logo
Sign in or Register

Already a member?

Sign in

Or sign in with your account on:

Not a member yet?

Register
    

 


Central Pacific Financial Notches Gain on $125 Million Share Buyback

  +Follow February 21, 2014 8:54AM
Share:
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.

DISCLOSURE: The views and opinions expressed in this article are those of the authors, and do not represent the views of equities.com. Readers should not consider statements made by the author as formal recommendations and should consult their financial advisor before making any investment decisions. To read our full disclosure, please go to: http://www.equities.com/disclaimer


Liked What You Read? Join Equities.com and Connect With Your Favorite Financial Experts FOR FREE! Members of Equities.com gain access to our leading financial news and content, active social investment community, proprietary research tools including the 2014 Small-Cap Stars, E.V.A. reports and more.

Results for CPF
Penny Stock Secret
27 Jul 15 22:45:19
$71,000 in ONE TRADE!! By Follwing Their Signals More Info Here http://t.co/SVqoMkrw2z .. $CPE-A $CPF $CPG
$Stocknewsalerts
27 Jul 15 13:42:12
$CPF Central Pacific Financial Corp. Document: 8-K From our Stock News Alerts App
$Stocknewsalerts
27 Jul 15 13:36:55
$CPF Central Pacific Financial Corp. Document: 8-K From our Stock News Alerts App
New SEC Filings
27 Jul 15 13:35:20
NEW SEC Filing for $CPF filed a moment ago: http://t.co/WHGzuTCcui http://t.co/66BF3gWYuD
Zonebourse News
26 Jul 15 01:00:29
#CENTRAL PACIFIC FINANCIAL CORP. : Détachement de dividende http://t.co/2tsqz5be8B $CPF
Zonebourse News
25 Jul 15 22:47:59
#CENTRAL PACIFIC FINANCIAL CORP. : Keefe, Bruyette, & Woods Community Bank Inv... http://t.co/LCwNVQP2Sv $CPF
$Stocknewsalerts
25 Jul 15 21:05:25
$CPF Central Pacific Financial Corp. Event Reminder: KBW's Community Bank Investor Conference From our Stock News Alerts App
WKRB News
25 Jul 15 05:22:37
Central Pacific Financial Corp. Plans $0.12 Quarterly Dividend $CPF http://t.co/6srGsCa33L
Sleek Money
25 Jul 15 04:20:46
Central Pacific Financial Corp. $CPF Posts Earnings Results, Beats Expectations By $0.08 EPS http://t.co/4JyeqVKZ0G
TimeForGrowth
25 Jul 15 03:25:02
$CPF: Wall Street analysts bullish on CPF's earnings growth: http://t.co/hTQr8UFFzZ http://t.co/jSyrKZtamU
Ticker Report
24 Jul 15 16:57:03
Central Pacific Financial Corp. to Issue Quarterly Dividend of $0.12 $CPF http://t.co/POylmqBu0y
Dakota Financial
24 Jul 15 16:55:02
Central Pacific Financial Corp. to Issue Quarterly Dividend of $0.12 $CPF http://t.co/waudxCtHFf
Breaking News
24 Jul 15 16:54:03
$CPF: Central Pacific Financial Corp. to Issue Quarterly Dividend of $0.12 ...: http://t.co/Ea63qbQb1z
Bret Jensen
24 Jul 15 16:41:30
RT @SmCapStrategist: Small-cap stocks with declining money flow, Fri July 24th - $BGS $CPF $NYLD $SFLY $CPK $OIBR $DKL - More: http://t.co/…
Small Cap Strategist
24 Jul 15 16:37:56
Small-cap stocks with declining money flow, Fri July 24th - $BGS $CPF $NYLD $SFLY $CPK $OIBR $DKL - More: http://t.co/1znvSOIJVT - #smallcap
Tone Glitch
24 Jul 15 15:09:51
RT @Estimize: $CPF beats the Estimize EPS Consensus by 9c and misses the Estimize Revenue Consensus by $1.73M - http://t.co/WzzR1oS7lE
Dakota Financial
24 Jul 15 08:23:53
Newly Announced Dividends for July, 24th $CPF, ECA, FLIR, FNFG, MCO, NE, PEBO, POM, SPG, STON http://t.co/kVnB0en0hk
StockEarnings.com
24 Jul 15 07:50:38
$CPF Earnings result is already out. Check out historical price reaction after ER. http://t.co/wHLLs0nYhv
Consumer News
24 Jul 15 06:28:34
Central Pacific Financial Corp. announces quarterly dividend of $0.12. Payable on 9/15/2015. 2.05% Yield. http://t.co/8k5HDkjGaL $CPF #…
Social Alpha Inc
24 Jul 15 06:27:52
Stocks buzzing on social media: $WTBA $PFMT $SFG $CPF $PEBO $NS $PTH Trade on market sentiment @ http://t.co/JXotpHpS8Z #trading #stocks
Stock Trade Alerts
24 Jul 15 06:14:34
RT @Estimize: $CPF beats the Estimize EPS Consensus by 9c and misses the Estimize Revenue Consensus by $1.73M - http://t.co/WzzR1oS7lE
Stock Trade Alerts
24 Jul 15 06:14:33
RT @Estimize: $CPF reports FQ2 earnings of 39c EPS and $45.42M Revs - http://t.co/Kc7lIxKvmd
Estimize
24 Jul 15 05:52:24
@TrembFredrick Your estimate for $CPF Q2 2015 has been scored – http://t.co/6tPOprwzk6
Estimize
24 Jul 15 05:52:15
$CPF beats the Estimize EPS Consensus by 9c and misses the Estimize Revenue Consensus by $1.73M - http://t.co/WzzR1oS7lE
Estimize
24 Jul 15 05:52:13
$CPF reports FQ2 earnings of 39c EPS and $45.42M Revs - http://t.co/Kc7lIxKvmd
Briefing.com
24 Jul 15 05:21:38
$CPF: Central Pacific Financial beats by $0.08, misses on revs http://t.co/Sajt75a523
$Stocknewsalerts
24 Jul 15 05:12:05
$CPF Central Pacific Financial Corp. Press Release: Central Pacific Financial Corp. Reports $12.3 Million Sec From our Stock News Alerts App
Ticker Report
24 Jul 15 04:57:02
Central Pacific Financial Corp. $CPF Issues Earnings Results http://t.co/uOogpYTBXi
Dakota Financial
24 Jul 15 04:54:20
Central Pacific Financial Corp. $CPF Issues Earnings Results http://t.co/x5ksUMxq2b
Capital Market Labs
24 Jul 15 04:50:38
Website -> http://t.co/tcwvko0vKA $CPF Reports Friday, Consensus Est. Rev: $47.8M, EPS: $0.32 http://t.co/ADqwoMxdxw
Media Sentiment
24 Jul 15 04:42:31
$CPF received a new alert. Find out why at http://t.co/nZwqReM0tj #stocks #daytrading #trading #mkt #NYSE #NASDAQ #markets 97
Financial Stocks
24 Jul 15 04:41:10
Central Pacific Financial beats by $0.08, beats on net interest income http://t.co/mIkvlfWjZ5 #premarket $CPF
Breaking News
24 Jul 15 04:41:09
Central Pacific Financial beats by $0.08, beats on net interest income http://t.co/VzuubWwKzR #premarket $CPF
US Banking News
24 Jul 15 04:03:38
Central Pacific Financial Corp. announces earnings. $0.39 EPS. Beats estimates. http://t.co/FUkAgkU7Cr $CPF #CPF
Consumer News
24 Jul 15 03:59:33
Central Pacific Financial Corp. announces earnings. $0.39 EPS. Beats estimates. http://t.co/7f4fA4wPL6 $CPF #CPF
$Stocknewsalerts
24 Jul 15 03:05:29
$CPF Central Pacific Financial Corp. Document: 8-K From our Stock News Alerts App
ProVesting
24 Jul 15 03:05:03
$CPF: New SEC Filing for CPF: Form 8-K (No. 0000701347-15-000020): http://t.co/hrmn9Jzxpz
New SEC Filings
24 Jul 15 03:04:23
NEW SEC Filing for $CPF filed a moment ago: http://t.co/1gtfcDkJbU http://t.co/5WHD8Kl3gE
Capital Market Labs
23 Jul 15 14:36:46
Website -> http://t.co/tcwvko0vKA $CPF Reports Friday, Consensus Est. Rev: $47.8M, EPS: $0.32 http://t.co/LPa4GidMwk
Xignite Earnings
23 Jul 15 14:01:21
Central Pacific Financial Corp. $CPF [Cap $753M] Q2 #earnings tomorrow before open [#eps consensus=0.32][4wk chg vs mkt: 97%] @xignite
InvestiecompEarnings
23 Jul 15 12:21:18
$CPF is reporting tomorrow BMO, and is a potential signal for today @investiecomp. EPS est $0.31 Rev est $37.3M
Frederick Tremblay
23 Jul 15 08:49:03
Published $CPF estimate on Estimize: Our Quant models forecast a 2,56% surprise on eps and a -0,29%... http://t.co/IvOOsoMCpf
TimeForGrowth
23 Jul 15 06:24:03
$CPF: Wall Street analysts bullish on CPF's earnings growth: http://t.co/hTQr8UFFzZ http://t.co/g28jQUhjoy
Dakota Financial
22 Jul 15 22:55:00
Central Pacific Financial Corp. $CPF Scheduled to Post Earnings on Friday http://t.co/GwcdB1Ui6P
ProTradersNews
22 Jul 15 22:48:03
$CPF: Central Pacific Financial Corp. (CPF) Scheduled to Post Earnings on ...: http://t.co/IvYqUTDO3k
US Banking News
22 Jul 15 22:10:26
Central Pacific Financial Corp. to release Q215 earnings on Friday. Analysts expect 0.31 EPS. $CPF http://t.co/Hr1PqA3iyu
StockEarnings.com
22 Jul 15 21:50:20
$CPF releasing Earnings on 7/24 Before Open (Confirmed). Anybody buying/selling in Earnings? http://t.co/LUUCUv2KgT
Ticker Report
22 Jul 15 11:11:52
Central Pacific Financial Corp. $CPF Set to Announce Quarterly Earnings on Friday http://t.co/O4IxFJOIAv
Sleek Money
22 Jul 15 11:05:57
Central Pacific Financial Corp. $CPF Set to Announce Quarterly Earnings on Friday http://t.co/tVIyu36IHU
$Stocknewsalerts
22 Jul 15 04:04:22
$CPF Central Pacific Financial Corp. Event Reminder: Q2 Earnings Conference Call From our Stock News Alerts App
				
				
  +Follow February 21, 2014 8:54AM
Share:

Comments

 

blog comments powered by Disqus

 Today's Must Reads

5 Small-Cap Energy with Hedges to Survive Oil's Bear Market


DraftKings and FanDuel: The New Face of Legalized Online Sports Betting

Is the Market Paying the Toll of Tech?

What Will Uber Look Like in the Future?


How Dodd-Frank Divides Political Parties Prior to 2016 Election

 

Apple (AAPL) is expected to announce its latest quarterly earnings next week. As the most valuable company by mark... in Equities.com's Hangs on LockerDome

About us

Equities.com is an advanced financial data portal and social network designed to connect self-directed investors with the world’s most innovative startup and small cap companies. Through our in-depth coverage of small cap markets, comprehensive research and stock valuation reports, state of the art issuer products, and world class events, Equities.com provides the social tools and insight that drive tomorrow’s investment relationships and opportunities.

Market Data powered by QuoteMedia.
Copyright © QuoteMedia. Data delayed 15 minutes unless otherwise indicated. Terms of Use.

Login or Register

LOG IN