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 trading volume of 214,200 shares, the days-to-cover ratio is presently 2.4 days. Currently, 1.9% of the company’s stock are sold short.

Analysts Set New Price Targets

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.

Central Pacific Financial Stock Up 0.1 %

CPF stock traded up $0.04 during mid-day trading on Monday, hitting $27.15. The stock had a trading volume of 124,179 shares, compared to its average volume of 187,481. Central Pacific Financial has a 1-year low of $18.35 and a 1-year high of $33.25. The company has a fifty day moving average of $28.46 and a 200 day moving average of $28.94. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.35. The stock has a market capitalization of $736.20 million, a price-to-earnings ratio of 13.78 and a beta of 1.17.

Central Pacific Financial (NYSE:CPF) last released its quarterly earnings data on Wednesday, January 29th. The financial services provider reported $0.70 EPS for the quarter, topping analysts’ consensus estimates of $0.61 by $0.09. Central Pacific Financial had a return on equity of 12.03% and a net margin of 15.49%. On average, equities analysts expect that Central Pacific Financial will post 2.75 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 issued a dividend of $0.27 per share. The ex-dividend date of this dividend is Friday, February 28th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 3.98%. This is an increase from Central Pacific Financial’s previous quarterly dividend of $0.26. Central Pacific Financial’s dividend payout ratio (DPR) is currently 54.82%.

Institutional Investors Weigh In On Central Pacific Financial

Large investors have recently bought and sold shares of the business. Picton Mahoney Asset Management bought a new position in Central Pacific Financial during the fourth quarter valued at about $30,000. SBI Securities Co. Ltd. acquired a new position in shares of Central Pacific Financial during the 4th quarter valued at about $31,000. Quarry LP bought a new position in shares of Central Pacific Financial in the 3rd quarter valued at approximately $53,000. Quantbot Technologies LP acquired a new stake in Central Pacific Financial in the 4th quarter worth approximately $55,000. Finally, KLP Kapitalforvaltning AS bought a new stake in Central Pacific Financial during the fourth quarter worth approximately $168,000. 88.42% of the stock is currently owned by institutional investors.

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.