Central Pacific Financial Corp. (NYSE:CPF) Short Interest Update

Central Pacific Financial Corp. (NYSE:CPF) was the target of a significant growth in short interest in January. As of January 15th, there was short interest totalling 577,700 shares, a growth of 33.7% from the December 31st total of 432,000 shares. Currently, 2.2% of the shares of the stock are sold short. Based on an average daily volume of 231,600 shares, the days-to-cover ratio is currently 2.5 days.

Institutional Investors Weigh In On Central Pacific Financial

Several hedge funds and other institutional investors have recently made changes to their positions in CPF. Basswood Capital Management L.L.C. purchased a new stake in shares of Central Pacific Financial during the 3rd quarter valued at about $15,455,000. Assenagon Asset Management S.A. grew its stake in shares of Central Pacific Financial by 143.4% during the 3rd quarter. Assenagon Asset Management S.A. now owns 456,132 shares of the financial services provider’s stock valued at $13,460,000 after acquiring an additional 268,719 shares during the period. Dimensional Fund Advisors LP grew its stake in shares of Central Pacific Financial by 5.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,404,043 shares of the financial services provider’s stock valued at $29,765,000 after acquiring an additional 77,868 shares during the period. FMR LLC grew its stake in shares of Central Pacific Financial by 24.4% during the 3rd quarter. FMR LLC now owns 295,359 shares of the financial services provider’s stock valued at $8,716,000 after acquiring an additional 58,009 shares during the period. Finally, Barclays PLC grew its stake in shares of Central Pacific Financial by 84.3% during the 3rd quarter. Barclays PLC now owns 58,493 shares of the financial services provider’s stock valued at $1,726,000 after acquiring an additional 26,755 shares during the period. Hedge funds and other institutional investors own 88.42% of the company’s stock.

Central Pacific Financial Stock Performance

NYSE:CPF traded up $0.43 during mid-day trading on Friday, reaching $29.87. The company’s stock had a trading volume of 292,922 shares, compared to its average volume of 203,847. Central Pacific Financial has a 12-month low of $18.00 and a 12-month high of $33.25. The firm’s fifty day moving average price is $29.38 and its two-hundred day moving average price is $28.25. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.29. The stock has a market cap of $808.43 million, a P/E ratio of 15.16 and a beta of 1.19.

Central Pacific Financial (NYSE:CPF) last issued its earnings results on Wednesday, January 29th. The financial services provider reported $0.70 earnings per share for the quarter, topping analysts’ consensus estimates of $0.61 by $0.09. Central Pacific Financial had a return on equity of 12.12% and a net margin of 15.49%. On average, equities analysts forecast that Central Pacific Financial will post 2.55 EPS for the current fiscal year.

Central Pacific Financial Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Friday, February 28th will be given a dividend of $0.27 per share. The ex-dividend date of this dividend is Friday, February 28th. This represents a $1.08 annualized dividend and a dividend yield of 3.62%. This is a positive change from Central Pacific Financial’s previous quarterly dividend of $0.26. Central Pacific Financial’s dividend payout ratio is presently 54.82%.

Wall Street Analysts Forecast Growth

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

About Central Pacific Financial

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.