Central Pacific Financial (NYSE:CPF) Raised to Hold at StockNews.com

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

Central Pacific Financial Stock Performance

Shares of Central Pacific Financial stock opened at $31.04 on Tuesday. The stock has a market cap of $840.25 million, a PE ratio of 14.78 and a beta of 1.14. The business has a fifty day simple moving average of $28.49 and a 200-day simple moving average of $24.78. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.29. Central Pacific Financial has a 12 month low of $16.95 and a 12 month high of $32.21.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the company. FMR LLC grew its stake in Central Pacific Financial by 24.4% in the third quarter. FMR LLC now owns 295,359 shares of the financial services provider’s stock valued at $8,716,000 after purchasing an additional 58,009 shares in the last quarter. Algert Global LLC lifted its position in shares of Central Pacific Financial by 1.4% during the 3rd quarter. Algert Global LLC now owns 41,936 shares of the financial services provider’s stock worth $1,238,000 after purchasing an additional 570 shares during the last quarter. Quest Partners LLC lifted its position in shares of Central Pacific Financial by 144.4% during the 3rd quarter. Quest Partners LLC now owns 32,083 shares of the financial services provider’s stock worth $947,000 after purchasing an additional 18,955 shares during the last quarter. Empowered Funds LLC lifted its position in shares of Central Pacific Financial by 5.2% during the 3rd quarter. Empowered Funds LLC now owns 86,251 shares of the financial services provider’s stock worth $2,545,000 after purchasing an additional 4,288 shares during the last quarter. 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 worth $458,000 after purchasing an additional 1,769 shares during the last quarter. Hedge funds and other institutional investors 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.