Financial Corporation (ABC) has announced its first-quarter financial results, highlighting a significant improvement in its asset quality. The company reported net charge-offs of $2.6 million, down from $4.5 million in the same period last year. However, credit losses have slightly increased to $4.2 million, compared to $3.9 million previously.
In light of these results, the company noted ongoing favorable trends in its financial performance. Strategic efforts in optimizing the balance sheet and focusing on customer needs have resulted in a meaningful increase in both net interest income and net interest margin. The asset quality improvement is underscored by the reduction in net charge-offs and maintaining low levels of non-performing assets.
Arnold Martines, the Chairman, President, and CEO of Financial Corporation, emphasized the company's robust capital and liquidity positions. He expressed confidence in the firm's ability to navigate the current market conditions effectively, supported by these strong financial metrics.
Wall Street Analysts Forecast
Based on the one-year price targets offered by 1 analysts, the average target price for Central Pacific Financial Corp (CPF, Financial) is $32.00 with a high estimate of $32.00 and a low estimate of $32.00. The average target implies an upside of 22.46% from the current price of $26.13. More detailed estimate data can be found on the Central Pacific Financial Corp (CPF) Forecast page.
Based on the consensus recommendation from 2 brokerage firms, Central Pacific Financial Corp's (CPF, Financial) average brokerage recommendation is currently 2.5, indicating "Outperform" status. The rating scale ranges from 1 to 5, where 1 signifies Strong Buy, and 5 denotes Sell.
Based on GuruFocus estimates, the estimated GF Value for Central Pacific Financial Corp (CPF, Financial) in one year is $20.23, suggesting a downside of 22.58% from the current price of $26.13. GF Value is GuruFocus' estimate of the fair value that the stock should be traded at. It is calculated based on the historical multiples the stock has traded at previously, as well as past business growth and the future estimates of the business' performance. More detailed data can be found on the Central Pacific Financial Corp (CPF) Summary page.
