StockNews.com Downgrades Central Pacific Financial (NYSE:CPF) to Sell

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

Central Pacific Financial Price Performance

NYSE CPF traded down $0.44 during trading on Tuesday, reaching $28.43. The company’s stock had a trading volume of 301,121 shares, compared to its average volume of 218,507. The firm has a fifty day moving average of $29.52 and a 200 day moving average of $28.19. Central Pacific Financial has a one year low of $18.00 and a one year high of $33.25. The stock has a market capitalization of $769.46 million, a PE ratio of 13.54 and a beta of 1.19. The company has a debt-to-equity ratio of 0.29, a current ratio of 0.85 and a quick ratio of 0.85.

Hedge Funds Weigh In On Central Pacific Financial

A number of hedge funds and other institutional investors have recently modified their holdings of CPF. Empowered Funds LLC boosted its position in Central Pacific Financial by 5.0% during the 4th quarter. Empowered Funds LLC now owns 90,584 shares of the financial services provider’s stock valued at $2,631,000 after buying an additional 4,333 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its position in shares of Central Pacific Financial by 18.8% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 19,588 shares of the financial services provider’s stock valued at $564,000 after buying an additional 3,098 shares during the period. EMC Capital Management lifted its holdings in Central Pacific Financial by 92.2% in the fourth quarter. EMC Capital Management now owns 11,559 shares of the financial services provider’s stock worth $336,000 after buying an additional 5,544 shares during the period. SG Americas Securities LLC grew its stake in shares of Central Pacific Financial by 7.2% in the fourth quarter. SG Americas Securities LLC now owns 6,643 shares of the financial services provider’s stock worth $193,000 after acquiring an additional 448 shares during the last quarter. Finally, Diversified Trust Co increased its holdings in shares of Central Pacific Financial by 9.8% during the fourth quarter. Diversified Trust Co now owns 8,787 shares of the financial services provider’s stock valued at $255,000 after acquiring an additional 783 shares in the last quarter. 88.42% of the stock is currently owned by hedge funds and other institutional investors.

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.