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

Central Pacific Financial (NYSE:CPF - Get Free Report) was downgraded by research analysts at StockNews.com from a "hold" rating to a "sell" rating in a report released on Tuesday.

Central Pacific Financial Stock Performance

Shares of NYSE CPF traded up $0.43 during midday trading on Tuesday, reaching $29.87. 292,922 shares of the company were exchanged, compared to its average volume of 203,847. The stock has a fifty day simple moving average of $29.38 and a 200 day simple moving average of $28.28. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.29. The stock has a market cap of $808.43 million, a P/E ratio of 15.16 and a beta of 1.19. Central Pacific Financial has a 1 year low of $18.00 and a 1 year high of $33.25.

Central Pacific Financial (NYSE:CPF - Get Free Report) last released its earnings results 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 12.12% and a net margin of 15.49%. On average, research analysts forecast that Central Pacific Financial will post 2.55 earnings per share for the current fiscal year.

Institutional Trading of Central Pacific Financial

Several hedge funds have recently modified their holdings of CPF. JPMorgan Chase & Co. lifted its holdings in Central Pacific Financial by 6.4% in the third quarter. JPMorgan Chase & Co. now owns 431,498 shares of the financial services provider's stock valued at $12,734,000 after acquiring an additional 26,139 shares during the period. Geode Capital Management LLC increased its holdings in shares of Central Pacific Financial by 4.0% in the 3rd quarter. Geode Capital Management LLC now owns 640,369 shares of the financial services provider's stock valued at $18,901,000 after purchasing an additional 24,686 shares in the last quarter. Quest Partners LLC lifted its stake in shares of Central Pacific Financial by 144.4% in the third quarter. Quest Partners LLC now owns 32,083 shares of the financial services provider's stock valued at $947,000 after purchasing an additional 18,955 shares during the period. Barclays PLC boosted its holdings 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 worth $1,726,000 after buying an additional 26,755 shares in the last quarter. Finally, Assenagon Asset Management S.A. grew its position in Central Pacific Financial by 143.4% during the third quarter. Assenagon Asset Management S.A. now owns 456,132 shares of the financial services provider's stock worth $13,460,000 after buying an additional 268,719 shares during the period. 88.42% of the stock is owned by institutional investors and hedge funds.

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.