Central Pacific Financial (CPF) Surges 6.2%: Is This an Indication of Further Gains?

Group 1: Stock Performance - Central Pacific Financial (CPF) shares increased by 6.2% to close at $29.51, with notable trading volume [1] - CPF reached a new 52-week high of $29.55, driven by optimistic investor sentiment following a 50 basis points interest rate cut by the Federal Reserve [2] Group 2: Earnings Expectations - CPF is expected to report quarterly earnings of $0.56 per share, reflecting a year-over-year increase of 14.3%, with revenues projected at $65.22 million, up 5.2% from the previous year [3] - The consensus EPS estimate for CPF has remained unchanged over the last 30 days, indicating that stock price movements may not continue without trends in earnings estimate revisions [4] Group 3: Industry Context - CPF is part of the Zacks Banks - West industry, where Plumas Bancorp (PLBC) has a Zacks Rank of 3 (Hold) and reported a 14.9% decline in its EPS estimate year-over-year [4][5]