Louisiana State Employees Retirement System Sells 500 Shares of Central Pacific Financial Corp. (NYSE:CPF)

Louisiana State Employees Retirement System lessened its holdings in shares of Central Pacific Financial Corp. (NYSE:CPF) by 3.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm 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.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Assenagon Asset Management S.A. increased its stake in Central Pacific Financial by 143.4% in the 3rd quarter. Assenagon Asset Management S.A. now owns 456,132 shares of the financial services provider’s stock worth $13,460,000 after acquiring an additional 268,719 shares during the last quarter. nVerses Capital LLC bought a new stake in Central Pacific Financial in the 3rd quarter worth approximately $50,000. Cadinha & Co. LLC bought a new stake in Central Pacific Financial in the 3rd quarter worth approximately $225,000. USA Financial Formulas bought a new stake in Central Pacific Financial in the 3rd quarter worth approximately $81,000. Finally, CWM LLC increased its stake in Central Pacific Financial by 77.7% in the 3rd quarter. CWM LLC now owns 3,477 shares of the financial services provider’s stock worth $103,000 after acquiring an additional 1,520 shares during the last quarter. Institutional investors own 88.42% of the company’s stock.

Analysts Set New Price Targets

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

Central Pacific Financial Stock Performance

NYSE:CPF opened at $31.23 on Thursday. The company 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 debt-to-equity ratio of 0.29, a current ratio of 0.85 and a quick ratio of 0.85. The stock’s 50 day simple moving average is $28.17 and its two-hundred day simple moving average is $24.40. Central Pacific Financial Corp. has a 1 year low of $16.45 and a 1 year high of $31.65.

Central Pacific Financial Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders 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 dividend yield of 3.33%. The ex-dividend date of this dividend is Friday, November 29th. Central Pacific Financial’s dividend payout ratio is currently 49.52%.

Central Pacific Financial Company 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.