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Central Pacific Financial Notches Gain on $125 Million Share Buyback

  +Follow February 21, 2014 8:54AM
Tickers Mentioned:

The Honolulu-based bank Central Pacific Financial (CPF) ended the week with a solid gain after announcing a major share buyback program designed to increase shareholder value. The company’s stock had had a rough month leading up to the announcement, making the buyback that much moiré welcome.

The shares will be repurchased in a rolling Dutch auction. CPF President explained that this method, which values shares between $18 and $21, offers “an efficient way to sell all or some of their shares without the potential disruption in share price from market sales."

A rolling Dutch auction will allow shareholders some flexibility in selling. The method allows shareholders to indicate how many shares and at what price, or prices, they wish to tender their shares of the company.

Investors in Central Pacific have been on quite a ride over the last several years. While most all financial institutions were hit hard during the global recession, Central Pacific’s woes were especially pronounced. The company’s shares topped $787 apiece at the beginning of 2007 before tanking spectacularly.

The government was forced to bail out Central Pacific in January 2009 to keep them from going insolvent. After Central Pacific briefly recovery following the bailout, shares once again tumbled, and have since languished in the $10 to $20 range.

In 2012 it was announced that the US Treasury had provided $135 million in TARP funds, and was only able to recover $74 million, thus posting a $61 million in losses. Since then, Central Pacific has made strides to once again become profitable and return value to stockholders.

The buyback includes $68.8 million worth of shares from private investors, and $52.2 million from its two largest shareholders, Carlyle Financial Services Harbor L.P. and ACMO-CPF, LLC.

Central Pacific operates 35 branches throuhgout Hawaii. On Feb.  21 shares of Central Pacific climbed 6.29 percent to hit $19.76 a share.

operates 35 branches and 112 ATMs in the state of Hawaii, - See more at: http://www.noodls.com/view/26AA417C20872662BF2481AEAFAF0B5D5211F5D9#sthash.Zu65J9cP.dpufOn Feb. 21 shares of Central Pacific climbed 6.29 percent to hit $19.76 a share.

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Results for CPF
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25 Apr 15 03:42:29
@rosnerstocks: $DHR Change Click Here: http://t.co/a19ztKbzew Also See: $PTSI $CPF $IGTE $MSB #stockmarket #invest #stocks ~
25 Apr 15 03:33:53
Stocks Trending Now: http://t.co/3L8CEGgR78 $LBTYA $SYA $MKSI $GURE $NTT $SNAK $SNA $CGNX $DXM $MSFT $HD $CPF ~
Rosner Stocks
25 Apr 15 03:28:31
$DHR Change Click Here: http://t.co/kdNZW179mL Also See: $PTSI $CPF $IGTE $MSB #stockmarket #invest #stocks ~
Langan Stocks
25 Apr 15 02:00:10
Stocks Trending Now: http://t.co/TkLSaybzCt $PE $CPF $KRFT $IGTE $NOW $BLUE $PMD $CAKE $IX $PDCE $BAC $IVC ~
25 Apr 15 01:26:03
interested in $SLIO Click Here: http://t.co/3IwLTSIJNy Also See: $CPF $PBF $LJPC $BP ~
24 Apr 15 23:58:43
Stocks Trending Now: http://t.co/3L8CEFZgfA $PTCT $HOV $LO $CPAC $SZYM $CPF $TCP $WBAI $ITCI $AKRX $ATML $CIG ~
IH News Desk
24 Apr 15 23:43:25
Stocks Trending Now: http://t.co/Ly6bZh9FE6 $ONTX $KCG $AIXG $CPF $ELS $EXXI $CATY $F $MTG $FFIV $HD $KELYA ~
Chasing Stars
24 Apr 15 22:39:13
$GRAM Open Click Here: http://t.co/YHxAKGvPA8 Also See: $BIDU $CPF $FBIZ $PBR.A #stockmarket #invest #stocks ~
Langan Stocks
24 Apr 15 20:47:02
Stocks Trending Now: http://t.co/TkLSaytau1 $BIIB $CPAC $BBNK $ATML $NTWK $SLG $CVEO $CPF $AF $HRTG $ALLE $TEL ~
24 Apr 15 19:39:32
Stocks Trending Now: http://t.co/prRAmko7Sg $FBIZ $RIGL $IR $VA $REXX $WUBA $MRVL $LHO $WLL $CPF $PCLN $AMRN ~
24 Apr 15 19:01:44
Stocks Trending Now: http://t.co/3L8CEFZgfA $CNAT $MTOR $CPF $ARTW $GNMK $TOL $RDI $PE $WGP $GEVO $CAH $NOK ~
24 Apr 15 18:13:58
Stocks Trending Now: http://t.co/3L8CEGgR78 $ASR $CPF $EVTC $TBI $ECT $CFNL $CCRN $AMAT $MS $CAMP $ALLE $CNV ~
24 Apr 15 17:56:49
interested in $EMES Click Here: http://t.co/uzAyzBO9Di Also See: $ARTW $ANY $WBC $CPF ~
24 Apr 15 15:00:29
Stocks Trending Now: http://t.co/3o3t4shuZs $MDP $VASC $CPF $TARO $POOL $AERI $AUY $APTS $ANTM $AI $HYGS $KT ~
24 Apr 15 14:35:27
#1 site for investors! $MSA Click Here: http://t.co/nmJAllw6IZ Also See: $VA $CPF $LO $GPRE ~
Investors Hangout
24 Apr 15 11:13:38
$INFY News Click Here: http://t.co/YPmnHivPVN Also See: $CPF $CBMG $RVP $QCOM ~
24 Apr 15 10:38:46
$ALQA Short Sales Click Here: http://t.co/StzBfefoPa Also See: $PG $MDRX $HALO $CPF ~
Investors Hangout
24 Apr 15 08:55:57
$CALA Shares Click Here: http://t.co/bySRmrnCx0 Also See: $CRM $IMPR $CPF $ARW ~
Rosner Stocks
24 Apr 15 06:47:33
$SZMK Current Price Click Here: http://t.co/aq6Ho60sOq Also See: $APTS $CPF $ZBRA $RTN ~
Sleek Money
24 Apr 15 05:50:23
Central Pacific Financial Corp. $CPF Issues Earnings Results http://t.co/mGvoLlY14E
The Legacy News
24 Apr 15 05:12:28
Central Pacific Financial Corp. $CPF Announces Quarterly Dividend of $0.12 http://t.co/R65Gp4FnrW
24 Apr 15 03:46:55
$CHU Ideas Click Here: http://t.co/k68F3PHIAI Also See: $BRK.B $IVC $CPF $DOV ~
Stock Forums
24 Apr 15 03:27:09
$ATRA % Change Click Here: http://t.co/V7jFXIn8VR Also See: $NTCT $QCOM $HLSS $CPF ~
24 Apr 15 03:21:37
$TBEV Yield Click Here: http://t.co/fOVVAaCBck Also See: $CPF $HRC $NOG $QUIK ~
23 Apr 15 23:32:33
$ERB Exchange Click Here: http://t.co/Pmbl4dC2dA Also See: $CPF $VLTC $ANDE $EEFT ~
23 Apr 15 23:01:13
$CPF News Click Here: http://t.co/jWy7zpsSjY Also See: $UNH $UAPC $CYRN $WAL ~
23 Apr 15 22:52:18
$CPF Ex-Div Date Click Here: http://t.co/g3H9AKfd9Q Also See: $PM $UMC $GG $ANIP ~
Chasing Stars
23 Apr 15 21:54:53
$CPF Ex-Div Date Click Here: http://t.co/6RR1ynHkF4 Also See: $NS $STRM $EJ $STE ~
Sleek Money
23 Apr 15 15:05:44
Central Pacific Financial Corp. Plans Quarterly Dividend of $0.12 $CPF http://t.co/8WDCkYOUyx
Ticker Report
23 Apr 15 14:56:05
Central Pacific Financial Corp. Plans Quarterly Dividend of $0.12 $CPF http://t.co/1LSNwaM58j
Breaking News Now
23 Apr 15 14:04:25
$CPF: New SEC Filing for CPF: Form 8-K (No. 0001104659-15-029758): http://t.co/QjxUgQUYbu
SEC Filings
23 Apr 15 14:04:19
NEW SEC Filing for $CPF filed a moment ago: http://t.co/BIHIpsPsZh http://t.co/vuToyOzvMb
23 Apr 15 12:48:42
@TrembFredrick $CPF just reported earnings for Q1 2015 – http://t.co/HqWk0T8BBE
23 Apr 15 10:28:50
Buyback continues as profits rise at CPB. By Dave Segal (@StarAdvertiser sub.req) http://t.co/cKMdzxUFdC $CPF
Erika Engle
23 Apr 15 10:28:50
Buyback continues as profits rise at CPB. By Dave Segal (@StarAdvertiser sub.req) http://t.co/HZwA6szPTO $CPF
Breaking News Now
23 Apr 15 10:12:04
$CPF: Central Pacific Financial Corp. (CPF) Issues Earnings Results: http://t.co/KKMTija2gd
23 Apr 15 10:07:45
Central Pacific Financial Corp. $CPF Issues Earnings Results http://t.co/ex7Nc8RrWw
23 Apr 15 09:20:40
$CPF Earnings result is already out. Check out historical price reaction after ER. http://t.co/zAsedRNCrY
23 Apr 15 05:46:24
Central Pacific Financial beats by $0.02 $CPF #NYSE #DOW http://t.co/QIavySOJdF
US Banking News
23 Apr 15 05:33:29
Central Pacific Financial Corp. announces quarterly dividend of $0.12. Payable on 6/15/2015. 2.04% Yield. http://t.co/LuRtZYFivS $CPF #CPF
Media Sentiment
23 Apr 15 05:10:57
$CPF received a new alert. Find out why at http://t.co/nZwqReM0tj #stocks #daytrading #trading #mkt #NYSE #NASDAQ #markets 197
23 Apr 15 05:09:29
$CPF Central Pacific Financial Corp. Press Release: Central Pacific Financial Corp. Reports $10.4 Million Fir From our Stock News Alerts App
Financial Stocks
23 Apr 15 05:08:05
Central Pacific Financial beats by $0.02 http://t.co/0emAELlUam #premarket $CPF
SA Breaking News
23 Apr 15 05:08:04
Central Pacific Financial beats by $0.02 http://t.co/yRP4HGV5hq #premarket $CPF
Breaking News
23 Apr 15 05:06:21
$CPF Central Pacific Financial Corp. Reports $10.4 Million First Quarter Earnings http://t.co/IDFjqPjQ1A
23 Apr 15 02:10:51
$CPF Earnings out BMO EPS Estimate 0.27
23 Apr 15 02:08:55
$CPF Earnings out BMO EPS Estimate 0.27 Other Earnings this week http://t.co/gVRsyZd0te
22 Apr 15 08:03:16
$CPF Central Pacific Financial Corp. Event Reminder: Annual Shareholder Meeting From our Stock News Alerts App
22 Apr 15 06:57:08
$CPF: Central Pacific Financial Corp. (CPF) Scheduled to Post Quarterly ...: http://t.co/JxKvgYdfNX
Analyst Ratings
22 Apr 15 06:48:08
Get the latest ratings for $AYR $UEPS $EMKR $CPF $NLSN in your inbox with ARN Daily http://t.co/nSJuDsYidj
  +Follow February 21, 2014 8:54AM



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