Central Pacific Financial (CPF) Lowered to Sell at Zacks Investment Research

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Central Pacific Financial (NYSE:CPF) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Monday.

According to Zacks, “Central Pacific Financial Corp. is a Hawaii-based bank holding company. Central Pacific Bank, its subsidiary, is Hawaii’s third largest commercial bank. “

Separately, ValuEngine raised Central Pacific Financial from a “sell” rating to a “hold” rating in a research report on Monday, December 17th.

Shares of NYSE CPF traded up $0.23 during trading hours on Monday, hitting $29.37. 118,900 shares of the company’s stock were exchanged, compared to its average volume of 165,764. Central Pacific Financial has a 1-year low of $23.23 and a 1-year high of $31.61. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.81 and a current ratio of 0.81. The stock has a market capitalization of $850.09 million, a PE ratio of 14.61 and a beta of 1.04.

Central Pacific Financial (NYSE:CPF) last posted its quarterly earnings data on Wednesday, January 30th. The financial services provider reported $0.54 earnings per share for the quarter, topping the consensus estimate of $0.49 by $0.05. Central Pacific Financial had a return on equity of 12.30% and a net margin of 25.09%. The business had revenue of $54.08 million during the quarter, compared to analysts’ expectations of $53.80 million. As a group, equities research analysts forecast that Central Pacific Financial will post 2.07 EPS for the current fiscal year.

Institutional investors have recently bought and sold shares of the business. Quantamental Technologies LLC acquired a new position in Central Pacific Financial in the 4th quarter valued at approximately $44,000. Tower Research Capital LLC TRC acquired a new position in Central Pacific Financial in the 3rd quarter valued at approximately $123,000. SG Americas Securities LLC acquired a new position in Central Pacific Financial in the 4th quarter valued at approximately $162,000. Verition Fund Management LLC acquired a new position in Central Pacific Financial in the 3rd quarter valued at approximately $218,000. Finally, Jefferies Group LLC acquired a new position in Central Pacific Financial in the 3rd quarter valued at approximately $233,000. 93.47% of the stock is owned by hedge funds and other institutional investors.

Central Pacific Financial Company Profile

Central Pacific Financial Corp. operates as the holding company for Central Pacific Bank that provides commercial banking products and services to businesses, professionals, and individuals in Hawaii. The company operates in three segments: Banking Operations, Treasury, and All Others. It offers various deposit products and services, including personal and business checking and savings accounts, money market accounts, and time certificates of deposit.

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