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

Central Pacific Financial Corp. (NYSE:CPF) saw a large increase in short interest during the month of October. As of October 31st, there was short interest totalling 737,500 shares, an increase of 5.5% from the October 15th total of 698,800 shares. Approximately 2.8% of the company’s stock are sold short. Based on an average trading volume of 229,500 shares, the short-interest ratio is currently 3.2 days.

Analysts Set New Price Targets

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

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of CPF. nVerses Capital LLC purchased a new stake in shares of Central Pacific Financial during the 3rd quarter valued at about $50,000. Quarry LP bought a new position in Central Pacific Financial in the third quarter worth approximately $53,000. CWM LLC boosted its stake in shares of Central Pacific Financial by 221.9% during the 2nd quarter. CWM LLC now owns 1,957 shares of the financial services provider’s stock worth $41,000 after acquiring an additional 1,349 shares during the last quarter. Allspring Global Investments Holdings LLC grew its position in shares of Central Pacific Financial by 660.9% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 2,488 shares of the financial services provider’s stock valued at $49,000 after acquiring an additional 2,161 shares during the period. Finally, USA Financial Formulas purchased a new stake in shares of Central Pacific Financial in the 3rd quarter worth $81,000. Institutional investors own 88.42% of the company’s stock.

Central Pacific Financial Stock Performance

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

Central Pacific Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 29th will be given a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 3.38%. The ex-dividend date of this dividend is Friday, November 29th. Central Pacific Financial’s dividend payout ratio (DPR) is presently 49.52%.

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.