Central Pacific Financial (NYSE:CPF) Cut 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 research note issued on Wednesday.

Central Pacific Financial Stock Up 0.5 %

Shares of Central Pacific Financial stock traded up $0.14 during trading on Wednesday, reaching $26.69. The stock had a trading volume of 161,541 shares, compared to its average volume of 189,638. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.35. The company has a market capitalization of $722.26 million, a price-to-earnings ratio of 13.55 and a beta of 1.17. The stock has a fifty day moving average price of $28.54 and a two-hundred day moving average price of $28.97. Central Pacific Financial has a 52 week low of $18.35 and a 52 week high of $33.25.

Central Pacific Financial (NYSE:CPF) last released its earnings results on Wednesday, January 29th. The financial services provider reported $0.70 EPS for the quarter, beating the consensus estimate of $0.61 by $0.09. Central Pacific Financial had a return on equity of 12.03% and a net margin of 15.49%. Sell-side analysts predict that Central Pacific Financial will post 2.75 EPS for the current fiscal year.

Hedge Funds Weigh In On Central Pacific Financial

A number of large investors have recently modified their holdings of the business. Vanguard Group Inc. raised its holdings in Central Pacific Financial by 1.0% during the fourth quarter. Vanguard Group Inc. now owns 2,124,330 shares of the financial services provider’s stock worth $61,712,000 after acquiring an additional 20,196 shares in the last quarter. American Century Companies Inc. raised its stake in shares of Central Pacific Financial by 13.2% during the 4th quarter. American Century Companies Inc. now owns 659,482 shares of the financial services provider’s stock worth $19,158,000 after purchasing an additional 77,032 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of Central Pacific Financial by 0.6% in the 4th quarter. Geode Capital Management LLC now owns 644,390 shares of the financial services provider’s stock valued at $18,724,000 after buying an additional 4,021 shares during the last quarter. Renaissance Technologies LLC grew its stake in shares of Central Pacific Financial by 11.6% in the fourth quarter. Renaissance Technologies LLC now owns 637,053 shares of the financial services provider’s stock valued at $18,506,000 after buying an additional 66,053 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its stake in shares of Central Pacific Financial by 36.6% in the fourth quarter. JPMorgan Chase & Co. now owns 589,609 shares of the financial services provider’s stock valued at $17,128,000 after buying an additional 158,111 shares in the last quarter. 88.42% of the stock is currently 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.