Central Pacific Financial Corp. (NYSE:CPF) Short Interest Up 11.0% in November

Central Pacific Financial Corp. (NYSE:CPF) was the target of a significant growth in short interest during the month of November. As of November 30th, there was short interest totalling 633,100 shares, a growth of 11.0% from the November 15th total of 570,400 shares. Currently, 2.4% of the company’s stock are short sold. Based on an average daily trading volume, of 221,300 shares, the days-to-cover ratio is presently 2.9 days.

Central Pacific Financial Stock Down 0.2 %

Shares of NYSE:CPF opened at $30.91 on Friday. The stock has a fifty day simple moving average of $30.09 and a two-hundred day simple moving average of $26.41. The stock has a market capitalization of $836.73 million, a price-to-earnings ratio of 14.72 and a beta of 1.18. Central Pacific Financial has a 12-month low of $18.00 and a 12-month high of $33.25. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.29.

Central Pacific Financial Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 29th will be issued a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a dividend yield of 3.36%. The ex-dividend date of this dividend is Friday, November 29th. Central Pacific Financial’s payout ratio is 49.52%.

Wall Street Analyst Weigh In

Separately, StockNews.com cut Central Pacific Financial from a “hold” rating to a “sell” rating in a research note on Tuesday, December 10th.

Institutional Trading of Central Pacific Financial

Institutional investors and hedge funds have recently modified their holdings of the business. Quest Partners LLC increased its holdings in shares of Central Pacific Financial by 144.4% in the 3rd quarter. Quest Partners LLC now owns 32,083 shares of the financial services provider’s stock worth $947,000 after purchasing an additional 18,955 shares in the last quarter. Assenagon Asset Management S.A. grew its holdings in shares of Central Pacific Financial by 143.4% in the third quarter. Assenagon Asset Management S.A. now owns 456,132 shares of the financial services provider’s stock worth $13,460,000 after acquiring an additional 268,719 shares during the period. Acadian Asset Management LLC grew its holdings in shares of Central Pacific Financial by 16.6% in the second quarter. Acadian Asset Management LLC now owns 539,882 shares of the financial services provider’s stock worth $11,442,000 after acquiring an additional 76,957 shares during the period. nVerses Capital LLC bought a new stake in shares of Central Pacific Financial in the third quarter worth $50,000. Finally, LSV Asset Management grew its holdings in shares of Central Pacific Financial by 10.7% in the second quarter. LSV Asset Management now owns 663,230 shares of the financial services provider’s stock worth $14,060,000 after acquiring an additional 63,862 shares during the period. Institutional investors own 88.42% of the company’s stock.

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.