Central Pacific Financial Corp. (NYSE:CPF) Sees Large Growth in Short Interest

Central Pacific Financial Corp. (NYSE:CPFGet Free Report) was the recipient of a significant increase in short interest in January. As of January 15th, there was short interest totalling 577,700 shares, an increase of 33.7% from the December 31st total of 432,000 shares. Based on an average daily trading volume, of 231,600 shares, the days-to-cover ratio is presently 2.5 days. Approximately 2.2% of the company’s shares are short sold.

Institutional Trading of Central Pacific Financial

Hedge funds have recently modified their holdings of the stock. nVerses Capital LLC acquired a new position in Central Pacific Financial in the third quarter valued at approximately $50,000. Quarry LP purchased a new position in shares of Central Pacific Financial during the third quarter worth about $53,000. USA Financial Formulas purchased a new stake in shares of Central Pacific Financial in the 3rd quarter valued at about $81,000. CWM LLC boosted its position in shares of Central Pacific Financial by 77.7% in the 3rd quarter. CWM LLC now owns 3,477 shares of the financial services provider’s stock valued at $103,000 after purchasing an additional 1,520 shares during the period. Finally, SG Americas Securities LLC purchased a new position in Central Pacific Financial during the 3rd quarter worth approximately $183,000. 88.42% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, StockNews.com cut Central Pacific Financial from a “hold” rating to a “sell” rating in a report on Tuesday.

Check Out Our Latest Stock Analysis on CPF

Central Pacific Financial Trading Up 5.0 %

Shares of NYSE CPF traded up $1.41 during mid-day trading on Thursday, reaching $29.41. 136,058 shares of the company’s stock were exchanged, compared to its average volume of 221,359. The company’s 50-day moving average is $29.47 and its 200-day moving average is $28.19. Central Pacific Financial has a 52-week low of $18.00 and a 52-week high of $33.25. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.85 and a current ratio of 0.85. The firm has a market capitalization of $796.02 million, a price-to-earnings ratio of 14.00 and a beta of 1.19.

Central Pacific Financial (NYSE:CPFGet Free Report) last issued its quarterly earnings data on Wednesday, January 29th. The financial services provider reported $0.70 earnings per share for the quarter, beating analysts’ consensus estimates of $0.61 by $0.09. Central Pacific Financial had a return on equity of 11.44% and a net margin of 16.10%. Analysts expect that Central Pacific Financial will post 2.29 EPS for the current fiscal year.

Central Pacific Financial Company Profile

(Get Free Report)

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.

Further Reading

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