CPB Inc. (NYSE:CPF) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued to investors on Friday.

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. “

Several other research firms have also weighed in on CPF. BidaskClub lowered shares of CPB from a “sell” rating to a “strong sell” rating in a research note on Friday, July 28th. Piper Jaffray Companies reiterated a “hold” rating and issued a $32.50 price objective on shares of CPB in a research note on Friday, July 14th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and one has given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $32.50.

Shares of CPB (NYSE:CPF) traded up $0.04 during trading hours on Friday, hitting $31.09. 87,462 shares of the company traded hands, compared to its average volume of 103,057. The firm has a market cap of $948.23 million, a PE ratio of 19.75 and a beta of 1.18.

CPB (NYSE:CPF) last released its quarterly earnings data on Wednesday, October 25th. The financial services provider reported $0.39 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.41 by ($0.02). The company had revenue of $51.69 million during the quarter, compared to analyst estimates of $52.43 million. CPB had a net margin of 22.45% and a return on equity of 9.64%. The firm’s quarterly revenue was up 3.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.37 EPS. analysts expect that CPB will post 1.64 earnings per share for the current fiscal year.

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A number of institutional investors have recently added to or reduced their stakes in CPF. UBS Asset Management Americas Inc. increased its stake in CPB by 102.7% in the 1st quarter. UBS Asset Management Americas Inc. now owns 13,578 shares of the financial services provider’s stock valued at $415,000 after buying an additional 6,880 shares during the period. Teachers Advisors LLC increased its stake in CPB by 27.9% in the 1st quarter. Teachers Advisors LLC now owns 102,650 shares of the financial services provider’s stock valued at $3,135,000 after buying an additional 22,375 shares during the period. California Public Employees Retirement System increased its stake in CPB by 0.9% in the 1st quarter. California Public Employees Retirement System now owns 157,400 shares of the financial services provider’s stock valued at $4,807,000 after buying an additional 1,400 shares during the period. Legal & General Group Plc increased its stake in shares of CPB by 0.8% during the 1st quarter. Legal & General Group Plc now owns 51,154 shares of the financial services provider’s stock worth $1,562,000 after purchasing an additional 418 shares during the last quarter. Finally, Vanguard Group Inc. increased its stake in shares of CPB by 3.4% during the 1st quarter. Vanguard Group Inc. now owns 3,154,860 shares of the financial services provider’s stock worth $96,350,000 after purchasing an additional 103,869 shares during the last quarter. Hedge funds and other institutional investors own 91.39% of the company’s stock.

About CPB

Central Pacific Financial Corp. is the bank holding company of Central Pacific Bank (the Bank). The Company’s segments include Banking Operations, Treasury and All Others. The Banking Operations segment includes construction and real estate development lending, commercial lending, residential mortgage lending, consumer lending, trust services, retail brokerage services and its retail branch offices, which provide a range of deposit and loan products, as well as various other banking services.

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