Short Interest in Central Pacific Financial Corp. (NYSE:CPF) Expands By 35.4%

Central Pacific Financial Corp. (NYSE:CPF) was the target of a large increase in short interest in September. As of September 30th, there was short interest totalling 656,500 shares, an increase of 35.4% from the September 15th total of 484,900 shares. Based on an average daily trading volume, of 234,900 shares, the short-interest ratio is presently 2.8 days. Approximately 2.5% of the shares of the stock are short sold.

Hedge Funds Weigh In On Central Pacific Financial

A number of institutional investors have recently bought and sold shares of CPF. CWM LLC increased its stake in shares of Central Pacific Financial by 221.9% during the second quarter. CWM LLC now owns 1,957 shares of the financial services provider’s stock valued at $41,000 after purchasing an additional 1,349 shares in the last quarter. Allspring Global Investments Holdings LLC raised its holdings in Central Pacific Financial by 660.9% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 2,488 shares of the financial services provider’s stock worth $49,000 after acquiring an additional 2,161 shares during the last quarter. USA Financial Formulas purchased a new stake in shares of Central Pacific Financial during the third quarter valued at $81,000. Central Pacific Bank Trust Division bought a new stake in Central Pacific Financial in the 1st quarter worth about $134,000. Finally, SG Americas Securities LLC purchased a new stake in shares of Central Pacific Financial during the 3rd quarter valued at about $183,000. 88.42% of the stock is owned by institutional investors.

Central Pacific Financial Price Performance

Shares of Central Pacific Financial stock traded up $0.57 on Tuesday, hitting $29.68. 216,403 shares of the company traded hands, compared to its average volume of 190,872. Central Pacific Financial has a 12-month low of $14.69 and a 12-month high of $30.22. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.30. The company has a market cap of $802.61 million, a P/E ratio of 14.43 and a beta of 1.13. The firm’s 50-day simple moving average is $27.26 and its 200 day simple moving average is $23.30.

Central Pacific Financial (NYSE:CPF) last announced its quarterly earnings results on Wednesday, July 31st. The financial services provider reported $0.58 earnings per share for the quarter, beating the consensus estimate of $0.48 by $0.10. Central Pacific Financial had a net margin of 16.44% and a return on equity of 11.36%. The business had revenue of $87.96 million during the quarter, compared to analysts’ expectations of $61.74 million. During the same quarter in the prior year, the company posted $0.53 EPS. Analysts expect that Central Pacific Financial will post 2.2 earnings per share for the current fiscal year.

Central Pacific Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Friday, August 30th were given a $0.26 dividend. The ex-dividend date was Friday, August 30th. This represents a $1.04 annualized dividend and a dividend yield of 3.50%. Central Pacific Financial’s dividend payout ratio is 50.73%.

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.