Central Pacific Financial (NYSE:CPF) Lowered to Sell Rating by StockNews.com

Central Pacific Financial (NYSE:CPF) was downgraded by investment analysts at StockNews.com from a “hold” rating to a “sell” rating in a note issued to investors on Friday.

Central Pacific Financial Stock Performance

CPF traded up $0.15 on Friday, reaching $27.09. The company had a trading volume of 172,314 shares, compared to its average volume of 191,713. The stock has a market cap of $733.06 million, a P/E ratio of 12.90 and a beta of 1.13. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.86 and a current ratio of 0.85. Central Pacific Financial has a fifty-two week low of $16.27 and a fifty-two week high of $30.30. The company’s fifty day moving average is $28.13 and its 200 day moving average is $24.11.

Central Pacific Financial (NYSE:CPF) last released its quarterly earnings results on Wednesday, October 30th. The financial services provider reported $0.58 earnings per share 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 analysts’ expectations of $65.22 million. As a group, analysts predict that Central Pacific Financial will post 2.2 earnings per share for the current fiscal year.

Institutional Trading of Central Pacific Financial

Several large investors have recently modified their holdings of CPF. CWM LLC boosted 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 purchasing an additional 1,349 shares in the last quarter. Allspring Global Investments Holdings LLC grew its position in Central Pacific Financial by 660.9% in the first quarter. Allspring Global Investments Holdings LLC now owns 2,488 shares of the financial services provider’s stock valued at $49,000 after acquiring an additional 2,161 shares during the last quarter. nVerses Capital LLC bought a new position in Central Pacific Financial in the third quarter valued at about $50,000. USA Financial Formulas acquired a new position in Central Pacific Financial during the third quarter worth about $81,000. Finally, Central Pacific Bank Trust Division bought a new position in shares of Central Pacific Financial in the first quarter worth about $134,000. 88.42% of the stock is 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.