Central Pacific Financial Corp. (NYSE:CPF) Short Interest Down 32.7% in February

Central Pacific Financial Corp. (NYSE:CPF) saw a large decrease in short interest in February. As of February 28th, there was short interest totalling 513,200 shares, a decrease of 32.7% from the February 13th total of 762,300 shares. Approximately 1.9% of the shares of the stock are sold short. Based on an average daily volume of 214,200 shares, the days-to-cover ratio is currently 2.4 days.

Analysts Set New Price Targets

Separately, StockNews.com downgraded Central Pacific Financial from a “hold” rating to a “sell” rating in a report on Wednesday.

Central Pacific Financial Price Performance

CPF stock traded up $0.75 during trading on Friday, reaching $27.14. 186,133 shares of the company were exchanged, compared to its average volume of 187,735. The company has a market capitalization of $734.44 million, a price-to-earnings ratio of 13.77 and a beta of 1.17. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.85 and a quick ratio of 0.85. The company has a 50-day moving average of $28.47 and a two-hundred day moving average of $28.94. Central Pacific Financial has a twelve month low of $18.35 and a twelve month high of $33.25.

Central Pacific Financial (NYSE:CPF) last announced its quarterly earnings results on Wednesday, January 29th. The financial services provider reported $0.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.61 by $0.09. Central Pacific Financial had a net margin of 15.49% and a return on equity of 12.03%. As a group, equities analysts predict that Central Pacific Financial will post 2.75 earnings per share for the current fiscal year.

Central Pacific Financial Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Friday, February 28th will be paid a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a dividend yield of 3.98%. This is a positive change from Central Pacific Financial’s previous quarterly dividend of $0.26. The ex-dividend date is Friday, February 28th. Central Pacific Financial’s dividend payout ratio (DPR) is presently 54.82%.

Institutional Investors Weigh In On Central Pacific Financial

A number of institutional investors have recently added to or reduced their stakes in CPF. Picton Mahoney Asset Management bought a new stake in shares of Central Pacific Financial in the 4th quarter valued at $30,000. SBI Securities Co. Ltd. acquired a new position in shares of Central Pacific Financial in the 4th quarter valued at about $31,000. Quarry LP bought a new stake in shares of Central Pacific Financial during the 3rd quarter valued at about $53,000. Quantbot Technologies LP acquired a new stake in Central Pacific Financial during the fourth quarter worth approximately $55,000. Finally, KLP Kapitalforvaltning AS bought a new stake in Central Pacific Financial in the fourth quarter worth approximately $168,000. 88.42% of the stock is owned by institutional investors.

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.