Short Interest in Central Pacific Financial Corp. (NYSE:CPF) Increases By 11.0%

Central Pacific Financial Corp. (NYSE:CPF - Get Free Report) saw a large growth in short interest in 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. Based on an average daily trading volume, of 221,300 shares, the short-interest ratio is currently 2.9 days. Currently, 2.4% of the shares of the stock are short sold.

Analysts Set New Price Targets

Separately, StockNews.com cut 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

Institutional investors and hedge funds have recently bought and sold shares of the company. nVerses Capital LLC bought a new stake in shares of Central Pacific Financial in the 3rd quarter valued at about $50,000. Quarry LP bought a new stake in shares of Central Pacific Financial in the 3rd quarter valued at about $53,000. CWM LLC grew its position in shares of Central Pacific Financial by 221.9% in the 2nd quarter. CWM LLC now owns 1,957 shares of the financial services provider's stock valued at $41,000 after buying an additional 1,349 shares during the last quarter. USA Financial Formulas bought a new stake in shares of Central Pacific Financial in the 3rd quarter valued at about $81,000. Finally, SG Americas Securities LLC bought a new stake in shares of Central Pacific Financial in the 3rd quarter valued at about $183,000. Institutional investors and hedge funds own 88.42% of the company's stock.

Central Pacific Financial Price Performance

CPF traded down $0.05 on Friday, reaching $30.91. The stock had a trading volume of 144,951 shares, compared to its average volume of 193,786. Central Pacific Financial has a fifty-two week low of $18.00 and a fifty-two week high of $33.25. The firm has a 50-day moving average of $30.09 and a 200-day moving average of $26.45. 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 company has a market capitalization of $836.73 million, a price-to-earnings ratio of 14.72 and a beta of 1.18.

Central Pacific Financial Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 29th will be issued a $0.26 dividend. The ex-dividend date is Friday, November 29th. This represents a $1.04 dividend on an annualized basis and a yield of 3.36%. Central Pacific Financial's payout ratio is presently 49.52%.

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.