Central Pacific Financial Corp. (NYSE:CPF) Sees an 11.0% Increase in Short Interest for November

Central Pacific Financial Corp. (NYSE:CPF - Get Free Report) experienced a notable increase in its short interest during November. By the end of November, the short interest amounted to 633,100 shares, reflecting an 11.0% rise compared to the previous total of 570,400 shares recorded on November 15th. Currently, about 2.4% of the company's shares are sold short. When considering the average daily trading volume of 221,300 shares, the days-to-cover ratio stands at 2.9 days.

Institutional Investments

Recently, various institutional investors and hedge funds have made significant changes to their positions in Central Pacific Financial. For instance, Basswood Capital Management L.L.C. acquired a new stake in the company during the third quarter, valued at approximately $15,455,000. Meanwhile, Assenagon Asset Management S.A. increased its position by 143.4%, now owning 456,132 shares worth $13,460,000 after buying an additional 268,719 shares. Similarly, Dimensional Fund Advisors LP raised its stake by 5.9% in the second quarter, now holding 1,404,043 shares valued at $29,765,000 after acquiring 77,868 additional shares. American Century Companies Inc. augmented its holdings by 17.8%, now controlling 511,590 shares worth $10,846,000 after purchasing 77,265 shares. Likewise, Acadian Asset Management LLC increased its stake by 16.6%, owning 539,882 shares valued at $11,442,000 after acquiring 76,957 additional shares. Collectively, these institutional investors own approximately 88.42% of the company’s stock.

Performance Overview of Central Pacific Financial

As of Friday, CPF shares opened at $30.91. The company holds a market capitalization of $836.73 million, a price-to-earnings ratio of 14.72, and a beta of 1.18. Over the last year, Central Pacific Financial's stock has reached a low of $18.00 and a high of $33.25. The 50-day moving average price stands at $30.09 while the 200-day moving average price is $26.41. The debt-to-equity ratio is recorded at 0.29, with both the quick and current ratios at 0.85.

Dividend Announcement

Central Pacific Financial has also announced a quarterly dividend that is set to be paid on December 16th. Shareholders recorded on November 29th will receive a dividend of $0.26. This translates to an annualized dividend of $1.04, yielding 3.36%. The ex-dividend date was also on November 29th. The company’s payout ratio is currently 49.52%.

Wall Street Analysts' Outlook

In a separate note, StockNews.com has downgraded Central Pacific Financial from a "hold" rating to a "sell" rating as reported on December 10th.

More Insights on CPF

Company Profile of Central Pacific Financial

Central Pacific Financial Corp. operates as the bank holding company for Central Pacific Bank. The bank provides various commercial banking products and services tailored to the needs of businesses, professionals, and individuals across the United States. Its offerings include a range of deposit services such as checking accounts, savings accounts, time deposits, cash management and digital banking solutions, trust services, retail brokerage services, money market accounts, and certificates of deposit.

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