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

StockNews.com downgraded shares of Central Pacific Financial (NYSE:CPF) from a hold rating to a sell rating in a report issued on Tuesday morning.

Central Pacific Financial Trading Up 0.6 %

CPF opened at $31.10 on Tuesday. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.29. The stock’s fifty day moving average is $29.92 and its two-hundred day moving average is $26.23. The company has a market capitalization of $841.88 million, a P/E ratio of 14.81 and a beta of 1.18. Central Pacific Financial has a 52 week low of $18.00 and a 52 week high of $33.25.

Central Pacific Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 29th will be paid a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a yield of 3.34%. The ex-dividend date is Friday, November 29th. Central Pacific Financial’s dividend payout ratio (DPR) is presently 49.52%.

Institutional Investors Weigh In On Central Pacific Financial

Several large investors have recently modified their holdings of the business. Quest Partners LLC increased its holdings 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 valued at $947,000 after buying an additional 18,955 shares during the period. Assenagon Asset Management S.A. raised its position in shares of Central Pacific Financial by 143.4% in the 3rd quarter. Assenagon Asset Management S.A. now owns 456,132 shares of the financial services provider’s stock worth $13,460,000 after acquiring an additional 268,719 shares in the last quarter. Acadian Asset Management LLC lifted its stake in shares of Central Pacific Financial by 16.6% during the 2nd quarter. Acadian Asset Management LLC now owns 539,882 shares of the financial services provider’s stock worth $11,442,000 after purchasing an additional 76,957 shares during the last quarter. nVerses Capital LLC bought a new stake in Central Pacific Financial during the third quarter valued at about $50,000. Finally, LSV Asset Management grew its stake in Central Pacific Financial by 10.7% in the second quarter. LSV Asset Management now owns 663,230 shares of the financial services provider’s stock valued at $14,060,000 after purchasing an additional 63,862 shares during the last quarter. Institutional investors own 88.42% of the company’s stock.

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.