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

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

Central Pacific Financial Stock Performance

CPF traded down $0.44 during mid-day trading on Tuesday, reaching $28.43. 301,121 shares of the company traded hands, compared to its average volume of 218,507. The company’s fifty day moving average price is $29.52 and its 200-day moving average price is $28.19. The stock has a market capitalization of $769.46 million, a P/E ratio of 13.54 and a beta of 1.19. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.29. Central Pacific Financial has a 52-week low of $18.00 and a 52-week high of $33.25.

Hedge Funds Weigh In On Central Pacific Financial

A number of institutional investors have recently bought and sold shares of CPF. Empowered Funds LLC increased its holdings in Central Pacific Financial by 5.0% in the 4th quarter. Empowered Funds LLC now owns 90,584 shares of the financial services provider’s stock worth $2,631,000 after acquiring an additional 4,333 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of Central Pacific Financial by 18.8% during the 4th 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 in the last quarter. EMC Capital Management boosted its holdings in Central Pacific Financial by 92.2% in the 4th 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 increased its stake in Central Pacific Financial by 7.2% in the 4th quarter. SG Americas Securities LLC now owns 6,643 shares of the financial services provider’s stock worth $193,000 after buying an additional 448 shares in the last quarter. Finally, Diversified Trust Co raised its holdings in 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 during the period. 88.42% of the stock is owned by 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.