Central Pacific Financial Corp. (NYSE:CPF) Short Interest Down 31.8% in December

Central Pacific Financial Corp. (NYSE:CPF) saw a significant drop in short interest in 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. Currently, 1.6% of the company’s stock are short sold. Based on an average daily volume of 230,900 shares, the days-to-cover ratio is currently 1.9 days.

Hedge Funds Weigh In On Central Pacific Financial

A number of large investors have recently modified their holdings of CPF. nVerses Capital LLC acquired a new stake in shares of Central Pacific Financial in the third quarter valued at about $50,000. Quarry LP purchased a new position in Central Pacific Financial in the third quarter valued at about $53,000. USA Financial Formulas acquired a new stake in shares of Central Pacific Financial during the 3rd quarter valued at approximately $81,000. CWM LLC boosted its stake in shares of 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 acquiring an additional 1,520 shares in the last quarter. Finally, SG Americas Securities LLC acquired a new stake in shares of Central Pacific Financial in the 3rd quarter worth approximately $183,000. 88.42% of the stock is owned by hedge funds and other institutional investors.

Central Pacific Financial Stock Performance

CPF traded up $0.16 during trading on Monday, hitting $28.94. The stock had a trading volume of 41,575 shares, compared to its average volume of 199,191. Central Pacific Financial has a twelve month low of $18.00 and a twelve month high of $33.25. The firm has a market capitalization of $783.26 million, a P/E ratio of 13.78 and a beta of 1.18. 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 company’s 50-day moving average price is $30.11 and its 200 day moving average price is $27.08.

Central Pacific Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Friday, November 29th were issued a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a yield of 3.59%. The ex-dividend date was Friday, November 29th. Central Pacific Financial’s dividend payout ratio is presently 49.52%.

Analysts Set New Price Targets

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

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.