Posted at 11:37 a.m., Thursday, October 18, 2007
Hawai'i index falls again, led by Central Pacific again
Advertiser Staff
The Bloomberg-Honolulu Advertiser Hawai'i Index fell for a seventh day as Central Pacific Financial fell again to new three-year lows.The 11-member stock index fell 0.62 points to 98.05 as five stocks declined, four gained and two were unchanged
Central Paciic Financial fell 82 cents, or 3.3 percent, to $24.15, or its lowest since June 2004. Late in September Keefe, Bruyette & Woods analyst Frederick Cannon downgraded the stock to "underperform" from "market perform."
The company also began offering earlier this month checking accounts that carry a 4.55 percent annual interest rate. The offer is an effort to attract more customers, but is costly. The national interest rate average for checking accounts at traditional banks is less than 1 percent.
Alexander & Baldwin fell 48 cents to $50.90.
