Central Pacific Financial (NYSE:CPF) Stock Rating Upgraded by StockNews.com

Central Pacific Financial (NYSE:CPFGet Rating) was upgraded by equities research analysts at StockNews.com from a “hold” rating to a “buy” rating in a research note issued on Friday.

Separately, Raymond James decreased their price objective on Central Pacific Financial from $33.00 to $26.00 and set an “outperform” rating on the stock in a report on Thursday, July 7th.

Central Pacific Financial Trading Up 2.0 %

Central Pacific Financial stock opened at $21.90 on Friday. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.81 and a quick ratio of 0.81. The firm’s 50 day moving average price is $22.73 and its 200-day moving average price is $24.52. Central Pacific Financial has a 1 year low of $20.61 and a 1 year high of $30.97. The stock has a market cap of $599.69 million, a P/E ratio of 7.60 and a beta of 1.21.

Central Pacific Financial (NYSE:CPFGet Rating) last announced its quarterly earnings results on Wednesday, July 27th. The financial services provider reported $0.64 EPS for the quarter, topping the consensus estimate of $0.55 by $0.09. Central Pacific Financial had a net margin of 29.75% and a return on equity of 15.60%. The business had revenue of $70.12 million for the quarter, compared to analysts’ expectations of $62.25 million. On average, equities analysts predict that Central Pacific Financial will post 2.55 earnings per share for the current fiscal year.

Institutional Trading of Central Pacific Financial

Hedge funds and other institutional investors have recently bought and sold shares of the stock. BlackRock Inc. raised its holdings in 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 worth $115,072,000 after purchasing an additional 27,622 shares in the last quarter. Vanguard Group Inc. boosted its stake in 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 acquiring an additional 160,812 shares in the last quarter. State Street Corp grew its holdings in Central Pacific Financial by 14.7% in the first quarter. State Street Corp now owns 1,403,877 shares of the financial services provider’s stock worth $39,168,000 after purchasing an additional 179,672 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of Central Pacific Financial by 0.4% during the first quarter. Dimensional Fund Advisors LP now owns 969,354 shares of the financial services provider’s stock worth $27,045,000 after purchasing an additional 4,148 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its holdings in shares of Central Pacific Financial by 4.7% during the 2nd quarter. JPMorgan Chase & Co. now owns 856,093 shares of the financial services provider’s stock valued at $18,363,000 after purchasing an additional 38,576 shares during the last quarter. Institutional investors own 90.30% of the company’s stock.

About Central Pacific Financial

(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.

Further Reading

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