Central Pacific Financial (NYSE:CPF - Get Free Report) was upgraded by investment analysts at StockNews.com from a "sell" rating to a "hold" rating in a report released on Wednesday.
Central Pacific Financial Price Performance
Central Pacific Financial stock traded down $0.74 during mid-day trading on Wednesday, hitting $29.66. The company's stock had a trading volume of 202,253 shares, compared to its average volume of 197,410. Central Pacific Financial has a twelve month low of $18.00 and a twelve month high of $33.25. The stock's fifty day moving average price is $29.15 and its two-hundred day moving average price is $28.47. The stock has a market capitalization of $802.90 million, a P/E ratio of 15.06 and a beta of 1.19. 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 - Get Free Report) last issued its quarterly 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 net margin of 15.49% and a return on equity of 12.03%. Research analysts forecast that Central Pacific Financial will post 2.75 earnings per share for the current year.
Hedge Funds Weigh In On Central Pacific Financial
Several institutional investors and hedge funds have recently modified their holdings of the stock. Sei Investments Co. grew its stake in Central Pacific Financial by 77.9% in the second quarter. Sei Investments Co. now owns 31,084 shares of the financial services provider's stock valued at $659,000 after purchasing an additional 13,609 shares in the last quarter. Truist Financial Corp grew its stake in shares of Central Pacific Financial by 14.1% in the 2nd quarter. Truist Financial Corp now owns 17,113 shares of the financial services provider's stock valued at $363,000 after buying an additional 2,110 shares in the last quarter. SG Americas Securities LLC acquired a new position in Central Pacific Financial in the third quarter worth approximately $183,000. Diversified Trust Co bought a new position in Central Pacific Financial during the third quarter valued at approximately $236,000. Finally, CWM LLC lifted its stake in Central Pacific Financial by 77.7% in the third quarter. CWM LLC now owns 3,477 shares of the financial services provider's stock valued at $103,000 after acquiring an additional 1,520 shares during the last quarter. 88.42% of the stock is currently owned by hedge funds and other institutional investors.
About Central Pacific Financial
(
Get Free Report)
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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