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

Central Pacific Financial (NYSE:CPF) was downgraded by stock analysts at StockNews.com from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Tuesday.

Central Pacific Financial Stock Down 1.9 %

Shares of CPF stock opened at $30.92 on Tuesday. Central Pacific Financial has a fifty-two week low of $18.00 and a fifty-two week high of $33.25. The firm has a market capitalization of $837.00 million, a PE ratio of 14.72 and a beta of 1.18. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.85 and a current ratio of 0.85. The stock’s 50-day simple moving average is $29.86 and its 200-day simple moving average is $26.16.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. CWM LLC lifted its holdings 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 buying an additional 1,349 shares during the period. nVerses Capital LLC purchased a new position in Central Pacific Financial during the third quarter valued at approximately $50,000. Quarry LP acquired a new position in Central Pacific Financial in the third quarter valued at approximately $53,000. USA Financial Formulas purchased a new stake in Central Pacific Financial in the 3rd quarter worth approximately $81,000. Finally, SG Americas Securities LLC acquired a new stake in shares of Central Pacific Financial during the 3rd quarter worth approximately $183,000. 88.42% of the stock is currently owned by institutional investors and hedge funds.

About Central Pacific Financial

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.