Central Pacific Financial (NYSE:CPF) Stock Rating Upgraded by StockNews.com

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

Central Pacific Financial Stock Down 1.5 %

Shares of NYSE CPF traded down $0.47 during mid-day trading on Tuesday, hitting $31.39. 222,879 shares of the stock traded hands, compared to its average volume of 193,626. The stock has a fifty day moving average price of $28.42 and a 200-day moving average price of $24.74. The company has a market cap of $849.57 million, a price-to-earnings ratio of 14.95 and a beta of 1.14. Central Pacific Financial has a 52 week low of $16.45 and a 52 week high of $32.21. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.85 and a current ratio of 0.85.

Institutional Trading of Central Pacific Financial

A number of hedge funds have recently bought and sold shares of CPF. nVerses Capital LLC bought a new position in shares of Central Pacific Financial in the third quarter worth about $50,000. CWM LLC raised its holdings in shares of Central Pacific Financial by 221.9% in the second 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 grew its stake in Central Pacific Financial by 660.9% in the first quarter. Allspring Global Investments Holdings LLC now owns 2,488 shares of the financial services provider’s stock worth $49,000 after purchasing an additional 2,161 shares in the last quarter. USA Financial Formulas bought a new position in Central Pacific Financial in the third quarter worth approximately $81,000. Finally, SG Americas Securities LLC bought a new stake in Central Pacific Financial during the 3rd quarter valued at $183,000. Hedge funds and other institutional investors own 88.42% of the company’s stock.

Central Pacific Financial Company Profile

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.