Central Pacific Financial (NYSE:CPF) Downgraded to "Sell" Rating by StockNews.com

StockNews.com cut shares of Central Pacific Financial (NYSE:CPF - Free Report) from a hold rating to a sell rating in a report released on Wednesday.

Central Pacific Financial Stock Up 0.5 %

CPF stock opened at $26.69 on Wednesday. The company has a market cap of $722.26 million, a price-to-earnings ratio of 13.55 and a beta of 1.17. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.35. Central Pacific Financial has a 12 month low of $18.35 and a 12 month high of $33.25. The firm has a 50-day moving average of $28.54 and a two-hundred day moving average of $28.97.

Central Pacific Financial (NYSE:CPF - Get Free Report) last posted its quarterly earnings results on Wednesday, January 29th. The financial services provider reported $0.70 earnings per share for the quarter, beating the consensus estimate of $0.61 by $0.09. Central Pacific Financial had a net margin of 15.49% and a return on equity of 12.03%. As a group, analysts forecast that Central Pacific Financial will post 2.75 earnings per share for the current fiscal year.

Central Pacific Financial Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Friday, February 28th will be paid a $0.27 dividend. This is a boost from Central Pacific Financial's previous quarterly dividend of $0.26. The ex-dividend date is Friday, February 28th. This represents a $1.08 annualized dividend and a dividend yield of 4.05%. Central Pacific Financial's dividend payout ratio is 54.82%.

Hedge Funds Weigh In On Central Pacific Financial

A number of hedge funds have recently made changes to their positions in CPF. Empowered Funds LLC boosted its position in shares of Central Pacific Financial by 5.2% during the 3rd quarter. Empowered Funds LLC now owns 86,251 shares of the financial services provider's stock worth $2,545,000 after purchasing an additional 4,288 shares during the period. Quest Partners LLC boosted its position in Central Pacific Financial by 144.4% in the 3rd quarter. Quest Partners LLC now owns 32,083 shares of the financial services provider's stock valued at $947,000 after buying an additional 18,955 shares during the period. Algert Global LLC boosted its position in Central Pacific Financial by 1.4% in the 3rd quarter. Algert Global LLC now owns 41,936 shares of the financial services provider's stock valued at $1,238,000 after buying an additional 570 shares during the period. FMR LLC boosted its position in Central Pacific Financial by 24.4% in the 3rd quarter. FMR LLC now owns 295,359 shares of the financial services provider's stock valued at $8,716,000 after buying an additional 58,009 shares during the period. Finally, Martingale Asset Management L P boosted its position in Central Pacific Financial by 4.6% in the 3rd quarter. Martingale Asset Management L P now owns 90,226 shares of the financial services provider's stock valued at $2,663,000 after buying an additional 3,945 shares during the period. Hedge funds and other 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.

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