Central Pacific Financial Corp. (NYSE:CPF) Short Interest Update

Central Pacific Financial Corp. (NYSE:CPF) was the target of a significant growth in short interest during the month of April. As of April 15th, there was short interest totalling 691,100 shares, a growth of 55.8% from the March 31st total of 443,600 shares. Approximately 2.6% of the shares of the stock are short sold. Based on an average trading volume of 184,600 shares, the short-interest ratio is currently 3.7 days.

Analyst Ratings Changes

Separately, Piper Sandler raised their price target on Central Pacific Financial from $22.00 to $24.00 and gave the stock an “overweight” rating in a research note on Thursday, February 1st.

Central Pacific Financial Stock Down 3.1 %

Shares of CPF traded down $0.64 during trading hours on Friday, hitting $20.12. The company had a trading volume of 152,429 shares, compared to its average volume of 194,065. The firm has a fifty day moving average price of $19.13 and a 200-day moving average price of $18.54. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.86 and a current ratio of 0.86. The stock has a market capitalization of $544.04 million, a price-to-earnings ratio of 9.81 and a beta of 1.15. Central Pacific Financial has a 52-week low of $13.22 and a 52-week high of $22.00.

Central Pacific Financial (NYSE:CPF) last posted its quarterly earnings results on Wednesday, April 24th. The financial services provider reported $0.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.45 by $0.03. The firm had revenue of $61.43 million during the quarter, compared to analyst estimates of $60.78 million. Central Pacific Financial had a return on equity of 11.34% and a net margin of 16.44%. On average, equities research analysts forecast that Central Pacific Financial will post 1.98 EPS for the current fiscal year.

Central Pacific Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 17th. Investors of record on Friday, May 31st will be issued a $0.26 dividend. The ex-dividend date is Thursday, May 30th. This represents a $1.04 annualized dividend and a yield of 5.17%. Central Pacific Financial’s payout ratio is 50.73%.

Insider Buying and Selling at Central Pacific Financial

In other news, Director Agnes Catherine Ngo sold 3,333 shares of the firm’s stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $19.45, for a total value of $64,826.85. Following the transaction, the director now owns 92,022 shares in the company, valued at $1,789,827.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold 9,999 shares of company stock worth $192,547 over the last ninety days. Insiders own 2.70% of the company’s stock.

Institutional Investors Weigh In On Central Pacific Financial

Several large investors have recently bought and sold shares of CPF. Victory Capital Management Inc. grew its stake in shares of Central Pacific Financial by 5.2% during the 3rd quarter. Victory Capital Management Inc. now owns 33,200 shares of the financial services provider’s stock valued at $554,000 after purchasing an additional 1,650 shares during the period. AQR Capital Management LLC grew its stake in shares of Central Pacific Financial by 0.3% during the 3rd quarter. AQR Capital Management LLC now owns 281,271 shares of the financial services provider’s stock valued at $4,692,000 after purchasing an additional 798 shares during the period. New York State Teachers Retirement System grew its stake in shares of Central Pacific Financial by 4.2% during the 4th quarter. New York State Teachers Retirement System now owns 25,075 shares of the financial services provider’s stock valued at $493,000 after purchasing an additional 1,022 shares during the period. North Reef Capital Management LP bought a new position in Central Pacific Financial in the 3rd quarter worth approximately $465,000. Finally, Wellington Management Group LLP boosted its stake in Central Pacific Financial by 79.0% in the 3rd quarter. Wellington Management Group LLP now owns 648,310 shares of the financial services provider’s stock worth $10,814,000 after purchasing an additional 286,110 shares during the period. 88.42% of the stock is currently owned by institutional investors.

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.