Central Pacific Financial (CPF) Surges 6.2%: Is This an Indication of Further Gains?

Central Pacific Financial (CPF) shares rallied 6.2% in the last trading session to close at $29.51. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 1$29.55 on Monday. The recent 50 basis points interest rate cut by the Federal Reserve led to an optimistic investor sentiment towards banks. As rates go down, loan demand is expected to ...