Central Pacific Financial Corp. (NYSE:CPF) Sees Significant Decrease in Short Interest

Central Pacific Financial Corp. (NYSE:CPF) was the recipient of a significant decline in short interest in February. As of February 28th, there was short interest totalling 513,200 shares, a decline of 32.7% from the February 13th total of 762,300 shares. Based on an average trading volume of 214,200 shares, the days-to-cover ratio is currently 2.4 days. Currently, 1.9% of the shares of the stock are short sold.

Central Pacific Financial Trading Up 2.8 %

Shares of Central Pacific Financial stock traded up $0.75 on Friday, reaching $27.14. 186,133 shares of the company’s stock were exchanged, compared to its average volume of 189,348. The company has a market capitalization of $734.44 million, a P/E ratio of 13.77 and a beta of 1.17. Central Pacific Financial has a 52 week low of $18.35 and a 52 week high of $33.25. The firm’s 50-day moving average is $28.48 and its two-hundred day moving average is $28.94. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.85 and a current ratio of 0.85.

Central Pacific Financial (NYSE:CPF) last posted its quarterly earnings results on Wednesday, January 29th. The financial services provider reported $0.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.61 by $0.09. Central Pacific Financial had a return on equity of 12.03% and a net margin of 15.49%. Sell-side analysts predict that Central Pacific Financial will post 2.75 EPS for the current fiscal year.

Central Pacific Financial Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Friday, February 28th will be given a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a dividend yield of 3.98%. This is a positive change from Central Pacific Financial’s previous quarterly dividend of $0.26. The ex-dividend date of this dividend is Friday, February 28th. Central Pacific Financial’s dividend payout ratio is presently 54.82%.

Hedge Funds Weigh In On Central Pacific Financial

A number of institutional investors have recently modified their holdings of CPF. Picton Mahoney Asset Management purchased a new stake in shares of Central Pacific Financial during the 4th quarter valued at $30,000. SBI Securities Co. Ltd. bought a new stake in Central Pacific Financial in the 4th quarter valued at about $31,000. Quarry LP bought a new stake in Central Pacific Financial in the 3rd quarter valued at about $53,000. Quantbot Technologies LP purchased a new position in Central Pacific Financial during the 4th quarter valued at about $55,000. Finally, KLP Kapitalforvaltning AS purchased a new position in Central Pacific Financial during the 4th quarter valued at about $168,000. 88.42% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

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.