Louisiana State Employees Retirement System Reduces Stock Position in Central Pacific Financial Corp. (NYSE:CPF)

Louisiana State Employees Retirement System lowered its holdings in shares of Central Pacific Financial Corp. (NYSE:CPF) by 3.7% in the third quarter, Holdings Channel.com reports. The fund owned 13,100 shares of the financial services provider’s stock after selling 500 shares during the quarter. Louisiana State Employees Retirement System’s holdings in Central Pacific Financial were worth $387,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of CPF. nVerses Capital LLC purchased a new stake in shares of Central Pacific Financial in the 3rd quarter worth $50,000. CWM LLC lifted its holdings 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 worth $41,000 after buying an additional 1,349 shares during the period. Allspring Global Investments Holdings LLC lifted its holdings in shares of Central Pacific Financial by 660.9% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 2,488 shares of the financial services provider’s stock worth $49,000 after buying an additional 2,161 shares during the period. USA Financial Formulas purchased a new stake in shares of Central Pacific Financial in the 3rd quarter worth $81,000. Finally, SG Americas Securities LLC purchased a new stake in shares of Central Pacific Financial in the 3rd quarter worth $183,000. Hedge funds and other institutional investors own 88.42% of the company’s stock.

Wall Street Analyst Weigh In

Separately, StockNews.com lowered Central Pacific Financial from a “hold” rating to a “sell” rating in a research report on Friday, November 1st.

Central Pacific Financial Trading Up 13.9 %

CPF opened at $31.23 on Thursday. The stock has a fifty day moving average price of $28.17 and a 200-day moving average price of $24.40. Central Pacific Financial Corp. has a 12 month low of $16.45 and a 12 month high of $31.65. The firm has a market cap of $845.40 million, a price-to-earnings ratio of 14.87 and a beta of 1.14. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.29.

Central Pacific Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 29th will be given a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a yield of 3.33%. The ex-dividend date is Friday, November 29th. Central Pacific Financial’s dividend payout ratio is currently 49.52%.

Central Pacific Financial 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.