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 research note issued to investors on Thursday.

Central Pacific Financial Price Performance

NYSE:CPF opened at $29.54 on Thursday. Central Pacific Financial has a 12-month low of $18.19 and a 12-month high of $33.25. The firm has a market cap of $799.67 million, a price-to-earnings ratio of 15.00 and a beta of 1.19. The company’s 50-day moving average is $28.96 and its two-hundred day moving average is $28.60. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.35.

Central Pacific Financial (NYSE:CPF) last announced its quarterly earnings data on Wednesday, January 29th. The financial services provider reported $0.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.61 by $0.09. Central Pacific Financial had a net margin of 15.49% and a return on equity of 12.03%. Research analysts expect that Central Pacific Financial will post 2.75 EPS for the current year.

Institutional Trading of Central Pacific Financial

A number of hedge funds have recently added to or reduced their stakes in the business. Basswood Capital Management L.L.C. purchased a new position in shares of Central Pacific Financial during the 3rd quarter worth about $15,455,000. Assenagon Asset Management S.A. increased its position in Central Pacific Financial by 143.4% during the third quarter. Assenagon Asset Management S.A. now owns 456,132 shares of the financial services provider’s stock worth $13,460,000 after purchasing an additional 268,719 shares during the last quarter. ExodusPoint Capital Management LP raised its stake in Central Pacific Financial by 342.0% during the fourth quarter. ExodusPoint Capital Management LP now owns 277,664 shares of the financial services provider’s stock worth $8,066,000 after purchasing an additional 214,840 shares during the period. JPMorgan Chase & Co. boosted its holdings in shares of Central Pacific Financial by 36.6% in the 4th quarter. JPMorgan Chase & Co. now owns 589,609 shares of the financial services provider’s stock valued at $17,128,000 after purchasing an additional 158,111 shares during the last quarter. Finally, North Reef Capital Management LP grew its stake in shares of Central Pacific Financial by 264.6% during the 4th quarter. North Reef Capital Management LP now owns 188,558 shares of the financial services provider’s stock valued at $5,478,000 after buying an additional 136,843 shares during the period. 88.42% of the stock is owned by institutional investors and hedge funds.

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.