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

Central Pacific Financial Corp. (NYSE:CPF) saw a large increase in short interest in 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. Based on an average daily trading volume, of 231,400 shares, the short-interest ratio is currently 3.0 days. Approximately 2.7% of the company’s stock are sold short.

Central Pacific Financial Stock Up 0.6 %

NYSE:CPF traded up $0.15 on Friday, reaching $27.09. 172,314 shares of the stock traded hands, compared to its average volume of 191,713. The company has a current ratio of 0.85, a quick ratio of 0.86 and a debt-to-equity ratio of 0.35. The company has a market capitalization of $733.06 million, a price-to-earnings ratio of 12.90 and a beta of 1.13. Central Pacific Financial has a 12 month low of $16.27 and a 12 month high of $30.30. The company’s fifty day simple moving average is $28.13 and its 200 day simple moving average is $24.11.

Central Pacific Financial (NYSE:CPF) last posted its earnings results on Wednesday, October 30th. The financial services provider reported $0.58 earnings per share (EPS) for the quarter, beating the consensus estimate 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 business had revenue of $66.59 million for the quarter, compared to analysts’ expectations of $65.22 million. Equities analysts predict that Central Pacific Financial will post 2.2 EPS for the current fiscal 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 given a dividend of $0.26 per share. The ex-dividend date of this dividend is Friday, November 29th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 3.84%. Central Pacific Financial’s payout ratio is currently 49.52%.

Hedge Funds Weigh In On Central Pacific Financial

Several large investors have recently added to or reduced their stakes in the company. nVerses Capital LLC purchased a new stake in Central Pacific Financial during the 3rd quarter valued at approximately $50,000. CWM LLC lifted its stake in Central Pacific Financial by 221.9% in the 2nd quarter. CWM LLC now owns 1,957 shares of the financial services provider’s stock worth $41,000 after purchasing an additional 1,349 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in shares of Central Pacific Financial by 660.9% during 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 purchasing an additional 2,161 shares during the last quarter. USA Financial Formulas purchased a new position in shares of Central Pacific Financial during the third quarter valued at about $81,000. Finally, SG Americas Securities LLC bought a new stake in shares of Central Pacific Financial in the third quarter worth about $183,000. Hedge funds and other 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.