StockNews.com Downgrades Central Pacific Financial (NYSE:CPF) to Sell

StockNews.com lowered shares of Central Pacific Financial (NYSE:CPF) from a hold rating to a sell rating in a report issued on Tuesday.

Central Pacific Financial Stock Performance

Shares of NYSE:CPF opened at $28.43 on Tuesday. Central Pacific Financial has a 12-month low of $18.00 and a 12-month high of $33.25. The company’s 50 day moving average price is $29.52 and its two-hundred day moving average price is $28.19. The firm has a market cap of $769.46 million, a PE ratio of 13.54 and a beta of 1.19. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.29.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of CPF. nVerses Capital LLC acquired a new stake in shares of Central Pacific Financial during the third quarter valued at about $50,000. Quarry LP bought a new position in Central Pacific Financial in the 3rd quarter valued at approximately $53,000. USA Financial Formulas bought a new stake in Central Pacific Financial during the 3rd quarter worth approximately $81,000. CWM LLC increased its position in Central Pacific Financial by 77.7% in the 3rd quarter. CWM LLC now owns 3,477 shares of the financial services provider’s stock valued at $103,000 after acquiring an additional 1,520 shares during the period. Finally, SG Americas Securities LLC bought a new position in shares of Central Pacific Financial during the third quarter valued at $183,000. 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.