Central Pacific Financial (NYSE:CPF) Upgraded at StockNews.com

Central Pacific Financial (NYSE:CPFGet Rating) was upgraded by StockNews.com from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Thursday.

Several other equities research analysts have also recently weighed in on the stock. Compass Point decreased their price objective on shares of Central Pacific Financial from $30.00 to $29.00 in a research report on Thursday, April 21st. Zacks Investment Research cut shares of Central Pacific Financial from a “buy” rating to a “hold” rating in a research report on Monday, April 25th. Finally, Raymond James increased their price objective on shares of Central Pacific Financial from $29.00 to $33.00 and gave the stock an “outperform” rating in a research report on Thursday, January 27th.

Shares of NYSE CPF opened at $23.74 on Thursday. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.81 and a current ratio of 0.81. Central Pacific Financial has a 52-week low of $23.12 and a 52-week high of $30.97. The firm has a 50 day moving average price of $26.63 and a two-hundred day moving average price of $27.89. The stock has a market cap of $654.08 million, a P/E ratio of 8.19 and a beta of 1.20.

Central Pacific Financial (NYSE:CPFGet Rating) last announced its quarterly earnings results on Wednesday, April 20th. The financial services provider reported $0.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.56 by $0.14. Central Pacific Financial had a net margin of 31.06% and a return on equity of 15.10%. During the same period in the previous year, the company posted $0.64 earnings per share. Analysts predict that Central Pacific Financial will post 2.4 earnings per share for the current fiscal year.

In other Central Pacific Financial news, President Agnes Catherine Ngo sold 6,135 shares of the firm’s stock in a transaction on Monday, February 28th. The shares were sold at an average price of $29.20, for a total value of $179,142.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 2.80% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in the business. BlackRock Inc. lifted its stake in shares of Central Pacific Financial by 0.7% in the first quarter. BlackRock Inc. now owns 4,124,430 shares of the financial services provider’s stock valued at $115,072,000 after buying an additional 27,622 shares in the last quarter. Vanguard Group Inc. lifted its stake in shares of Central Pacific Financial by 5.4% in the first quarter. Vanguard Group Inc. now owns 3,125,351 shares of the financial services provider’s stock valued at $87,198,000 after buying an additional 160,812 shares in the last quarter. Cramer Rosenthal Mcglynn LLC lifted its stake in shares of Central Pacific Financial by 13.8% in the third quarter. Cramer Rosenthal Mcglynn LLC now owns 1,409,926 shares of the financial services provider’s stock valued at $36,207,000 after buying an additional 170,771 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Central Pacific Financial by 0.4% in the first quarter. Dimensional Fund Advisors LP now owns 969,354 shares of the financial services provider’s stock valued at $27,045,000 after buying an additional 4,148 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its stake in shares of Central Pacific Financial by 0.9% in the first quarter. JPMorgan Chase & Co. now owns 817,517 shares of the financial services provider’s stock valued at $22,808,000 after buying an additional 7,541 shares in the last quarter. 89.53% of the stock is currently owned by hedge funds and other institutional investors.

Central Pacific Financial Company Profile (Get Rating)

Central Pacific Financial Corp. operates as the holding company for Central Pacific Bank that provides commercial banking products and services to businesses, professionals, and individuals in the United States. It offers various deposit products and services, including personal and business checking and savings accounts, money market accounts, and time certificates of deposit.

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