Central Pacific Financial (NYSE:CPF) Trading Down 5.7% – Time to Sell?

Central Pacific Financial Corp. (NYSE:CPF)’s stock price traded down 5.7% during trading on Wednesday . The company traded as low as $27.36 and last traded at $27.48. 48,803 shares changed hands during mid-day trading, a decline of 74% from the average session volume of 190,474 shares. The stock had previously closed at $29.15.

Central Pacific Financial Price Performance

The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.30. The company has a market cap of $737.16 million, a P/E ratio of 14.22 and a beta of 1.13. The business’s fifty day moving average is $28.11 and its 200 day moving average is $24.07.

Central Pacific Financial (NYSE:CPF) last posted its quarterly earnings results on Wednesday, July 31st. The financial services provider reported $0.58 EPS for the quarter, topping analysts’ consensus estimates of $0.48 by $0.10. The company had revenue of $87.96 million for the quarter, compared to analysts’ expectations of $61.74 million. Central Pacific Financial had a net margin of 16.44% and a return on equity of 11.36%. During the same quarter in the previous year, the firm posted $0.53 EPS. As a group, sell-side analysts anticipate that Central Pacific Financial Corp. will post 2.2 EPS for the current year.

Institutional Investors Weigh In On Central Pacific Financial

Hedge funds have recently modified their holdings of the stock. CWM LLC raised its holdings in shares of Central Pacific Financial by 221.9% in the 2nd quarter. CWM LLC now owns 1,957 shares of the financial services provider’s stock worth $41,000 after purchasing an additional 1,349 shares during the period. Allspring Global Investments Holdings LLC raised its holdings in Central Pacific Financial by 660.9% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 2,488 shares of the financial services provider’s stock valued at $49,000 after acquiring an additional 2,161 shares during the period. nVerses Capital LLC bought a new stake in Central Pacific Financial during the 3rd quarter valued at $50,000. USA Financial Formulas bought a new stake in Central Pacific Financial during the 3rd quarter valued at $81,000. Finally, Central Pacific Bank Trust Division bought a new stake in Central Pacific Financial during the 1st quarter valued at $134,000. 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.