CPB (NYSE:CPF) Releases Earnings Results, Beats Estimates By $0.03 EPS

CPB (NYSE:CPF) posted its quarterly earnings results on Wednesday. The financial services provider reported $0.88 EPS for the quarter, beating the consensus estimate of $0.85 by $0.03, FiscalAI reports. The business had revenue of $76.83 million during the quarter, compared to analyst estimates of $77.27 million.

CPB Stock Performance

Shares of NYSE CPF traded up $0.40 during trading hours on Wednesday, hitting $38.22. The stock had a trading volume of 17,289 shares, compared to its average volume of 157,694. The firm’s 50-day moving average price is $37.00 and its two-hundred 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 $983.92 million, a P/E ratio of 12.26 and a beta of 0.87.

Wall Street Analyst Weigh In

CPF has been the topic of several research analyst reports. Benchmark assumed coverage on shares of CPB in a research note on Thursday, July 9th. They set a “buy” rating and a $44.00 target price on the stock. Zacks Research downgraded shares of CPB from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, August 26th. Hovde Group assumed coverage on shares of CPB in a research note on Friday, October 2nd. They set a “market perform” rating and a $38.00 price objective on the stock. Finally, Weiss Ratings raised CPB from a “buy (b+)” rating to a “buy (a-)” rating in a report on Tuesday. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $39.00.

CPB Company Profile

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.