NEW YORK ( TheStreet) -- California First National Bancorp (Nasdaq: CFNB) has been downgraded by TheStreet Ratings from buy to hold. The company's strengths can be seen in multiple areas, such as its largely solid financial position with reasonable debt levels by most measures, expanding profit margins and increase in stock price during the past year. However, as a counter to these strengths, we find that the company's return on equity has been disappointing.

California First National Bancorp operates as the holding company for California First Leasing Corp. and California First National Bank that engage in leasing and banking activities in the United States. The company has a P/E ratio of 16.4, equal to the average banking industry P/E ratio and below the S&P 500 P/E ratio of 23.4. California First has a market cap of $151.1 million and is part of the financial sector and banking industry. The stock last closed at $14.72 and the average volume of shares traded for California First has been 5,100 shares per day over the past 30 days. Shares are up 1% year to date as of the close of trading on Tuesday.
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