Central Pacific Financial Corp. (NYSE:CPF) Sees Significant Growth in Short Interest

Central Pacific Financial Corp. (NYSE:CPF) was the target of a large growth in short interest in the month of October. As of October 15th, there was short interest totalling 698,800 shares, a growth of 6.4% from the September 30th total of 656,500 shares. Currently, 2.7% of the company’s shares are short sold. Based on an average daily volume of 231,400 shares, the days-to-cover ratio is presently 3.0 days.

Central Pacific Financial Trading Up 0.6 %

Shares of CPF traded up $0.15 during trading hours on Friday, hitting $27.09. 172,314 shares of the stock were exchanged, compared to its average volume of 191,713. The firm has a market capitalization of $733.06 million, a P/E ratio of 12.90 and a beta of 1.13. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.85 and a quick ratio of 0.86. Central Pacific Financial has a fifty-two week low of $16.27 and a fifty-two week high of $30.30. The business has a 50-day moving average of $28.13 and a 200-day moving average of $24.11.

Central Pacific Financial (NYSE:CPF) last posted its quarterly earnings data on Wednesday, October 30th. The financial services provider reported $0.58 earnings per share for the quarter, topping the consensus estimate of $0.56 by $0.02. Central Pacific Financial had a return on equity of 11.44% and a net margin of 16.10%. The firm had revenue of $66.59 million during the quarter, compared to analyst estimates of $65.22 million. On average, research analysts expect that Central Pacific Financial will post 2.2 EPS for the current year.

Central Pacific Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 29th will be paid a $0.26 dividend. The ex-dividend date is Friday, November 29th. This represents a $1.04 annualized dividend and a dividend yield of 3.84%. Central Pacific Financial’s dividend payout ratio is currently 49.52%.

Institutional Investors Weigh In On Central Pacific Financial

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Panagora Asset Management Inc. increased its stake in Central Pacific Financial by 0.6% in the second quarter. Panagora Asset Management Inc. now owns 152,349 shares of the financial services provider’s stock valued at $3,230,000 after purchasing an additional 949 shares in the last quarter. Price T Rowe Associates Inc. MD increased its stake in Central Pacific Financial by 4.2% in the first quarter. Price T Rowe Associates Inc. MD now owns 25,507 shares of the financial services provider’s stock valued at $504,000 after purchasing an additional 1,020 shares in the last quarter. CWM LLC increased its stake in Central Pacific Financial by 221.9% in the second quarter. CWM LLC now owns 1,957 shares of the financial services provider’s stock valued at $41,000 after purchasing an additional 1,349 shares in the last quarter. nVerses Capital LLC bought a new stake in shares of Central Pacific Financial during the third quarter worth about $50,000. Finally, Mirae Asset Global Investments Co. Ltd. increased its position in shares of Central Pacific Financial by 12.0% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 16,490 shares of the financial services provider’s stock worth $458,000 after acquiring an additional 1,769 shares in the last quarter. 88.42% of the stock is owned by institutional investors.

Central Pacific Financial Company Profile

Central Pacific Financial Corp. operates as the bank holding company for Central Pacific Bank that provides a range of commercial banking products and services to businesses, professionals, and individuals in the United States. It offers various deposit products and services, including checking, savings and time deposits, cash management and digital banking, trust, and retail brokerage services, as well as money market accounts and certificates of deposit.