CPB (NYSE:CPF) Announces Earnings Results

CPB (NYSE:CPF) announced its earnings results on Wednesday. The financial services provider reported $0.88 earnings per share (EPS) for the quarter, topping the consensus estimate 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 Trading Up 0.6%

NYSE CPF traded up $0.22 on Wednesday, hitting $38.04. 16,191 shares of the company traded hands, compared to its average volume of 157,694. The company has a market capitalization of $979.49 million, a price-to-earnings ratio of 12.17 and a beta of 0.87. The business’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.

Wall Street Analysts Forecast Growth

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