California Public Employees Retirement System reduced its position in shares of Central Pacific Financial Inc. (NYSE:CPF) by 2.0% during the third quarter, Holdings Channel reports. The institutional investor owned 150,200 shares of the financial services provider’s stock after selling 3,000 shares during the period. California Public Employees Retirement System’s holdings in Central Pacific Financial were worth $3,784,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of the stock. Teacher Retirement System of Texas raised its stake in shares of Central Pacific Financial by 14.0% in the second quarter. Teacher Retirement System of Texas now owns 4,388 shares of the financial services provider’s stock worth $104,000 after buying an additional 540 shares in the last quarter. Mason Street Advisors LLC bought a new stake in shares of Central Pacific Financial during the second quarter worth $143,000. Sei Investments Co. raised its stake in shares of Central Pacific Financial by 173.6% in the second quarter. Sei Investments Co. now owns 7,121 shares of the financial services provider’s stock worth $168,000 after buying an additional 4,518 shares in the last quarter. Capstone Asset Management Co. bought a new stake in shares of Central Pacific Financial during the second quarter worth $212,000. Finally, BNP Paribas Arbitrage SA raised its stake in shares of Central Pacific Financial by 103.1% in the second quarter. BNP Paribas Arbitrage SA now owns 9,667 shares of the financial services provider’s stock worth $228,000 after buying an additional 4,907 shares in the last quarter. Hedge funds and other institutional investors own 93.63% of the company’s stock.

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

Central Pacific Financial Inc. (NYSE:CPF) traded up 0.31% during trading on Wednesday, reaching $29.55. 155,753 shares of the company traded hands. Central Pacific Financial Inc. has a 12-month low of $18.47 and a 12-month high of $30.71. The firm has a market capitalization of $911.03 million, a price-to-earnings ratio of 20.39 and a beta of 1.07. The firm’s 50 day moving average price is $27.00 and its 200 day moving average price is $25.10.

Central Pacific Financial (NYSE:CPF) last posted its earnings results on Thursday, October 27th. The financial services provider reported $0.37 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.38 by $0.01. Central Pacific Financial had a return on equity of 8.96% and a net margin of 22.03%. During the same quarter in the prior year, the business posted $0.38 EPS. Equities research analysts expect that Central Pacific Financial Inc. will post $1.47 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 15th. Investors of record on Wednesday, November 30th will be issued a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 2.17%. The ex-dividend date of this dividend is Monday, November 28th. Central Pacific Financial’s dividend payout ratio (DPR) is presently 44.14%.

COPYRIGHT VIOLATION NOTICE: This article was posted by Financial Market News and is the sole property of of Financial Market News. If you are viewing this article on another domain, it was copied illegally and reposted in violation of U.S. & international trademark and copyright legislation. The original version of this article can be read at http://www.financial-market-news.com/california-public-employees-retirement-system-decreases-stake-in-central-pacific-financial-inc-cpf/1211113/.

A number of equities analysts have recently commented on the stock. Zacks Investment Research upgraded shares of Central Pacific Financial from a “sell” rating to a “hold” rating in a report on Friday, November 18th. Compass Point lowered shares of Central Pacific Financial from a “buy” rating to a “neutral” rating in a report on Friday, November 18th. Finally, Raymond James Financial Inc. lifted their price target on shares of Central Pacific Financial from $25.00 to $26.00 and gave the stock an “outperform” rating in a report on Tuesday, August 2nd. One analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $25.80.

In related news, insider John C. Dean sold 10,174 shares of the company’s stock in a transaction that occurred on Wednesday, November 23rd. The shares were sold at an average price of $30.35, for a total transaction of $308,780.90. Following the sale, the insider now owns 8,122 shares of the company’s stock, valued at approximately $246,502.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider John C. Dean sold 10,652 shares of the company’s stock in a transaction that occurred on Tuesday, November 22nd. The stock was sold at an average price of $30.25, for a total transaction of $322,223.00. Following the sale, the insider now directly owns 8,122 shares in the company, valued at approximately $245,690.50. The disclosure for this sale can be found here. Corporate insiders own 4.20% of the company’s stock.

About Central Pacific Financial

Central Pacific Financial Corp. serves as the bank holding company for its bank subsidiary, Central Pacific Bank (the bank). The Company’s segments include Banking Operations, Treasury and All Others. The Banking Operations segment includes construction and commercial real estate lending, commercial lending, residential mortgage lending, consumer lending, trust services, retail brokerage services, and the Company’s retail branch offices, which provide a range of deposit and loan products, as well as various other banking services.

5 Day Chart for NYSE:CPF

Want to see what other hedge funds are holding CPF? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Central Pacific Financial Inc. (NYSE:CPF).

Receive News & Ratings for Central Pacific Financial Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Central Pacific Financial Inc. and related companies with MarketBeat.com's FREE daily email newsletter.