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

StockNews.com lowered shares of Central Pacific Financial (NYSE:CPF) from a hold rating to a sell rating in a research note published on Friday.

Central Pacific Financial Stock Performance

NYSE:CPF opened at $27.09 on Friday. The firm’s fifty day simple moving average is $28.12 and its 200 day simple moving average is $24.20. The company has a current ratio of 0.85, a quick ratio of 0.86 and a debt-to-equity ratio of 0.29. Central Pacific Financial has a twelve month low of $16.27 and a twelve month high of $30.30. The firm has a market capitalization of $733.33 million, a price-to-earnings ratio of 12.90 and a beta of 1.14.

Central Pacific Financial Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 29th will be paid a $0.26 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 3.84%. Central Pacific Financial’s dividend payout ratio (DPR) is currently 49.52%.

Hedge Funds Weigh In On Central Pacific Financial

Several hedge funds and other institutional investors have recently bought and sold shares of CPF. nVerses Capital LLC purchased a new stake in shares of Central Pacific Financial during the third quarter valued at approximately $50,000. CWM LLC increased its stake in Central Pacific Financial by 221.9% during the 2nd quarter. CWM LLC now owns 1,957 shares of the financial services provider’s stock worth $41,000 after buying an additional 1,349 shares during the period. Allspring Global Investments Holdings LLC lifted its holdings in Central Pacific Financial by 660.9% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 2,488 shares of the financial services provider’s stock worth $49,000 after buying an additional 2,161 shares in the last quarter. USA Financial Formulas acquired a new stake in shares of Central Pacific Financial during the third quarter valued at about $81,000. Finally, SG Americas Securities LLC purchased a new stake in shares of Central Pacific Financial during the third quarter worth about $183,000. 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.