By otakuyassine3@gmail.com 
Central Pacific Financial Corp. (NYSE:CPF – Get Free Report) was the target of a large growth in short interest during the month of January. As of January 15th, there was short interest totalling 577,700 shares, a growth 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 stock are sold short.
Central Pacific Financial Stock Performance
NYSE:CPF traded up $0.43 during mid-day trading on Friday, hitting $29.87. The stock had a trading volume of 292,922 shares, compared to its average volume of 203,847. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.29. The company has a 50 day simple moving average of $29.38 and a 200-day simple moving average of $28.25. The stock has a market capitalization of $808.43 million, a price-to-earnings ratio of 15.16 and a beta of 1.19. Central Pacific Financial has a 52 week low of $18.00 and a 52 week high of $33.25.
Central Pacific Financial (NYSE:CPF – Get Free Report) last issued its quarterly earnings results on Wednesday, January 29th. The financial services provider reported $0.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.61 by $0.09. Central Pacific Financial had a return on equity of 12.12% and a net margin of 15.49%. On average, research analysts expect that Central Pacific Financial will post 2.55 earnings per share for the current fiscal year.
Central Pacific Financial Increases Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Friday, February 28th will be paid a $0.27 dividend. This is an increase from Central Pacific Financial’s previous quarterly dividend of $0.26. This represents a $1.08 annualized dividend and a yield of 3.62%. The ex-dividend date is Friday, February 28th. Central Pacific Financial’s dividend payout ratio is currently 54.82%.
Wall Street Analyst Weigh In
Separately, StockNews.com lowered Central Pacific Financial from a “hold” rating to a “sell” rating in a research note on Tuesday.
Read Our Latest Analysis on CPF
Institutional Trading of Central Pacific Financial
Institutional investors have recently made changes to their positions in the stock. Dimensional Fund Advisors LP boosted its holdings in Central Pacific Financial by 5.9% in the second quarter. Dimensional Fund Advisors LP now owns 1,404,043 shares of the financial services provider’s stock worth $29,765,000 after purchasing an additional 77,868 shares in the last quarter. Sei Investments Co. raised its stake in shares of Central Pacific Financial by 77.9% in the 2nd quarter. Sei Investments Co. now owns 31,084 shares of the financial services provider’s stock valued at $659,000 after acquiring an additional 13,609 shares in the last quarter. Public Sector Pension Investment Board boosted its position in Central Pacific Financial by 6.0% during the second quarter. Public Sector Pension Investment Board now owns 59,486 shares of the financial services provider’s stock worth $1,261,000 after purchasing an additional 3,361 shares during the period. Algert Global LLC grew its holdings in Central Pacific Financial by 7.0% during the second quarter. Algert Global LLC now owns 41,366 shares of the financial services provider’s stock valued at $877,000 after purchasing an additional 2,717 shares during the last quarter. Finally, Truist Financial Corp raised its position in shares of Central Pacific Financial by 14.1% in the second quarter. Truist Financial Corp now owns 17,113 shares of the financial services provider’s stock valued at $363,000 after purchasing an additional 2,110 shares during the period. 88.42% of the stock is currently owned by institutional investors and hedge funds.
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.
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