Revenue Update on Central Pacific Financial Corp.(NYSE:CPF)

Central Pacific Financial Corp.(NYSE:CPF) announced the earnings results for Fiscal Year 2016 and Q2. The results came in during Pre-market on Jul 28, 2016. Company reported revenue of $39.61M. Analysts estimated a revenue of $43.49M. Earnings per share were $0.39. Analysts had estimated an EPS of $0.35.

In a different note, Piper Jaffray said it Initiates Coverage on Central Pacific Financial Corp., according to a research note issued on Jul 8, 2016. The shares have been rated ‘Neutral’ by the firm.

Central Pacific Financial Corp. (CPF) shares turned negative on Thursdays trading session with the shares closing down -0.06 points or -0.24% at a volume of 66,518. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $24.77. The peak price level was also seen at $24.77 while the days lowest was $24.53. Finally the shares closed at $24.57. The 52-week high of the shares is $24.98 while the 52-week low is $18.47. According to the latest information available, the market cap of the company is $763 M.

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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