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

Central Pacific Financial Corp. (NYSE:CPF) was the recipient of a significant drop in short interest during the month of December. As of December 15th, there was short interest totalling 432,000 shares, a drop 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. Currently, 1.6% of the company’s shares are short sold.

Central Pacific Financial Trading Down 1.0 %

CPF traded down $0.29 on Friday, hitting $28.78. The company had a trading volume of 143,101 shares, compared to its average volume of 199,842. The company’s fifty day moving average price is $30.11 and its 200 day moving average price is $26.98. Central Pacific Financial has a 1 year low of $18.00 and a 1 year high of $33.25. 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 market cap of $778.93 million, a P/E ratio of 13.70 and a beta of 1.18.

Central Pacific Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Friday, November 29th were paid a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a dividend yield of 3.61%. The ex-dividend date was Friday, November 29th. Central Pacific Financial’s dividend payout ratio (DPR) is 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 report on Tuesday, December 10th.

Hedge Funds Weigh In On Central Pacific Financial

Hedge funds have recently made changes to their positions in the stock. nVerses Capital LLC acquired a new position in Central Pacific Financial in the 3rd quarter valued at about $50,000. Quarry LP purchased a new position in shares of Central Pacific Financial in the third quarter valued at approximately $53,000. USA Financial Formulas acquired a new position in shares of Central Pacific Financial in the third quarter valued at approximately $81,000. CWM LLC increased its stake in Central Pacific Financial by 77.7% during the 3rd 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 acquired a new stake in Central Pacific Financial during the 3rd quarter worth approximately $183,000. Hedge funds and other institutional investors own 88.42% of the company’s stock.

About Central Pacific Financial

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.