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

Central Pacific Financial Corp. (NYSE:CPF) saw a large growth in short interest in October. As of October 15th, there was short interest totalling 698,800 shares, a growth of 6.4% from the September 30th total of 656,500 shares. Currently, 2.7% of the shares of the company are short sold. Based on an average trading volume of 231,400 shares, the days-to-cover ratio is presently 3.0 days.

Central Pacific Financial Price Performance

Shares of NYSE CPF traded up $0.15 during midday trading on Friday, reaching $27.09. The stock had a trading volume of 172,314 shares, compared to its average volume of 191,713. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.86 and a current ratio of 0.85. Central Pacific Financial has a 12-month low of $16.27 and a 12-month high of $30.30. The stock has a 50-day moving average of $28.13 and a 200-day moving average of $24.11. The company has a market capitalization of $733.06 million, a price-to-earnings ratio of 12.90 and a beta of 1.13.

Central Pacific Financial (NYSE:CPF) last announced its quarterly earnings results on Wednesday, October 30th. The financial services provider reported $0.58 EPS for the quarter, topping the consensus estimate of $0.56 by $0.02. Central Pacific Financial had a net margin of 16.10% and a return on equity of 11.44%. The business had revenue of $66.59 million for the quarter, compared to analysts’ expectations of $65.22 million. As a group, research analysts anticipate that Central Pacific Financial will post 2.2 EPS for the current fiscal year.

Central Pacific Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 29th will be paid a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a yield of 3.84%. The ex-dividend date is Friday, November 29th. Central Pacific Financial’s payout ratio is 49.52%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. grew its holdings in Central Pacific Financial by 12.0% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 16,490 shares of the financial services provider’s stock worth $458,000 after acquiring an additional 1,769 shares in the last quarter. Assenagon Asset Management S.A. boosted its position in Central Pacific Financial by 143.4% during the 3rd quarter. Assenagon Asset Management S.A. now owns 456,132 shares of the financial services provider’s stock valued at $13,460,000 after acquiring an additional 268,719 shares in the last quarter. nVerses Capital LLC purchased a new position in shares of Central Pacific Financial in the 3rd quarter valued at $50,000. Cadinha & Co. LLC purchased a new stake in shares of Central Pacific Financial during the 3rd quarter worth $225,000. Finally, USA Financial Formulas bought a new stake in shares of Central Pacific Financial in the 3rd quarter valued at about $81,000. 88.42% of the stock is currently owned by institutional investors.

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.