Short Interest in Central Pacific Financial Corp. (NYSE:CPF) Increases By 33.7%

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

Central Pacific Financial Stock Down 0.3 %

NYSE:CPF traded down $0.08 during trading hours on Thursday, reaching $28.18. The company’s stock had a trading volume of 287,459 shares, compared to its average volume of 235,446. The stock has a 50 day moving average price of $29.96 and a two-hundred day moving average price of $27.70. 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 company has a market capitalization of $762.75 million, a P/E ratio of 13.42 and a beta of 1.19. Central Pacific Financial has a 12 month low of $18.00 and a 12 month high of $33.25.

Central Pacific Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Friday, November 29th were paid a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a dividend yield of 3.69%. The ex-dividend date of this dividend was Friday, November 29th. Central Pacific Financial’s dividend payout ratio (DPR) is currently 49.52%.

Wall Street Analyst Weigh In

Separately, StockNews.com downgraded shares of Central Pacific Financial from a “hold” rating to a “sell” rating in a research report on Tuesday, December 10th.

Institutional Investors Weigh In On Central Pacific Financial

Institutional investors have recently added to or reduced their stakes in the stock. Algert Global LLC lifted its position in shares of Central Pacific Financial by 1.4% during the third quarter. Algert Global LLC now owns 41,936 shares of the financial services provider’s stock valued at $1,238,000 after buying an additional 570 shares during the last quarter. Diversified Trust Co raised its stake in shares of Central Pacific Financial by 9.8% during the 4th quarter. Diversified Trust Co now owns 8,787 shares of the financial services provider’s stock worth $255,000 after acquiring an additional 783 shares in the last quarter. CWM LLC lifted its position in Central Pacific Financial by 77.7% during the third quarter. CWM LLC now owns 3,477 shares of the financial services provider’s stock valued at $103,000 after acquiring an additional 1,520 shares during the last quarter. nVerses Capital LLC acquired a new stake in Central Pacific Financial in the third quarter valued at approximately $50,000. Finally, Mirae Asset Global Investments Co. Ltd. grew its holdings in Central Pacific Financial by 12.0% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 16,490 shares of the financial services provider’s stock worth $458,000 after purchasing an additional 1,769 shares during the last quarter. 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.