The stock of Central Pacific Financial Corp. (NYSE:CPF) hit a new 52-week high and has $35.59 target or 30.00% above today’s $27.38 share price. The 6 months bullish chart indicates low risk for the $844.27M company. The 1-year high was reported on Nov, 9 by Barchart.com. If the $35.59 price target is reached, the company will be worth $253.28 million more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 57,289 shares traded hands. Central Pacific Financial Corp. (NYSE:CPF) has risen 28.00% since April 7, 2016 and is uptrending. It has outperformed by 23.22% the S&P500.
Central Pacific Financial Corp. (NYSE:CPF) Ratings Coverage
Out of 4 analysts covering Central Pacific Financial Corp. (NYSE:CPF), 2 rate it a “Buy”, 0 “Sell”, while 2 “Hold”. This means 50% are positive. Central Pacific Financial Corp. has been the topic of 5 analyst reports since August 10, 2015 according to StockzIntelligence Inc. The stock has “Hold” rating given by Zacks on Monday, August 10. Sandler O’Neill upgraded the shares of CPF in a report on Monday, September 21 to “Buy” rating. The stock of Central Pacific Financial Corp. (NYSE:CPF) earned “Neutral” rating by Piper Jaffray on Friday, July 8. The firm earned “Outperform” rating on Tuesday, August 2 by Raymond James. The firm has “Neutral” rating by Compass Point given on Thursday, August 11.
According to Zacks Investment Research, “Central Pacific Financial Corp. is a Hawaii-based bank holding company. Central Pacific Bank, its subsidiary, is Hawaii’s third largest commercial bank.”
Insitutional Activity: The institutional sentiment increased to 1.31 in 2016 Q2. Its up 0.08, from 1.23 in 2016Q1. The ratio improved, as 12 funds sold all Central Pacific Financial Corp. shares owned while 43 reduced positions. 17 funds bought stakes while 55 increased positions. They now own 28.44 million shares or 1.61% less from 28.91 million shares in 2016Q1.
Moreover, Convergence Invest Prns Limited Liability Company has 0.27% invested in Central Pacific Financial Corp. (NYSE:CPF) for 83,932 shares. Aperio Gru Limited Liability Corp reported 9,960 shares or 0% of all its holdings. Tfs Cap Limited Liability has 0.27% invested in the company for 62,290 shares. Independent Portfolio Consultants Incorporated reported 540 shares or 0% of all its holdings. First Citizens National Bank & Trust Trust has 22,771 shares for 0.05% of their US portfolio. Moreover, California State Teachers Retirement Sys has 0% invested in Central Pacific Financial Corp. (NYSE:CPF) for 63,491 shares. Federated Pa last reported 11,675 shares in the company. Public Sector Pension Investment Board holds 0.01% of its portfolio in Central Pacific Financial Corp. (NYSE:CPF) for 21,600 shares. Moreover, Blackrock Fund Advisors has 0.01% invested in Central Pacific Financial Corp. (NYSE:CPF) for 1.96M shares. Moreover, Balyasny Asset Management Ltd Limited Liability Company has 0% invested in Central Pacific Financial Corp. (NYSE:CPF) for 22,120 shares. Aqr Mgmt Limited Liability reported 228,965 shares or 0.01% of all its holdings. Polaris Management Ltd Com holds 0.17% of its portfolio in Central Pacific Financial Corp. (NYSE:CPF) for 83,883 shares. The Australia-based Macquarie Group Inc Ltd has invested 0% in Central Pacific Financial Corp. (NYSE:CPF). The Pennsylvania-based Sei Company has invested 0% in Central Pacific Financial Corp. (NYSE:CPF). Banc Funds Ltd Liability has 0.86% invested in the company for 621,399 shares.
Insider Transactions: Since May 20, 2016, the stock had 6 insider purchases, and 3 insider sales for $515,433 net activity. Shares for $36,571 were sold by Mizumoto Lance A.. On Wednesday, August 3 the insider Rose Crystal bought $58,878. 2,200 shares were bought by FRY EARL E, worth $54,046. CAMP CHRISTINE H H bought $51,565 worth of stock or 2,100 shares. Shares for $86,181 were bought by Ota Saedene K on Wednesday, August 3. 4,100 shares were bought by MATSUMOTO COLBERT M, worth $100,793. On Wednesday, August 3 the insider Kamitaki Wayne K bought $85,899.
More notable recent Central Pacific Financial Corp. (NYSE:CPF) news were published by: Prnewswire.com which released: “Central Pacific Financial Corp. Reports $11.5 Million Third Quarter Earnings” on October 27, 2016, also Prnewswire.com with their article: “Central Pacific Financial Corp. Conference Call To Discuss Third Quarter 2016 …” published on October 14, 2016, Reuters.com published: “BRIEF-Central Pacific Financial Corp reports $11.5 million third quarter e…” on October 27, 2016. More interesting news about Central Pacific Financial Corp. (NYSE:CPF) were released by: Prnewswire.com and their article: “Central Pacific Financial Corp. Conference Call To Discuss Second Quarter 2016 …” published on April 28, 2016 as well as Prnewswire.com‘s news article titled: “Central Pacific Financial Corp. Conference Call To Discuss Fourth Quarter 2015 …” with publication date: January 16, 2016.
CPF Company Profile
Central Pacific Financial Corp., incorporated on February 1, 1982, serves as the bank holding firm for its bank subsidiary, Central Pacific Bank (the bank). The Company’s divisions include Banking Operations, Treasury and All Others. The Banking Operations segment includes construction and commercial real estate lending, commercial lending, residential mortgage lending, consumer lending, trust services, retail brokerage services, and the Company’s retail branch offices, which provide a range of deposit and loan products, as well as various other banking services. The Treasury segment is responsible for managing the Company’s investment securities portfolio and wholesale funding activities. The All Others segment includes activities, such as electronic banking, data processing and management of bank owned properties. The Firm offers a range of banking services and products to businesses, professionals and individuals. The Firm provides its clients with an array of loan products, including residential mortgage loans commercial and consumer loans and lines of credit commercial real estate loans and construction loans. The Company’s other subsidiaries include CPB Capital Trust II, CPB Statutory Trust III, CPB Capital Trust IV and CPB Statutory Trust V.
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