Central Pacific Financial (NYSE:CPF) Trading Down 5.7% – Time to Sell?

Shares of Central Pacific Financial Corp. (NYSE:CPF) traded down 5.7% on Wednesday . The stock traded as low as $27.36 and last traded at $27.48. 48,803 shares were traded during mid-day trading, a decline of 74% from the average session volume of 190,474 shares. The stock had previously closed at $29.15.

Central Pacific Financial Stock Performance

The company has a 50-day moving average price of $28.11 and a two-hundred day moving average price of $24.07. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.30. The stock has a market capitalization of $737.16 million, a P/E ratio of 14.22 and a beta of 1.13.

Central Pacific Financial (NYSE:CPF) last issued its earnings results on Wednesday, July 31st. The financial services provider reported $0.58 EPS for the quarter, beating the consensus estimate of $0.48 by $0.10. The company had revenue of $87.96 million during the quarter, compared to the consensus estimate of $61.74 million. Central Pacific Financial had a return on equity of 11.36% and a net margin of 16.44%. During the same period last year, the business posted $0.53 EPS. On average, equities analysts forecast that Central Pacific Financial Corp. will post 2.2 earnings per share for the current year.

Institutional Trading of Central Pacific Financial

Several large investors have recently made changes to their positions in CPF. CWM LLC grew its stake in shares of Central Pacific Financial by 221.9% in the 2nd quarter. CWM LLC now owns 1,957 shares of the financial services provider’s stock valued at $41,000 after buying an additional 1,349 shares during the period. Allspring Global Investments Holdings LLC grew its stake in shares of Central Pacific Financial by 660.9% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 2,488 shares of the financial services provider’s stock valued at $49,000 after buying an additional 2,161 shares during the period. nVerses Capital LLC acquired a new stake in shares of Central Pacific Financial in the 3rd quarter valued at about $50,000. USA Financial Formulas acquired a new stake in shares of Central Pacific Financial in the 3rd quarter valued at about $81,000. Finally, Central Pacific Bank Trust Division acquired a new position in Central Pacific Financial during the 1st quarter valued at about $134,000. 88.42% of the stock is currently owned by institutional investors and hedge funds.

Central Pacific Financial Company Profile

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.