Central Pacific Financial Corp. (NYSE:CPF) Short Interest Up 11.0% in November

Central Pacific Financial Corp. (NYSE:CPF) saw a significant growth in short interest in the month of November. As of November 30th, there was short interest totalling 633,100 shares, a growth of 11.0% from the November 15th total of 570,400 shares. Currently, 2.4% of the shares of the stock are short sold. Based on an average daily trading volume, of 221,300 shares, the days-to-cover ratio is presently 2.9 days.

Institutional Trading of Central Pacific Financial

Several institutional investors have recently made changes to their positions in the stock. Franklin Resources Inc. lifted its position in Central Pacific Financial by 4.0% during the third quarter. Franklin Resources Inc. now owns 56,148 shares of the financial services provider’s stock valued at $1,634,000 after buying an additional 2,151 shares in the last quarter. Barclays PLC lifted its stake in shares of Central Pacific Financial by 84.3% during the third quarter. Barclays PLC now owns 58,493 shares of the financial services provider’s stock worth $1,726,000 after purchasing an additional 26,755 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Central Pacific Financial by 4.0% in the third quarter. Geode Capital Management LLC now owns 640,369 shares of the financial services provider’s stock worth $18,901,000 after buying an additional 24,686 shares during the period. XTX Topco Ltd acquired a new stake in shares of Central Pacific Financial in the third quarter valued at about $422,000. Finally, Zacks Investment Management purchased a new stake in shares of Central Pacific Financial during the 3rd quarter valued at about $573,000. 88.42% of the stock is owned by hedge funds and other institutional investors.

Central Pacific Financial Stock Down 0.1 %

CPF stock opened at $30.89 on Tuesday. The company has a 50 day moving average price of $30.15 and a two-hundred day moving average price of $26.53. 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 stock has a market capitalization of $836.04 million, a P/E ratio of 14.71 and a beta of 1.18. Central Pacific Financial has a one year low of $18.00 and a one year high of $33.25.

Central Pacific Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Friday, November 29th were given a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a yield of 3.37%. The ex-dividend date of this dividend was Friday, November 29th. Central Pacific Financial’s dividend payout ratio (DPR) is 49.52%.

Wall Street Analysts Forecast Growth

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

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.