Short Interest in Central Pacific Financial Corp. (NYSE:CPF) Grows By 7.8%

Central Pacific Financial Corp. (NYSE:CPF) saw a large increase in short interest in the month of June. As of June 30th, there was short interest totalling 555,700 shares, an increase of 7.8% from the June 15th total of 515,600 shares. Approximately 2.1% of the company’s shares are sold short. Based on an average trading volume of 165,200 shares, the days-to-cover ratio is presently 3.4 days.

Central Pacific Financial Trading Up 0.8 %

NYSE:CPF traded up $0.20 during midday trading on Thursday, hitting $24.46. The stock had a trading volume of 310,569 shares, compared to its average volume of 170,789. The stock has a 50-day moving average of $20.94 and a 200 day moving average of $19.88. The company has a market capitalization of $661.40 million, a price-to-earnings ratio of 11.84 and a beta of 1.13. Central Pacific Financial has a one year low of $14.69 and a one year high of $24.81. The company has a quick ratio of 0.85, a current ratio of 0.86 and a debt-to-equity ratio of 0.37.

Central Pacific Financial (NYSE:CPF) last posted its quarterly earnings results on Wednesday, April 24th. The financial services provider reported $0.48 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.45 by $0.03. The business had revenue of $61.43 million for the quarter, compared to the consensus estimate of $60.78 million. Central Pacific Financial had a return on equity of 11.34% and a net margin of 16.44%. As a group, sell-side analysts forecast that Central Pacific Financial will post 2 EPS for the current year.

Central Pacific Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 17th. Stockholders of record on Friday, May 31st were issued a $0.26 dividend. The ex-dividend date was Friday, May 31st. This represents a $1.04 annualized dividend and a dividend yield of 4.25%. Central Pacific Financial’s dividend payout ratio is currently 50.73%.

Insider Activity at Central Pacific Financial

In other news, Director Agnes Catherine Ngo sold 3,333 shares of the company’s stock in a transaction dated Friday, July 12th. The shares were sold at an average price of $22.67, for a total value of $75,559.11. Following the transaction, the director now directly owns 75,357 shares in the company, valued at $1,708,343.19. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 2.70% of the stock is owned by company insiders.

Institutional Investors Weigh In On Central Pacific Financial

Several hedge funds have recently modified their holdings of CPF. Acadian Asset Management LLC raised its stake in Central Pacific Financial by 359.7% in the first quarter. Acadian Asset Management LLC now owns 462,925 shares of the financial services provider’s stock worth $9,140,000 after buying an additional 362,232 shares in the last quarter. Wellington Management Group LLP increased its holdings in shares of Central Pacific Financial by 79.0% in the 3rd quarter. Wellington Management Group LLP now owns 648,310 shares of the financial services provider’s stock valued at $10,814,000 after acquiring an additional 286,110 shares during the period. Assenagon Asset Management S.A. raised its position in shares of Central Pacific Financial by 45.1% in the 4th quarter. Assenagon Asset Management S.A. now owns 384,405 shares of the financial services provider’s stock worth $7,565,000 after acquiring an additional 119,399 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Central Pacific Financial by 9.9% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,248,059 shares of the financial services provider’s stock worth $24,562,000 after purchasing an additional 112,105 shares during the last quarter. Finally, Hsbc Holdings PLC boosted its position in Central Pacific Financial by 92.7% during the fourth quarter. Hsbc Holdings PLC now owns 119,370 shares of the financial services provider’s stock valued at $2,359,000 after purchasing an additional 57,418 shares in the last quarter. Hedge funds and other institutional investors own 88.42% of the company’s stock.

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.