Short Interest in Central Pacific Financial Corp. (NYSE:CPF) Decreases By 13.2%

Central Pacific Financial Corp. (NYSE:CPF) was the recipient of a significant decrease in short interest in January. As of January 31st, there was short interest totalling 451,200 shares, a decrease of 13.2% from the January 15th total of 519,900 shares. Based on an average daily trading volume, of 135,800 shares, the short-interest ratio is currently 3.3 days. Approximately 1.7% of the company’s stock are sold short.

Several research analysts have recently issued reports on the stock. ValuEngine upgraded shares of Central Pacific Financial from a “sell” rating to a “hold” rating in a research note on Tuesday, October 29th. Zacks Investment Research downgraded shares of Central Pacific Financial from a “buy” rating to a “hold” rating in a research report on Wednesday, February 5th.

In other news, Director John C. Dean sold 6,700 shares of the company’s stock in a transaction that occurred on Friday, December 6th. The shares were sold at an average price of $29.45, for a total value of $197,315.00. Following the transaction, the director now owns 3,398 shares in the company, valued at $100,071.10. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director John C. Dean sold 6,600 shares of the company’s stock in a transaction that occurred on Wednesday, December 11th. The stock was sold at an average price of $29.16, for a total transaction of $192,456.00. Following the completion of the transaction, the director now owns 3,398 shares in the company, valued at approximately $99,085.68. The disclosure for this sale can be found here. Corporate insiders own 3.80% of the company’s stock.

Institutional investors have recently modified their holdings of the stock. California Public Employees Retirement System lifted its position in Central Pacific Financial by 21.3% during the third quarter. California Public Employees Retirement System now owns 72,470 shares of the financial services provider’s stock valued at $2,058,000 after purchasing an additional 12,724 shares during the period. State of Tennessee Treasury Department lifted its position in Central Pacific Financial by 8.5% during the third quarter. State of Tennessee Treasury Department now owns 12,920 shares of the financial services provider’s stock valued at $367,000 after purchasing an additional 1,016 shares during the period. Rhumbline Advisers lifted its position in Central Pacific Financial by 6.2% during the third quarter. Rhumbline Advisers now owns 92,111 shares of the financial services provider’s stock valued at $2,616,000 after purchasing an additional 5,376 shares during the period. Virginia Retirement Systems ET AL lifted its position in Central Pacific Financial by 18.6% during the third quarter. Virginia Retirement Systems ET AL now owns 62,500 shares of the financial services provider’s stock valued at $1,775,000 after purchasing an additional 9,800 shares during the period. Finally, Morgan Stanley increased its holdings in Central Pacific Financial by 81.2% during the second quarter. Morgan Stanley now owns 227,769 shares of the financial services provider’s stock valued at $6,824,000 after buying an additional 102,085 shares during the last quarter. Institutional investors own 92.25% of the company’s stock.

Central Pacific Financial stock traded down $0.45 during midday trading on Friday, reaching $28.21. 117,800 shares of the company traded hands, compared to its average volume of 140,126. The firm has a market capitalization of $802.22 million, a price-to-earnings ratio of 13.90 and a beta of 1.05. The business has a 50 day moving average of $28.78 and a two-hundred day moving average of $28.83. Central Pacific Financial has a 12 month low of $27.12 and a 12 month high of $30.82. The company has a debt-to-equity ratio of 0.29, a current ratio of 0.86 and a quick ratio of 0.86.

Central Pacific Financial (NYSE:CPF) last issued its quarterly earnings data on Wednesday, January 29th. The financial services provider reported $0.50 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.49 by $0.01. The company had revenue of $57.70 million for the quarter, compared to the consensus estimate of $55.90 million. Central Pacific Financial had a net margin of 22.59% and a return on equity of 11.26%. As a group, equities analysts forecast that Central Pacific Financial will post 1.85 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 16th. Investors of record on Friday, February 28th will be given a dividend of $0.23 per share. The ex-dividend date is Thursday, February 27th. This represents a $0.92 dividend on an annualized basis and a yield of 3.26%. Central Pacific Financial’s dividend payout ratio (DPR) is 45.32%.

About Central Pacific Financial

Central Pacific Financial Corp. operates as the holding company for Central Pacific Bank that provides commercial banking products and services to businesses, professionals, and individuals in Hawaii. The company operates in three segments: Banking Operations, Treasury, and All Others. It offers various deposit products and services, including personal and business checking and savings accounts, money market accounts, and time certificates of deposit.

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