Central Pacific Financial (NYSE:CPF) Upgraded by Zacks Investment Research to Hold

Central Pacific Financial (NYSE:CPF) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued to investors on Monday, April 2nd.

According to Zacks, “Central Pacific Financial Corp. is a Hawaii-based bank holding company. Central Pacific Bank, its subsidiary, is Hawaii’s third largest commercial bank. “

How to Become a New Pot Stock Millionaire

NYSE:CPF traded down $0.33 during midday trading on Monday, reaching $29.11. The company had a trading volume of 83,214 shares, compared to its average volume of 150,463. The firm has a market cap of $871.37, a PE ratio of 18.52 and a beta of 1.13. Central Pacific Financial has a 12-month low of $27.34 and a 12-month high of $33.55. The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 0.19.

Central Pacific Financial (NYSE:CPF) last announced its quarterly earnings results on Wednesday, January 24th. The financial services provider reported $0.39 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.41 by ($0.02). The business had revenue of $51.87 million for the quarter, compared to analysts’ expectations of $52.60 million. Central Pacific Financial had a return on equity of 9.56% and a net margin of 18.81%. During the same period last year, the firm earned $0.39 earnings per share. equities analysts forecast that Central Pacific Financial will post 2.04 EPS for the current year.

In other news, Director Colbert M. Matsumoto bought 1,000 shares of Central Pacific Financial stock in a transaction dated Tuesday, February 6th. The stock was acquired at an average cost of $28.61 per share, with a total value of $28,610.00. Following the acquisition, the director now owns 2,375 shares of the company’s stock, valued at $67,948.75. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders bought a total of 2,850 shares of company stock valued at $82,710 over the last three months. Company insiders own 4.30% of the company’s stock.

A number of hedge funds have recently modified their holdings of the stock. Cornerstone Capital Management Holdings LLC. acquired a new stake in shares of Central Pacific Financial in the 4th quarter worth approximately $193,000. Xact Kapitalforvaltning AB acquired a new stake in shares of Central Pacific Financial in the 4th quarter worth approximately $218,000. Teacher Retirement System of Texas acquired a new stake in shares of Central Pacific Financial in the 4th quarter worth approximately $310,000. Stone Ridge Asset Management LLC acquired a new stake in shares of Central Pacific Financial in the 4th quarter worth approximately $336,000. Finally, HBK Investments L P grew its holdings in shares of Central Pacific Financial by 47.7% in the 4th quarter. HBK Investments L P now owns 12,700 shares of the financial services provider’s stock worth $379,000 after acquiring an additional 4,100 shares during the period. Hedge funds and other institutional investors own 92.56% of the company’s stock.

COPYRIGHT VIOLATION NOTICE: “Central Pacific Financial (NYSE:CPF) Upgraded by Zacks Investment Research to Hold” was first posted by Week Herald and is owned by of Week Herald. If you are accessing this piece of content on another domain, it was illegally stolen and republished in violation of U.S. and international trademark and copyright law. The legal version of this piece of content can be viewed at https://weekherald.com/2018/04/17/central-pacific-financial-cpf-lifted-to-hold-at-zacks-investment-research.html.

Central Pacific Financial Company Profile

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 Hawaii. The company operates in three segments: Banking Operations, Treasury, and All Others. It offers various deposit products and services, including personal and business checking and savings accounts, money market accounts, and time certificates of deposit.

Get a free copy of the Zacks research report on Central Pacific Financial (CPF)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

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.

Leave a Reply