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

Louisiana State Employees Retirement System lowered its stake in shares of Central Pacific Financial Corp. (NYSE:CPF) by 8.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,730 shares of the financial services provider’s stock after selling 870 shares during the quarter. Louisiana State Employees Retirement System’s holdings in Central Pacific Financial were worth $288,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the stock. Nuveen Asset Management LLC bought a new position in Central Pacific Financial during the 2nd quarter valued at $14,384,000. Millennium Management LLC lifted its position in shares of Central Pacific Financial by 141.8% during the third quarter. Millennium Management LLC now owns 431,959 shares of the financial services provider’s stock valued at $12,267,000 after purchasing an additional 253,352 shares in the last quarter. Morgan Stanley lifted its position in shares of Central Pacific Financial by 81.2% during the second quarter. Morgan Stanley now owns 227,769 shares of the financial services provider’s stock valued at $6,824,000 after purchasing an additional 102,085 shares in the last quarter. Boston Partners lifted its position in shares of Central Pacific Financial by 3.9% during the second quarter. Boston Partners now owns 557,458 shares of the financial services provider’s stock valued at $16,702,000 after purchasing an additional 20,996 shares in the last quarter. Finally, Northern Trust Corp boosted its holdings in Central Pacific Financial by 3.5% during the second quarter. Northern Trust Corp now owns 510,075 shares of the financial services provider’s stock worth $15,281,000 after purchasing an additional 17,230 shares during the last quarter. Institutional investors and hedge funds own 91.74% of the company’s stock.

Shares of CPF opened at $27.97 on Tuesday. The stock has a 50 day moving average of $29.32 and a 200 day moving average of $28.95. The company has a market capitalization of $804.77 million, a price-to-earnings ratio of 13.51 and a beta of 1.04. Central Pacific Financial Corp. has a 12 month low of $26.26 and a 12 month high of $30.82. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.29.

In related news, EVP Arnold D. Martines sold 1,730 shares of the firm’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $29.15, for a total transaction of $50,429.50. Following the completion of the sale, the executive vice president now owns 1,815 shares in the company, valued at $52,907.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director John C. Dean sold 6,700 shares of Central Pacific Financial stock in a transaction dated Friday, December 6th. The stock was sold at an average price of $29.45, for a total transaction of $197,315.00. Following the completion of the sale, the director now directly owns 3,398 shares in the company, valued at approximately $100,071.10. The disclosure for this sale can be found here. In the last three months, insiders sold 21,730 shares of company stock worth $640,866. Insiders own 3.80% of the company’s stock.

CPF has been the subject of a number of recent analyst reports. Zacks Investment Research downgraded shares of Central Pacific Financial from a “hold” rating to a “sell” rating in a research report on Friday, January 3rd. ValuEngine raised shares of Central Pacific Financial from a “sell” rating to a “hold” rating in a research report on Tuesday, October 29th.

Central Pacific Financial 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.

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Institutional Ownership by Quarter for Central Pacific Financial (NYSE:CPF)

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