Piper Jaffray Initiates Coverage on Central Pacific Financial Corp. to Neutral

Piper Jaffray Initiates Coverage on Central Pacific Financial Corp.(NYSE:CPF). The shares have been rated Neutral. The rating by Piper Jaffray was issued on Jul 8, 2016.

Central Pacific Financial Corp. (CPF) made into the market gainers list on Wednesdays trading session with the shares advancing 0.08% or 0.02 points. Due to strong positive momentum, the stock ended at $24.54, which is also near the day’s high of $24.64. The stock began the session at $24.47 and the volume stood at 1,29,319 shares. The 52-week high of the shares is $24.91 and the 52 week low is $18.47. The company has a current market capitalization of $762 M and it has 3,10,68,287 shares in outstanding.

Central Pacific Financial Corp.(CPF) last announced its earnings results on Apr 28, 2016 for Fiscal Year 2016 and Q1.Company reported revenue of $39.21M. Analysts had an estimated revenue of $41.00M. Earnings per share were $0.35. Analysts had estimated an EPS of $0.33.

Several Insider Transactions has been reported to the SEC. On May 25, 2016, Lance A. Mizumoto (President & CBO) sold 17,662 shares at $23.50 per share price.Also, 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.

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