Short Interest in Central Pacific Financial Corp. (NYSE:CPF) Drops By 32.7%

Central Pacific Financial Corp. (NYSE:CPF) was the recipient of a large drop in short interest in the month of February. As of February 28th, there was short interest totalling 513,200 shares, a drop of 32.7% from the February 13th total of 762,300 shares. Based on an average daily trading volume, of 214,200 shares, the short-interest ratio is currently 2.4 days. Approximately 1.9% of the shares of the stock are short sold.

Central Pacific Financial Price Performance

NYSE CPF traded up $0.04 on Monday, reaching $27.15. 124,179 shares of the stock traded hands, compared to its average volume of 187,481. Central Pacific Financial has a 12 month low of $18.35 and a 12 month high of $33.25. The company has a market cap of $736.20 million, a price-to-earnings ratio of 13.78 and a beta of 1.17. The firm’s fifty day simple moving average is $28.46 and its 200 day simple moving average is $28.94. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.35.

Central Pacific Financial (NYSE:CPF) last announced its earnings results on Wednesday, January 29th. The financial services provider reported $0.70 earnings per share for the quarter, beating the consensus estimate of $0.61 by $0.09. Central Pacific Financial had a return on equity of 12.03% and a net margin of 15.49%. As a group, research analysts predict that Central Pacific Financial will post 2.75 EPS for the current fiscal year.

Central Pacific Financial Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Friday, February 28th will be issued a $0.27 dividend. This is an increase from Central Pacific Financial’s previous quarterly dividend of $0.26. This represents a $1.08 dividend on an annualized basis and a dividend yield of 3.98%. The ex-dividend date of this dividend is Friday, February 28th. Central Pacific Financial’s payout ratio is presently 54.82%.

Analyst Upgrades and Downgrades

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

Hedge Funds Weigh In On Central Pacific Financial

A number of hedge funds have recently modified their holdings of the stock. SG Americas Securities LLC boosted its position in shares of Central Pacific Financial by 7.2% in the 4th quarter. SG Americas Securities LLC now owns 6,643 shares of the financial services provider’s stock valued at $193,000 after purchasing an additional 448 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Central Pacific Financial by 3.4% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,179 shares of the financial services provider’s stock worth $441,000 after acquiring an additional 493 shares in the last quarter. Algert Global LLC raised its holdings in shares of Central Pacific Financial by 1.4% during the third quarter. Algert Global LLC now owns 41,936 shares of the financial services provider’s stock valued at $1,238,000 after acquiring an additional 570 shares during the period. Sterling Capital Management LLC lifted its position in shares of Central Pacific Financial by 4.4% in the 4th quarter. Sterling Capital Management LLC now owns 17,969 shares of the financial services provider’s stock valued at $522,000 after acquiring an additional 762 shares in the last quarter. Finally, Diversified Trust Co grew its position in Central Pacific Financial by 9.8% during the 4th quarter. Diversified Trust Co now owns 8,787 shares of the financial services provider’s stock worth $255,000 after purchasing an additional 783 shares in the last quarter. 88.42% of the stock is currently owned by institutional investors and hedge funds.

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.