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

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

Central Pacific Financial Price Performance

Shares of CPF opened at $30.77 on Wednesday. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.29. Central Pacific Financial has a twelve month low of $16.95 and a twelve month high of $32.21. The stock has a market capitalization of $832.94 million, a P/E ratio of 14.65 and a beta of 1.14. The company has a 50 day moving average of $28.82 and a 200-day moving average of $25.11.

Hedge Funds Weigh In On Central Pacific Financial

Several hedge funds have recently modified their holdings of CPF. Barclays PLC boosted its position in Central Pacific Financial by 84.3% during the third quarter. Barclays PLC now owns 58,493 shares of the financial services provider’s stock valued at $1,726,000 after purchasing an additional 26,755 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Central Pacific Financial by 4.0% in the third quarter. Geode Capital Management LLC now owns 640,369 shares of the financial services provider’s stock valued at $18,901,000 after buying an additional 24,686 shares in the last quarter. XTX Topco Ltd acquired a new position in Central Pacific Financial during the third quarter worth $422,000. Zacks Investment Management bought a new stake in Central Pacific Financial during the third quarter worth $573,000. Finally, Jane Street Group LLC lifted its stake in Central Pacific Financial by 62.7% in the third quarter. Jane Street Group LLC now owns 40,463 shares of the financial services provider’s stock valued at $1,194,000 after acquiring an additional 15,599 shares during the last quarter. Institutional investors own 88.42% of the company’s stock.

Central Pacific Financial Company Profile

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.