Central Pacific Financial Q2 Profit Declines, But Meets Estimates

RTTNews | 664 dagar sedan
Stocktwits
Central Pacific Financial Q2 Profit Declines, But Meets Estimates

(RTTNews) - Central Pacific Financial Corp. (CPF) the parent company of Central Pacific Bank, on Wednesday reported that net income for the second quarter declined to $14.48 million or $0.53 per share from $17.59 million or $0.64 per share in the prior-year quarter.

The company recorded a provision for credit loss of $4.32 million, compared to $989 million last year.

Net interest income edged down to $52.73 million from $52.98 million in the year-ago quarter. Other operating income declined to $10.44 million from $17.14 million a year ago.

On average, analysts polled by Thomson Reuters expected the company to report earnings of $0.53 per share on revenues of $53.49 million for the quarter. Analysts' estimates typically exclude special items.

On Tuesday, the Company's Board of Directors declared a quarterly cash dividend of $0.26 per share on its outstanding common shares, payable on September 15, 2023 to shareholders of record at the close of business on August 31, 2023.

For more earnings news, earnings calendar, and earnings for stocks, visit rttnews.com

Taggar: CPF
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