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

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

Central Pacific Financial Price Performance

Shares of NYSE CPF opened at $27.29 on Thursday. The firm has a market cap of $740.05 million, a P/E ratio of 13.85 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 1-year low of $18.35 and a 1-year high of $33.25. The business’s 50 day moving average is $28.45 and its 200-day moving average is $28.93.

Central Pacific Financial (NYSE:CPF) last announced its earnings results on Wednesday, January 29th. The financial services provider reported $0.70 earnings per share for the quarter, topping 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%. Equities research analysts predict that Central Pacific Financial will post 2.75 earnings per share for the current year.

Hedge Funds Weigh In On Central Pacific Financial

Large investors have recently made changes to their positions in the company. JPMorgan Chase & Co. grew its position in Central Pacific Financial by 6.4% during the third quarter. JPMorgan Chase & Co. now owns 431,498 shares of the financial services provider’s stock worth $12,734,000 after buying an additional 26,139 shares in the last quarter. Geode Capital Management LLC grew its position in Central Pacific Financial by 4.0% during the third quarter. Geode Capital Management LLC now owns 640,369 shares of the financial services provider’s stock worth $18,901,000 after buying an additional 24,686 shares in the last quarter. Quest Partners LLC grew its position in Central Pacific Financial by 144.4% during the third quarter. Quest Partners LLC now owns 32,083 shares of the financial services provider’s stock worth $947,000 after buying an additional 18,955 shares in the last quarter. Barclays PLC grew 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 worth $1,726,000 after buying an additional 26,755 shares in the last quarter. Finally, Y Intercept Hong Kong Ltd acquired a new stake in Central Pacific Financial during the fourth quarter worth approximately $413,000. 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.