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 research report issued on Tuesday.

Central Pacific Financial Trading Down 1.8 %

Shares of CPF stock opened at $28.04 on Tuesday. The firm has a market capitalization of $759.15 million, a P/E ratio of 13.35 and a beta of 1.19. Central Pacific Financial has a 1 year low of $18.00 and a 1 year high of $33.25. The firm’s fifty day simple moving average is $29.47 and its 200 day simple moving average is $28.19. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.29.

Central Pacific Financial (NYSE:CPF) last posted its quarterly earnings data on Wednesday, January 29th. The financial services provider reported $0.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.61 by $0.09. Central Pacific Financial had a net margin of 16.10% and a return on equity of 11.44%. As a group, sell-side analysts predict that Central Pacific Financial will post 2.29 EPS for the current year.

Institutional Trading of Central Pacific Financial

Several institutional investors have recently modified their holdings of the company. Empowered Funds LLC increased its stake in Central Pacific Financial by 5.0% in the fourth quarter. Empowered Funds LLC now owns 90,584 shares of the financial services provider’s stock valued at $2,631,000 after acquiring an additional 4,333 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Central Pacific Financial by 18.8% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 19,588 shares of the financial services provider’s stock valued at $564,000 after purchasing an additional 3,098 shares during the period. EMC Capital Management raised its holdings in shares of Central Pacific Financial by 92.2% in the 4th quarter. EMC Capital Management now owns 11,559 shares of the financial services provider’s stock worth $336,000 after buying an additional 5,544 shares in the last quarter. SG Americas Securities LLC lifted its position in shares of Central Pacific Financial by 7.2% during the 4th quarter. SG Americas Securities LLC now owns 6,643 shares of the financial services provider’s stock worth $193,000 after buying an additional 448 shares during the period. Finally, Diversified Trust Co boosted its stake in Central Pacific Financial by 9.8% in the 4th quarter. Diversified Trust Co now owns 8,787 shares of the financial services provider’s stock valued at $255,000 after buying an additional 783 shares in the last quarter. Institutional investors and hedge funds own 88.42% of the company’s stock.

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.