Short Interest in Central Pacific Financial Corp. (NYSE:CPF) Declines By 31.8%

Central Pacific Financial Corp. (NYSE:CPF) was the target of a large decline in short interest in December. As of December 15th, there was short interest totalling 432,000 shares, a decline of 31.8% from the November 30th total of 633,100 shares. Based on an average daily volume of 230,900 shares, the short-interest ratio is presently 1.9 days. Approximately 1.6% of the company’s shares are short sold.

Analyst Ratings Changes

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

Central Pacific Financial Stock Performance

CPF traded up $0.04 during trading on Monday, reaching $28.82. 107,607 shares of the company were exchanged, compared to its average volume of 199,475. Central Pacific Financial has a 52 week low of $18.00 and a 52 week high of $33.25. The stock has a market cap of $780.01 million, a P/E ratio of 13.72 and a beta of 1.18. 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 firm has a 50 day moving average of $30.11 and a 200 day moving average of $27.08.

Central Pacific Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Friday, November 29th were given a $0.26 dividend. This represents a $1.04 annualized dividend and a yield of 3.61%. The ex-dividend date was Friday, November 29th. Central Pacific Financial’s dividend payout ratio is currently 49.52%.

Institutional Investors Weigh In On Central Pacific Financial

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. nVerses Capital LLC acquired a new position in shares of Central Pacific Financial in the 3rd quarter worth $50,000. Quarry LP purchased a new position in Central Pacific Financial in the 3rd quarter worth about $53,000. USA Financial Formulas acquired a new stake in Central Pacific Financial during the 3rd quarter worth about $81,000. CWM LLC boosted its holdings in shares of Central Pacific Financial by 77.7% in the third quarter. CWM LLC now owns 3,477 shares of the financial services provider’s stock worth $103,000 after buying an additional 1,520 shares during the period. Finally, SG Americas Securities LLC purchased a new position in shares of Central Pacific Financial in the third quarter worth approximately $183,000. 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.