Short Interest in Central Pacific Financial Corp. (NYSE:CPF) Drops By 32.0%
Central Pacific Financial Corp. (NYSE:CPF) saw a large decrease in short interest in July. As of July 31st, there was short interest totalling 655,900 shares, a decrease of 32.0% from the June 30th total of 964,700 shares. Based on an average daily volume of 129,100 shares, the short-interest ratio is currently 5.1 days. Approximately 2.4% of the company’s stock are short sold.
In other Central Pacific Financial news, Director Duane K. Kurisu purchased 900 shares of the firm’s stock in a transaction dated Friday, June 7th. The stock was bought at an average price of $28.33 per share, with a total value of $25,497.00. Following the completion of the purchase, the director now owns 19,323 shares in the company, valued at approximately $547,420.59. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Paul K. Yonamine purchased 8,627 shares of the firm’s stock in a transaction dated Monday, July 29th. The stock was acquired at an average cost of $29.65 per share, with a total value of $255,790.55. Following the purchase, the chief executive officer now owns 8,627 shares of the company’s stock, valued at approximately $255,790.55. The disclosure for this purchase can be found here. Over the last ninety days, insiders acquired 19,977 shares of company stock worth $588,812. 3.80% of the stock is currently owned by corporate insiders.
Institutional investors have recently modified their holdings of the company. Westwood Holdings Group Inc. bought a new stake in Central Pacific Financial in the first quarter valued at approximately $23,987,000. Acadian Asset Management LLC boosted its holdings in shares of Central Pacific Financial by 268.5% in the 1st quarter. Acadian Asset Management LLC now owns 228,187 shares of the financial services provider’s stock valued at $6,580,000 after purchasing an additional 166,270 shares in the last quarter. Russell Investments Group Ltd. boosted its holdings in shares of Central Pacific Financial by 13.6% in the 2nd quarter. Russell Investments Group Ltd. now owns 1,252,957 shares of the financial services provider’s stock valued at $37,511,000 after purchasing an additional 149,728 shares in the last quarter. Granite Investment Partners LLC boosted its holdings in shares of Central Pacific Financial by 48.0% in the 1st quarter. Granite Investment Partners LLC now owns 453,915 shares of the financial services provider’s stock valued at $13,091,000 after purchasing an additional 147,177 shares in the last quarter. Finally, Boston Partners boosted its holdings in shares of Central Pacific Financial by 26.9% in the 1st quarter. Boston Partners now owns 536,462 shares of the financial services provider’s stock valued at $15,472,000 after purchasing an additional 113,615 shares in the last quarter. Institutional investors own 95.58% of the company’s stock.
Shares of NYSE CPF traded down $0.51 during mid-day trading on Wednesday, reaching $27.86. 2,835 shares of the company traded hands, compared to its average volume of 143,916. The stock has a market cap of $812.44 million, a PE ratio of 13.89 and a beta of 0.99. The company’s fifty day moving average is $29.39. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.30. Central Pacific Financial has a fifty-two week low of $23.23 and a fifty-two week high of $30.82.
Central Pacific Financial (NYSE:CPF) last announced its quarterly earnings data on Wednesday, July 24th. The financial services provider reported $0.47 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.51 by ($0.04). The firm had revenue of $55.47 million for the quarter, compared to analyst estimates of $55.10 million. Central Pacific Financial had a return on equity of 12.18% and a net margin of 24.06%. During the same period in the previous year, the business posted $0.48 EPS. As a group, sell-side analysts predict that Central Pacific Financial will post 2.01 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Investors of record on Friday, August 30th will be paid a dividend of $0.23 per share. The ex-dividend date is Thursday, August 29th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 3.30%. Central Pacific Financial’s dividend payout ratio (DPR) is presently 45.77%.
Central Pacific Financial announced that its Board of Directors has approved a share repurchase plan on Thursday, June 20th that permits the company to repurchase $30.00 million in outstanding shares. This repurchase authorization permits the financial services provider to repurchase up to 3.6% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board of directors believes its stock is undervalued.
Central Pacific Financial Company Profile
Central Pacific Financial Corp. operates as the holding company for Central Pacific Bank that provides commercial banking products and services to businesses, professionals, and individuals in Hawaii. The company operates in three segments: Banking Operations, Treasury, and All Others. It offers various deposit products and services, including personal and business checking and savings accounts, money market accounts, and time certificates of deposit.
Featured Story: What is systematic risk?
Receive News & Ratings for Central Pacific Financial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Central Pacific Financial and related companies with MarketBeat.com's FREE daily email newsletter.