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 report released on Wednesday.

Central Pacific Financial Stock Performance

Shares of CPF traded up $0.14 during trading hours on Wednesday, hitting $26.69. The company had a trading volume of 161,541 shares, compared to its average volume of 189,638. The firm has a market cap of $722.26 million, a price-to-earnings ratio of 13.55 and a beta of 1.17. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.35. The business has a fifty day moving average of $28.54 and a 200-day moving average of $28.97. Central Pacific Financial has a 12 month low of $18.35 and a 12 month high of $33.25.

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, topping analysts’ consensus estimates 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 analysts anticipate that Central Pacific Financial will post 2.75 EPS for the current fiscal year.

Hedge Funds Weigh In On Central Pacific Financial

Hedge funds have recently bought and sold shares of the company. Picton Mahoney Asset Management acquired a new stake in shares of Central Pacific Financial during the 4th quarter worth approximately $30,000. SBI Securities Co. Ltd. acquired a new stake in shares of Central Pacific Financial in the 4th quarter valued at $31,000. Quarry LP bought a new position in shares of Central Pacific Financial in the 3rd quarter valued at $53,000. Quantbot Technologies LP acquired a new position in shares of Central Pacific Financial during the 4th quarter worth $55,000. Finally, KLP Kapitalforvaltning AS bought a new stake in shares of Central Pacific Financial during the 4th quarter worth $168,000. 88.42% of the stock is owned by institutional investors.

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.