NYSE$CPF

Central Pacific Financial Corp · Q4 2023 earnings

Q4 2023 earnings · · Investor relations

Briefing

Reported a net income of $14.9 million and EPS of $0.55 for the fourth quarter.

Central Pacific Financial Corp. reported a net income of $14.9 million, or $0.55 per diluted share, for Q4 2023. The results reflect a consistent business approach and commitment to the Hawaii marketplace.

  • Net income for the fourth quarter was $14.9 million, or $0.55 per diluted share.
  • The company's ROA was 0.79%, ROE was 12.55%, and NIM was 2.84% for the fourth quarter.
  • A balance sheet repositioning, including the sale of an office real estate property, branch lease termination and investment securities portfolio restructuring, resulted in a net $0.9 million pre-tax gain in the fourth quarter.
  • The Board of Directors approved a quarterly cash dividend of $0.26 per share and authorized a new share repurchase program of up to $20.0 million for 2024.

Headline financials

Total Revenue

$51.1M

Previous: $56.3M-9.1%
EPS (adj)

$0.55

Previous: $0.74-25.7%
Efficiency Ratio

64.1%

Previous: 59.6%+7.7%
CET1 Capital Ratio

11.4%

No prior period
Tier 1 Risk-Based Capital Ratio

12.4%

No prior period
Total Risk-Based Capital Ratio

14.6%

No prior period
Capital Expenditures

$1.68M

Previous: $3.46M-51.4%
Net Income

$14.9M

Previous: $20.2M-26.3%
Operating Income

$19.1M

Previous: $26.9M-28.8%
Gross Profit

$89.3M

Previous: $67.9M+31.5%
Stock-Based Comp

$432K

Previous: $920K-53.0%

Revenue & EPS history

Central Pacific Financial · Revenue · Quarterly

$51.1M

Q4 2023-9.1%vs Q4 2022
Beat estimate in 5 of 15 quarters(33%)
ActualEstimate

Forward guidance

The company believes they are positioned to deliver a strong financial performance in 2024, highlighted by their strategic relationship focused approach and their solid liquidity, capital and asset quality.

Historical earnings impact

How earnings announcements have historically affected this stock's price.

Avg. return before/after earnings

Based on 20 quarterly earnings reports · overlaid with Q4 2023

Historical avgQ4 2023

+0.6%

Avg return

Earnings day

-0.1%

Avg return

5 days after

+1.6%

Avg return

30 days after

53%

35 / 66 earnings

Positive

+15.9%

Q1 2010

Best reaction

-10.1%

Q3 2022

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q1 2026+1.1%-3.1%-0.7%
Q4 2025+0.0%+4.1%+0.5%
Q3 2025-6.3%-4.2%-1.8%
Q2 2025-0.2%-0.8%+6.4%
Q1 2025+1.0%-1.2%+1.4%
Q4 2024+3.0%+2.4%+1.6%
Q3 2024-7.6%-7.8%+9.5%
Q2 2024-0.7%-4.5%+5.8%
Q1 2024+4.0%+1.4%+3.5%
Q4 2023-0.6%-4.4%-5.9%
Q3 2023+1.9%+1.9%+12.7%
Q2 2023-0.7%+0.2%-6.2%
Q1 2023+4.4%+3.8%+1.6%
Q4 2022+4.4%+4.5%+11.0%
Q3 2022-10.1%-12.1%-5.6%
Q2 2022+1.8%+2.3%-0.8%
Q1 2022-2.4%-7.0%-16.1%
Q4 2021-2.3%-1.9%-2.2%
Q3 2021+1.9%+4.1%+0.5%
Q2 2021+3.2%+1.0%+4.6%
Q1 2021+2.9%+5.3%+4.1%
Q4 2020+4.2%+6.3%+15.9%
Q3 2020-3.8%-2.5%+22.5%
Q2 2020+6.6%+3.9%+8.0%
Q1 2020+4.4%+6.7%+1.8%
Q4 2019+1.5%+1.5%-14.4%
Q3 2019-2.2%-1.3%-1.2%
Q2 2019-5.4%-3.5%-8.6%
Q1 2019+0.6%+1.3%-2.2%
Q4 2018+5.8%+6.9%+7.5%
Q3 2018+8.2%+8.9%+12.4%
Q2 2018-1.4%-4.3%-0.3%
Q1 2018-4.0%-6.3%-3.7%
Q4 2017-4.7%-3.8%-8.7%
Q3 2017-2.6%-5.0%-6.5%
Q2 2017-2.7%-2.5%-8.1%
Q1 2017+1.5%+1.4%-2.3%
Q4 2016+8.2%+2.7%+4.1%
Q3 2016+1.2%+1.6%+21.4%
Q2 2016+0.0%-0.6%+3.4%
Q1 2016+5.3%
Q4 2015+7.5%
Q3 2015+0.0%
Q2 2015-0.2%
Q1 2015-3.1%
Q4 2014+7.0%
Q3 2014-2.9%
Q2 2014-4.6%
Q1 2014+2.9%
Q4 2013-3.7%
Q3 2013-0.6%
Q2 2013-0.8%
Q1 2013+5.6%
Q4 2012+4.6%
Q3 2012-2.8%
Q2 2012+3.5%
Q1 2011-2.2%
Q1 2012+3.4%
Q4 2010+0.0%
Q4 2011+0.0%
Q4 2009+0.0%
Q3 2011+0.6%
Q3 2010+0.6%
Q2 2011-6.4%
Q2 2010-6.4%
Q1 2010+15.9%

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