Here's What Key Metrics Tell Us About Central Pacific Financial (CPF) Q3 Earnings

Core Insights - Central Pacific Financial (CPF) reported revenue of $66.59 million for the quarter ended September 2024, reflecting a year-over-year increase of 7.4% and a surprise of +2.09% over the Zacks Consensus Estimate of $65.22 million [1] - Earnings per share (EPS) for the quarter was $0.58, compared to $0.49 in the same quarter last year, resulting in an EPS surprise of +3.57% against the consensus estimate of $0.56 [1] Financial Performance Metrics - Efficiency Ratio was reported at 70.1%, higher than the estimated 63.5% by analysts [3] - Net Interest Margin stood at 3.1%, slightly above the average estimate of 3% [3] - Average Balance of Total Interest Earning Assets was $7.02 billion, marginally exceeding the estimate of $7.01 billion [3] - Total Nonaccrual Loans amounted to $11.60 million, surpassing the estimate of $10.61 million [3] - Total Nonperforming Assets were reported at $11.60 million, slightly below the estimated $11.91 million [3] - Net Charge-offs to Average Loans remained at 0.3%, matching the analyst estimate [3] - Net Interest Income (FTE) was $54 million, exceeding the estimate of $53.34 million [3] - Total Noninterest Income/Total Other Operating Income reached $12.73 million, above the estimate of $12.07 million [3] - Net Interest Income was reported at $53.85 million, higher than the average estimate of $53.16 million [3] Stock Performance - Shares of Central Pacific Financial have returned +3.9% over the past month, outperforming the Zacks S&P 500 composite's +1.8% change [4] - The stock currently holds a Zacks Rank 4 (Sell), indicating potential underperformance relative to the broader market in the near term [4]