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

StockNews.com downgraded shares of Central Pacific Financial (NYSE:CPF) from a hold rating to a sell rating in a research note released on Tuesday.

Central Pacific Financial Trading Down 1.5 %

Shares of NYSE CPF opened at $28.43 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. Central Pacific Financial has a twelve month low of $18.00 and a twelve month high of $33.25. The company’s fifty day moving average is $29.52 and its 200-day moving average is $28.19. The stock has a market cap of $769.46 million, a price-to-earnings ratio of 13.54 and a beta of 1.19.

Hedge Funds Weigh In On Central Pacific Financial

Several hedge funds have recently made changes to their positions in the business. Empowered Funds LLC boosted its holdings in shares of 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 valued at $2,631,000 after buying an additional 4,333 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its stake in Central Pacific Financial by 18.8% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 19,588 shares of the financial services provider’s stock valued at $564,000 after acquiring an additional 3,098 shares during the last quarter. EMC Capital Management grew its position in shares of 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 valued at $336,000 after acquiring an additional 5,544 shares during the period. SG Americas Securities LLC raised its holdings in shares of 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 valued at $193,000 after purchasing an additional 448 shares during the period. Finally, Diversified Trust Co grew 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 worth $255,000 after purchasing 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.