

CPB Price Performance

Shares of CPF stock traded up $0.22 during mid-day trading on Wednesday, hitting $38.04. The company had a trading volume of 16,191 shares, compared to its average volume of 157,694. The stock’s 50 day moving average price is $37.00 and its 200-day moving average price is $35.30. CPB has a 52-week low of $28.09 and a 52-week high of $40.99. The company has a market capitalization of $979.49 million, a P/E ratio of 12.17 and a beta of 0.87.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the stock. Hovde Group began coverage on shares of CPB in a report on Friday, October 2nd. They issued a “market perform” rating and a $38.00 target price for the company. Weiss Ratings raised CPB from a “buy (b+)” rating to a “buy (a-)” rating in a report on Tuesday. Zacks Research downgraded CPB from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, August 26th. Finally, Benchmark assumed coverage on CPB in a research report on Thursday, July 9th. They issued a “buy” rating and a $44.00 price objective on the stock. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $39.00.

About CPB

Central Pacific Financial Corp. is the bank holding company for Central Pacific Bank, a community-focused financial institution headquartered in Honolulu, Hawaii. Central Pacific Bank serves consumers, businesses, nonprofit organizations and government entities, with a focus on customers throughout the Hawaiian Islands.

The bank provides a range of financial products and services, including checking and savings accounts, certificates of deposit, consumer lending, residential mortgages, commercial and small-business loans, commercial real estate financing, and treasury management services.