Central Pacific Financial (NYSE:CPF) Rating Lowered to “Sell” at StockNews.com

Central Pacific Financial (NYSE:CPF) was downgraded by stock analysts at StockNews.com from a “hold” rating to a “sell” rating in a note issued to investors on Friday.

Central Pacific Financial Price Performance

Central Pacific Financial stock opened at $27.09 on Friday. The company has a current ratio of 0.85, a quick ratio of 0.86 and a debt-to-equity ratio of 0.35. The business has a 50-day moving average of $28.12 and a 200-day moving average of $24.16. Central Pacific Financial has a 1 year low of $16.27 and a 1 year high of $30.30. The firm has a market capitalization of $733.06 million, a P/E ratio of 12.90 and a beta of 1.13.

Central Pacific Financial (NYSE:CPF) last issued its quarterly earnings data on Wednesday, October 30th. The financial services provider reported $0.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.56 by $0.02. Central Pacific Financial had a return on equity of 11.44% and a net margin of 16.10%. The business had revenue of $66.59 million during the quarter, compared to analyst estimates of $65.22 million. On average, equities analysts anticipate that Central Pacific Financial will post 2.2 EPS for the current year.

Institutional Investors Weigh In On Central Pacific Financial

A number of institutional investors and hedge funds have recently made changes to their positions in CPF. Boston Partners bought a new stake in Central Pacific Financial in the 1st quarter valued at $740,000. State Board of Administration of Florida Retirement System acquired a new stake in shares of Central Pacific Financial during the 1st quarter worth $409,000. Acadian Asset Management LLC grew its holdings in shares of Central Pacific Financial by 359.7% during the 1st quarter. Acadian Asset Management LLC now owns 462,925 shares of the financial services provider’s stock worth $9,140,000 after purchasing an additional 362,232 shares in the last quarter. LSV Asset Management boosted its stake in Central Pacific Financial by 9.5% in the first quarter. LSV Asset Management now owns 599,368 shares of the financial services provider’s stock valued at $11,838,000 after buying an additional 51,967 shares in the last quarter. Finally, Assenagon Asset Management S.A. boosted its stake in Central Pacific Financial by 143.4% in 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 buying an additional 268,719 shares in the last quarter. 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.