Central Pacific Financial (NYSE:CPF) Upgraded to “Buy” by StockNews.com

Central Pacific Financial (NYSE:CPFGet Rating) was upgraded by investment analysts at StockNews.com from a “hold” rating to a “buy” rating in a research report issued on Wednesday.

Separately, Raymond James dropped their price objective on Central Pacific Financial from $33.00 to $26.00 and set an “outperform” rating on the stock in a research note on Thursday, July 7th.

Central Pacific Financial Stock Down 0.4 %

NYSE:CPF opened at $22.67 on Wednesday. Central Pacific Financial has a 12-month low of $20.61 and a 12-month high of $30.97. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.23. The firm has a market capitalization of $620.77 million, a P/E ratio of 7.87 and a beta of 1.21. The stock’s fifty day simple moving average is $22.80 and its 200-day simple moving average is $24.14.

Central Pacific Financial (NYSE:CPFGet Rating) last issued its quarterly earnings data on Wednesday, July 27th. The financial services provider reported $0.64 EPS for the quarter, topping the consensus estimate of $0.55 by $0.09. The business had revenue of $70.12 million for the quarter, compared to the consensus estimate of $62.25 million. Central Pacific Financial had a return on equity of 15.60% and a net margin of 29.75%. Equities research analysts expect that Central Pacific Financial will post 2.55 earnings per share for the current year.

Institutional Trading of Central Pacific Financial

Hedge funds and other institutional investors have recently modified their holdings of the company. Captrust Financial Advisors raised its stake in shares of Central Pacific Financial by 127.6% in the 1st quarter. Captrust Financial Advisors now owns 1,853 shares of the financial services provider’s stock valued at $52,000 after purchasing an additional 1,039 shares during the period. Hillsdale Investment Management Inc. bought a new position in shares of Central Pacific Financial in the 1st quarter valued at about $57,000. Point72 Hong Kong Ltd bought a new position in shares of Central Pacific Financial in the 2nd quarter valued at about $65,000. Quantbot Technologies LP bought a new position in shares of Central Pacific Financial in the 2nd quarter valued at about $86,000. Finally, Russell Investments Group Ltd. bought a new position in shares of Central Pacific Financial in the 2nd quarter valued at about $98,000. Institutional investors and hedge funds own 90.30% of the company’s stock.

Central Pacific Financial Company Profile

(Get Rating)

Central Pacific Financial Corp. operates as the holding company for Central Pacific Bank that provides commercial banking products and services to businesses, professionals, and individuals in the United States. It offers various deposit products and services, including personal and business checking and savings accounts, money market accounts, and time certificates of deposit.

Featured Stories

Receive News & Ratings for Central Pacific Financial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Central Pacific Financial and related companies with MarketBeat.com's FREE daily email newsletter.