Central Pacific Financial (NYSE:CPF) Rating Lowered 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 note issued on Wednesday.

Central Pacific Financial Trading Down 1.4 %

Shares of NYSE CPF opened at $26.36 on Wednesday. Central Pacific Financial has a 1-year low of $18.35 and a 1-year high of $33.25. The business has a fifty day moving average price of $28.50 and a 200 day moving average price of $28.95. The stock has a market capitalization of $713.32 million, a P/E ratio of 13.38 and a beta of 1.17. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.85 and a quick ratio of 0.85.

Central Pacific Financial (NYSE:CPF) last released its quarterly earnings results on Wednesday, January 29th. The financial services provider reported $0.70 EPS for the quarter, beating the consensus estimate of $0.61 by $0.09. Central Pacific Financial had a net margin of 15.49% and a return on equity of 12.03%. Equities research analysts expect that Central Pacific Financial will post 2.75 EPS for the current fiscal year.

Institutional Trading of Central Pacific Financial

A number of institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. raised its stake in Central Pacific Financial by 1.0% in the fourth quarter. Vanguard Group Inc. now owns 2,124,330 shares of the financial services provider’s stock valued at $61,712,000 after buying an additional 20,196 shares during the last quarter. American Century Companies Inc. boosted its stake in Central Pacific Financial by 13.2% in the 4th quarter. American Century Companies Inc. now owns 659,482 shares of the financial services provider’s stock worth $19,158,000 after purchasing an additional 77,032 shares in the last quarter. Geode Capital Management LLC grew its position in Central Pacific Financial by 0.6% during the 4th quarter. Geode Capital Management LLC now owns 644,390 shares of the financial services provider’s stock worth $18,724,000 after purchasing an additional 4,021 shares during the last quarter. Renaissance Technologies LLC increased its stake in Central Pacific Financial by 11.6% during the 4th quarter. Renaissance Technologies LLC now owns 637,053 shares of the financial services provider’s stock valued at $18,506,000 after purchasing an additional 66,053 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its holdings in shares of Central Pacific Financial by 36.6% in the fourth quarter. JPMorgan Chase & Co. now owns 589,609 shares of the financial services provider’s stock worth $17,128,000 after buying an additional 158,111 shares during 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.