Short Interest in Central Pacific Financial Corp. (NYSE:CPF) Grows By 5.5%

Central Pacific Financial Corp. (NYSE:CPF) was the recipient of a significant growth in short interest in October. As of October 31st, there was short interest totalling 737,500 shares, a growth of 5.5% from the October 15th total of 698,800 shares. Currently, 2.8% of the company’s stock are sold short. Based on an average daily trading volume, of 229,500 shares, the days-to-cover ratio is presently 3.2 days.

Institutional Investors Weigh In On Central Pacific Financial

A number of hedge funds have recently added to or reduced their stakes in the stock. Barclays PLC grew its stake in shares of Central Pacific Financial by 84.3% during the third quarter. Barclays PLC now owns 58,493 shares of the financial services provider’s stock valued at $1,726,000 after purchasing an additional 26,755 shares during the last quarter. Geode Capital Management LLC lifted its position in Central Pacific Financial by 4.0% during the 3rd quarter. Geode Capital Management LLC now owns 640,369 shares of the financial services provider’s stock valued at $18,901,000 after purchasing an additional 24,686 shares during the period. XTX Topco Ltd acquired a new stake in shares of Central Pacific Financial during the 3rd quarter worth approximately $422,000. Zacks Investment Management acquired a new position in Central Pacific Financial in the third quarter valued at approximately $573,000. Finally, Jane Street Group LLC boosted its stake in Central Pacific Financial by 62.7% in the third quarter. Jane Street Group LLC now owns 40,463 shares of the financial services provider’s stock valued at $1,194,000 after acquiring an additional 15,599 shares during the last quarter. Institutional investors own 88.42% of the company’s stock.

Wall Street Analyst Weigh In

Separately, StockNews.com upgraded shares of Central Pacific Financial from a “sell” rating to a “hold” rating in a research note on Tuesday, November 12th.

Central Pacific Financial Price Performance

CPF traded down $0.19 during trading on Tuesday, hitting $30.77. The company’s stock had a trading volume of 127,294 shares, compared to its average volume of 194,115. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.29. The stock has a market capitalization of $832.94 million, a price-to-earnings ratio of 14.65 and a beta of 1.14. The firm’s 50 day moving average price is $28.74 and its two-hundred day moving average price is $25.04. Central Pacific Financial has a 12 month low of $16.95 and a 12 month high of $32.21.

Central Pacific Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 29th will be issued a $0.26 dividend. 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 3.38%. 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.