Central Pacific Financial (NYSE:CPF) Rating Lowered to “Sell” at StockNews.com

Central Pacific Financial (NYSE:CPF) was downgraded by equities researchers at StockNews.com from a “hold” rating to a “sell” rating in a report issued on Friday.

Central Pacific Financial Trading Up 0.6 %

Shares of CPF stock traded up $0.15 during trading hours on Friday, hitting $27.09. 172,314 shares of the company’s stock traded hands, compared to its average volume of 191,713. The stock has a market cap of $733.06 million, a PE ratio of 12.90 and a beta of 1.13. The stock’s 50 day simple moving average is $28.13 and its 200 day simple moving average is $24.11. The company has a quick ratio of 0.86, a current ratio of 0.85 and a debt-to-equity ratio of 0.35. Central Pacific Financial has a 12 month low of $16.27 and a 12 month high of $30.30.

Central Pacific Financial (NYSE:CPF) last announced its earnings results on Wednesday, October 30th. The financial services provider reported $0.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.56 by $0.02. Central Pacific Financial had a return on equity of 11.44% and a net margin of 16.10%. The business had revenue of $66.59 million during the quarter, compared to analyst estimates of $65.22 million. On average, sell-side analysts anticipate that Central Pacific Financial will post 2.2 EPS for the current year.

Hedge Funds Weigh In On Central Pacific Financial

Hedge funds have recently bought and sold shares of the company. Panagora Asset Management Inc. grew its stake in Central Pacific Financial by 0.6% during the second quarter. Panagora Asset Management Inc. now owns 152,349 shares of the financial services provider’s stock worth $3,230,000 after purchasing an additional 949 shares during the period. Price T Rowe Associates Inc. MD grew its position in shares of Central Pacific Financial by 4.2% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 25,507 shares of the financial services provider’s stock worth $504,000 after buying an additional 1,020 shares during the period. CWM LLC increased its stake in shares of Central Pacific Financial by 221.9% in the 2nd quarter. CWM LLC now owns 1,957 shares of the financial services provider’s stock valued at $41,000 after acquiring an additional 1,349 shares in the last quarter. nVerses Capital LLC acquired a new position in shares of Central Pacific Financial during the 3rd quarter valued at $50,000. Finally, Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Central Pacific Financial by 12.0% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 16,490 shares of the financial services provider’s stock valued at $458,000 after acquiring an additional 1,769 shares during the period. Institutional investors own 88.42% of the company’s stock.

Central Pacific Financial Company Profile

Central Pacific Financial Corp. operates as the bank holding company for Central Pacific Bank that provides a range of commercial banking products and services to businesses, professionals, and individuals in the United States. It offers various deposit products and services, including checking, savings and time deposits, cash management and digital banking, trust, and retail brokerage services, as well as money market accounts and certificates of deposit.