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

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

Central Pacific Financial Stock Down 1.7 %

CPF traded down $0.55 during midday trading on Monday, hitting $31.37. 245,955 shares of the company’s stock traded hands, compared to its average volume of 195,771. The company has a debt-to-equity ratio of 0.29, a current ratio of 0.85 and a quick ratio of 0.85. The company has a market cap of $849.19 million, a PE ratio of 14.94 and a beta of 1.14. The stock’s fifty day simple moving average is $29.50 and its 200-day simple moving average is $25.72. Central Pacific Financial has a one year low of $18.00 and a one year high of $33.25.

Hedge Funds Weigh In On Central Pacific Financial

Hedge funds have recently bought and sold shares of the business. Boston Partners bought a new stake in shares of Central Pacific Financial during the 1st quarter worth about $740,000. Quest Partners LLC boosted its position in Central Pacific Financial by 144.4% during the third 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 period. Assenagon Asset Management S.A. grew its holdings in Central Pacific Financial by 143.4% during the third quarter. Assenagon Asset Management S.A. now owns 456,132 shares of the financial services provider’s stock valued at $13,460,000 after purchasing an additional 268,719 shares during the last quarter. Acadian Asset Management LLC grew its holdings in Central Pacific Financial by 16.6% during the second quarter. Acadian Asset Management LLC now owns 539,882 shares of the financial services provider’s stock valued at $11,442,000 after purchasing an additional 76,957 shares during the last quarter. Finally, nVerses Capital LLC bought a new position in shares of Central Pacific Financial in the third quarter valued at approximately $50,000. 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.