Central Pacific Financial Corp.

AI-generated fair value estimate for this company.

Method: Bank excess-return (justified price-to-book) model: ROE of 14.34% ($83.0M net income / $578.6M equity, i.e. 25.75M shares x $22.47 book value per share), 10% cost of equity, 5% sustainable growth; justified P/B = (ROE-g)/(r-g) = 1.868x applied to $22.47 book value per share.

Reasoning: Bank earnings are levered off a regulated capital base, so a justified price-to-book / excess-return framework (standard for financial institutions) is more accurate than an unlevered FCF DCF, which doesn't map cleanly to a bank's balance sheet.