Central Pacific Financial Corp. (NYSE:CPF) Short Interest Up 35.4% in September

by · The Markets Daily

Central Pacific Financial Corp. (NYSE:CPF – Get Free Report) was the target of a significant increase in short interest in September. As of September 30th, there was short interest totalling 656,500 shares, an increase of 35.4% from the September 15th total of 484,900 shares. Based on an average daily trading volume, of 234,900 shares, the days-to-cover ratio is currently 2.8 days. Approximately 2.5% of the shares of the company are sold short.

Central Pacific Financial Price Performance

Shares of CPF stock traded up $0.59 on Tuesday, hitting $29.70. 216,403 shares of the stock traded hands, compared to its average volume of 190,872. The firm has a market cap of $803.15 million, a price-to-earnings ratio of 14.43 and a beta of 1.13. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.86 and a quick ratio of 0.86. The firm has a 50 day simple moving average of $27.26 and a two-hundred day simple moving average of $23.30. Central Pacific Financial has a 52 week low of $14.69 and a 52 week high of $30.22.

Central Pacific Financial (NYSE:CPF – Get Free Report) last released its quarterly earnings data on Wednesday, July 31st. The financial services provider reported $0.58 EPS for the quarter, beating the consensus estimate of $0.48 by $0.10. The business had revenue of $87.96 million during the quarter, compared to analyst estimates of $61.74 million. Central Pacific Financial had a net margin of 16.44% and a return on equity of 11.36%. During the same quarter last year, the business earned $0.53 earnings per share. As a group, equities research analysts predict that Central Pacific Financial will post 2.2 earnings per share for the current fiscal year.

Central Pacific Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Friday, August 30th were paid a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a dividend yield of 3.50%. The ex-dividend date of this dividend was Friday, August 30th. Central Pacific Financial’s dividend payout ratio (DPR) is currently 50.73%.

Institutional Investors Weigh In On Central Pacific Financial

Large investors have recently modified their holdings of the business. CWM LLC grew its position in Central Pacific Financial by 221.9% during the second quarter. CWM LLC now owns 1,957 shares of the financial services provider’s stock valued at $41,000 after buying an additional 1,349 shares during the period. Allspring Global Investments Holdings LLC lifted its position in shares of Central Pacific Financial by 660.9% in the first quarter. Allspring Global Investments Holdings LLC now owns 2,488 shares of the financial services provider’s stock valued at $49,000 after acquiring an additional 2,161 shares in the last quarter. USA Financial Formulas purchased a new stake in shares of Central Pacific Financial during the third quarter worth approximately $81,000. SG Americas Securities LLC acquired a new position in Central Pacific Financial in the 3rd quarter valued at $183,000. Finally, Central Pacific Bank Trust Division purchased a new position in Central Pacific Financial in the 1st quarter valued at $134,000. Hedge funds and other institutional investors own 88.42% of the company’s stock.

About Central Pacific Financial

(Get Free Report)

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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