Central Pacific Financial (CPF) Reports Q2 Earnings: What Key Metrics Have to Say
For the quarter ended June 2023, Central Pacific Financial (CPF) reported revenue of $63.17 million, down 9.9% over the same period last year. EPS came in at $0.53, compared to $0.64 in the year-ago quarter.
The reported revenue represents a surprise of -1.58% over the Zacks Consensus Estimate of $64.18 million. With the consensus EPS estimate being $0.54, the EPS surprise was -1.85%.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how Central Pacific Financial performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Efficiency Ratio: 63.17% compared to the 64.6% average estimate based on two analysts.
Net Interest Margin: 2.96% versus the two-analyst average estimate of 3%.
Total nonaccrual loans: $11.06 million compared to the $5.97 million average estimate based on two analysts.
Total nonperforming assets: $11.06 million versus $9.06 million estimated by two analysts on average.
Net charge-offs to average loans: 0.24% versus 0.15% estimated by two analysts on average.
Total noninterest Income/ Total other operating income: $10.44 million versus $10.79 million estimated by two analysts on average.
Net Interest Income: $52.73 million versus the two-analyst average estimate of $53.39 million.
View all Key Company Metrics for Central Pacific Financial here>>>
Shares of Central Pacific Financial have returned +14.3% over the past month versus the Zacks S&P 500 composite's +5.1% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
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