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

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

Institutional Trading of Central Pacific Financial

Several large investors have recently made changes to their positions in the company. nVerses Capital LLC acquired a new position in shares of Central Pacific Financial during the third quarter worth $50,000. CWM LLC increased its stake in shares of 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 buying an additional 1,349 shares during the period. Allspring Global Investments Holdings LLC raised its holdings in Central Pacific Financial by 660.9% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 2,488 shares of the financial services provider’s stock valued at $49,000 after buying an additional 2,161 shares during the last quarter. USA Financial Formulas acquired a new stake in Central Pacific Financial during the 3rd quarter worth approximately $81,000. Finally, SG Americas Securities LLC acquired a new position in Central Pacific Financial in the 3rd quarter valued at approximately $183,000. Institutional investors and hedge funds own 88.42% of the company’s stock.

Central Pacific Financial Stock Performance

Shares of NYSE:CPF traded up $0.15 on Friday, reaching $27.09. 172,314 shares of the company’s stock were exchanged, compared to its average volume of 191,713. The company has a fifty day moving average of $28.13 and a 200-day moving average of $24.11. Central Pacific Financial has a twelve month low of $16.27 and a twelve month high of $30.30. The company has a market capitalization of $733.06 million, a price-to-earnings ratio of 12.90 and a beta of 1.13. The company has a current ratio of 0.85, a quick ratio of 0.86 and a debt-to-equity ratio of 0.35.

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

Central Pacific Financial Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 29th will be given a dividend of $0.26 per share. The ex-dividend date of this dividend 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 49.52%.

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.