Zacks Investment Research downgraded shares of Central Pacific Financial (NYSE:CPF) from a buy rating to a hold rating in a research note released on Wednesday, Zacks.com reports.

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. “

Separately, ValuEngine raised Central Pacific Financial from a sell rating to a hold rating in a research note on Monday, December 17th.

Shares of CPF stock traded up $0.06 on Wednesday, reaching $29.65. The company had a trading volume of 10,349 shares, compared to its average volume of 143,511. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.81 and a quick ratio of 0.81. The stock has a market cap of $845.78 million, a PE ratio of 14.75 and a beta of 1.02. Central Pacific Financial has a 12 month low of $23.23 and a 12 month high of $31.61.

Central Pacific Financial (NYSE:CPF) last announced its quarterly earnings results on Wednesday, January 30th. The financial services provider reported $0.54 EPS for the quarter, beating analysts’ consensus estimates of $0.49 by $0.05. The company had revenue of $54.08 million during the quarter, compared to analysts’ expectations of $53.80 million. Central Pacific Financial had a return on equity of 12.30% and a net margin of 25.09%. As a group, research analysts anticipate that Central Pacific Financial will post 2.12 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Thursday, February 28th were paid a dividend of $0.21 per share. The ex-dividend date of this dividend was Wednesday, February 27th. This represents a $0.84 dividend on an annualized basis and a yield of 2.83%. Central Pacific Financial’s payout ratio is 41.79%.

In other news, Director John C. Dean sold 5,000 shares of the firm’s stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $28.75, for a total transaction of $143,750.00. Following the completion of the transaction, the director now directly owns 3,398 shares of the company’s stock, valued at approximately $97,692.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Blenn Fujimoto sold 1,600 shares of the stock in a transaction that occurred on Wednesday, February 20th. The shares were sold at an average price of $30.00, for a total value of $48,000.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 21,600 shares of company stock valued at $638,120. 3.80% of the stock is owned by company insiders.

A number of institutional investors have recently made changes to their positions in CPF. Vanguard Group Inc grew its holdings in Central Pacific Financial by 1.5% during the 3rd quarter. Vanguard Group Inc now owns 2,970,174 shares of the financial services provider’s stock worth $78,501,000 after acquiring an additional 45,309 shares in the last quarter. Vanguard Group Inc. increased its stake in Central Pacific Financial by 1.5% during the 3rd quarter. Vanguard Group Inc. now owns 2,970,174 shares of the financial services provider’s stock worth $78,501,000 after purchasing an additional 45,309 shares in the last quarter. Bank of New York Mellon Corp increased its stake in Central Pacific Financial by 3.7% during the 3rd quarter. Bank of New York Mellon Corp now owns 998,133 shares of the financial services provider’s stock worth $26,381,000 after purchasing an additional 35,858 shares in the last quarter. LSV Asset Management increased its stake in Central Pacific Financial by 11.5% during the 4th quarter. LSV Asset Management now owns 783,673 shares of the financial services provider’s stock worth $19,082,000 after purchasing an additional 80,600 shares in the last quarter. Finally, Renaissance Technologies LLC increased its stake in Central Pacific Financial by 14.7% during the 3rd quarter. Renaissance Technologies LLC now owns 624,753 shares of the financial services provider’s stock worth $16,512,000 after purchasing an additional 80,100 shares in the last quarter. 94.09% of the stock is owned by institutional investors and hedge funds.

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.

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