Central Pacific Financial (NYSE:CPF) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Tuesday. The brokerage currently has a $30.00 price target on the financial services provider’s stock. Zacks Investment Research‘s price target would indicate a potential upside of 11.90% from the stock’s previous close.

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 downgraded Central Pacific Financial from a “hold” rating to a “sell” rating in a report on Monday, June 11th.

NYSE CPF opened at $26.81 on Tuesday. Central Pacific Financial has a one year low of $26.78 and a one year high of $33.15. The stock has a market capitalization of $800.32 million, a P/E ratio of 17.07 and a beta of 1.03. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.19.

Central Pacific Financial (NYSE:CPF) last released its quarterly earnings data on Wednesday, July 25th. The financial services provider reported $0.48 EPS for the quarter, topping the consensus estimate of $0.47 by $0.01. Central Pacific Financial had a return on equity of 10.54% and a net margin of 19.71%. The company had revenue of $52.30 million during the quarter, compared to the consensus estimate of $52.45 million. sell-side analysts expect that Central Pacific Financial will post 1.94 EPS for the current year.

In other Central Pacific Financial news, EVP Arnold D. Martines sold 1,080 shares of the business’s stock in a transaction dated Friday, August 3rd. The stock was sold at an average price of $27.99, for a total transaction of $30,229.20. Following the completion of the sale, the executive vice president now directly owns 24 shares in the company, valued at approximately $671.76. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 4.30% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in CPF. Schwab Charles Investment Management Inc. grew its stake in shares of Central Pacific Financial by 17.4% during the 1st quarter. Schwab Charles Investment Management Inc. now owns 220,435 shares of the financial services provider’s stock valued at $6,274,000 after purchasing an additional 32,680 shares during the period. KBC Group NV lifted its position in shares of Central Pacific Financial by 20.6% during the 1st quarter. KBC Group NV now owns 44,648 shares of the financial services provider’s stock valued at $1,271,000 after buying an additional 7,621 shares in the last quarter. Northern Trust Corp lifted its position in shares of Central Pacific Financial by 0.7% during the 1st quarter. Northern Trust Corp now owns 465,355 shares of the financial services provider’s stock valued at $13,244,000 after buying an additional 3,160 shares in the last quarter. California Public Employees Retirement System lifted its position in shares of Central Pacific Financial by 4.1% during the 1st quarter. California Public Employees Retirement System now owns 161,954 shares of the financial services provider’s stock valued at $4,609,000 after buying an additional 6,351 shares in the last quarter. Finally, Citigroup Inc. lifted its position in shares of Central Pacific Financial by 58.0% during the 1st quarter. Citigroup Inc. now owns 24,360 shares of the financial services provider’s stock valued at $693,000 after buying an additional 8,943 shares in the last quarter. Institutional investors and hedge funds own 92.20% of the company’s stock.

About Central Pacific Financial

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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