Central Pacific Financial Corp. (NYSE:CPF) Short Interest Up 55.8% in April

Central Pacific Financial Corp. (NYSE:CPF - Get Free Report) saw 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. Currently, 2.6% of the company's shares are short sold. Based on an average daily volume of 184,600 shares, the days-to-cover ratio is currently 3.7 days.

Analyst Ratings Changes

Separately, Piper Sandler lifted their price objective on Central Pacific Financial from $22.00 to $24.00 and gave the company an "overweight" rating in a research report on Thursday, February 1st.

Insider Buying and Selling

In related news, Director Agnes Catherine Ngo sold 3,333 shares of the firm's stock in a transaction dated Friday, April 12th. The stock was sold at an average price of $19.00, for a total value of $63,327.00. Following the sale, the director now directly owns 85,356 shares of the company's stock, valued at $1,621,764. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold 9,999 shares of company stock valued at $192,547 over the last ninety days. 2.70% of the stock is owned by insiders.

Hedge Funds Weigh In On Central Pacific Financial

Large investors have recently made changes to their positions in the business. Victory Capital Management Inc. lifted its holdings in shares of Central Pacific Financial by 5.2% during the third 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 last quarter. AQR Capital Management LLC lifted its holdings in shares of Central Pacific Financial by 0.3% during the third 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 last quarter. New York State Teachers Retirement System lifted its holdings in shares of Central Pacific Financial by 4.2% during the fourth 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 last quarter. North Reef Capital Management LP purchased a new position in shares of Central Pacific Financial during the third quarter valued at approximately $465,000. Finally, Wellington Management Group LLP lifted its holdings in shares of Central Pacific Financial by 79.0% during the third quarter. Wellington Management Group LLP now owns 648,310 shares of the financial services provider's stock valued at $10,814,000 after purchasing an additional 286,110 shares during the last quarter. 88.42% of the stock is currently owned by hedge funds and other institutional investors.

Central Pacific Financial Stock Down 3.1 %

Central Pacific Financial stock traded down $0.64 during trading hours on Friday, hitting $20.12. 152,429 shares of the stock traded hands, compared to its average volume of 194,065. The firm's 50-day moving average price is $19.15 and its two-hundred day moving average price is $18.57. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.37. The company has a market cap of $544.04 million, a PE ratio of 9.81 and a beta of 1.15. Central Pacific Financial has a one year low of $13.22 and a one year high of $22.00.

Central Pacific Financial (NYSE:CPF - Get Free Report) last posted its quarterly earnings data on Wednesday, April 24th. The financial services provider reported $0.48 earnings per share for the quarter, beating the consensus estimate of $0.45 by $0.03. Central Pacific Financial had a return on equity of 11.34% and a net margin of 16.44%. The business had revenue of $61.43 million for the quarter, compared to analysts' expectations of $60.78 million. On average, research analysts forecast that Central Pacific Financial will post 1.98 EPS for the current year.

Central Pacific Financial Announces Dividend

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

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.