Central Pacific Financial (NYSE:CPF) Raised to Hold at StockNews.com

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

Central Pacific Financial Stock Performance

CPF opened at $26.86 on Thursday. Central Pacific Financial has a 12-month low of $18.53 and a 12-month high of $33.25. The stock has a market cap of $728.44 million, a price-to-earnings ratio of 13.64 and a beta of 1.17. The business has a 50 day moving average of $28.45 and a 200-day moving average of $28.91. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.35.

Central Pacific Financial (NYSE:CPF) last released its quarterly earnings data on Wednesday, January 29th. The financial services provider reported $0.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.61 by $0.09. Central Pacific Financial had a return on equity of 12.03% and a net margin of 15.49%. On average, equities research analysts expect that Central Pacific Financial will post 2.75 earnings per share for the current year.

Institutional Trading of Central Pacific Financial

Hedge funds have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. lifted its holdings in Central Pacific Financial by 6.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 431,498 shares of the financial services provider’s stock worth $12,734,000 after purchasing an additional 26,139 shares during the last quarter. Geode Capital Management LLC lifted its holdings in Central Pacific Financial by 4.0% during the 3rd quarter. Geode Capital Management LLC now owns 640,369 shares of the financial services provider’s stock worth $18,901,000 after purchasing an additional 24,686 shares during the last quarter. Quest Partners LLC lifted its holdings in Central Pacific Financial by 144.4% during the 3rd quarter. Quest Partners LLC now owns 32,083 shares of the financial services provider’s stock worth $947,000 after purchasing an additional 18,955 shares during the last quarter. Barclays PLC lifted its holdings in Central Pacific Financial by 84.3% during the 3rd quarter. Barclays PLC now owns 58,493 shares of the financial services provider’s stock worth $1,726,000 after purchasing an additional 26,755 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd acquired a new stake in Central Pacific Financial during the 4th quarter worth approximately $413,000. 88.42% of the stock is 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.