American Century Companies Inc. Sells 36,145 Shares of Bank of Hawaii Corporation $BOH

Key Points

• American Century Companies Inc. has reduced its stake in Bank of Hawaii Corporation by 5.1%, selling 36,145 shares and now owning approximately 1.68% of the company, valued at $45.95 million.
• Several other institutional investors increased their positions in Bank of Hawaii, with Deutsche Bank AG raising its holdings by 63.0% during the first quarter.
• The stock has an average rating of "Reduce" from analysts, with a current price target of $74.40, while the stock recently traded at approximately $65.60.

American Century Companies Inc. decreased its position in shares of Bank of Hawaii Corporation (NYSE:BOH - Free Report) by 5.1% during the first quarter, according to its most recent filing with the SEC. The firm owned 666,229 shares of the bank's stock after selling 36,145 shares during the period. American Century Companies Inc. owned about 1.68% of Bank of Hawaii worth $45,950,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Dimensional Fund Advisors LP grew its stake in Bank of Hawaii by 5.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 840,574 shares of the bank's stock worth $59,884,000 after purchasing an additional 42,719 shares during the period. Balyasny Asset Management L.P. bought a new stake in shares of Bank of Hawaii during the 4th quarter valued at $54,309,000. Ameriprise Financial Inc. boosted its holdings in shares of Bank of Hawaii by 558.1% during the 4th quarter. Ameriprise Financial Inc. now owns 646,890 shares of the bank's stock valued at $46,084,000 after buying an additional 548,599 shares in the last quarter. Northern Trust Corp grew its position in shares of Bank of Hawaii by 9.2% in the 4th quarter. Northern Trust Corp now owns 440,635 shares of the bank's stock worth $31,391,000 after buying an additional 37,078 shares during the period. Finally, Natixis Advisors LLC increased its stake in shares of Bank of Hawaii by 13.0% in the 1st quarter. Natixis Advisors LLC now owns 325,174 shares of the bank's stock worth $22,427,000 after acquiring an additional 37,413 shares in the last quarter. Hedge funds and other institutional investors own 82.18% of the company's stock.

Bank of Hawaii Stock Down 1.1%

BOH stock traded down $0.7650 during midday trading on Monday, hitting $67.9150. The company's stock had a trading volume of 400,483 shares, compared to its average volume of 494,035. The firm's 50-day moving average is $66.42 and its 200-day moving average is $67.33. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.40. Bank of Hawaii Corporation has a 12 month low of $57.44 and a 12 month high of $82.70. The company has a market cap of $2.70 billion, a PE ratio of 17.83, a P/E/G ratio of 0.89 and a beta of 0.80.

Bank of Hawaii (NYSE:BOH - Get Free Report) last posted its quarterly earnings results on Monday, July 28th. The bank reported $1.06 earnings per share for the quarter, topping the consensus estimate of $1.04 by $0.02. The firm had revenue of $174.48 million during the quarter, compared to analysts' expectations of $177.82 million. Bank of Hawaii had a return on equity of 12.67% and a net margin of 16.30%.During the same quarter in the previous year, the business earned $0.81 earnings per share. On average, equities research analysts forecast that Bank of Hawaii Corporation will post 3.97 earnings per share for the current fiscal year.

Bank of Hawaii Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Friday, August 29th will be given a $0.70 dividend. The ex-dividend date of this dividend is Friday, August 29th. This represents a $2.80 dividend on an annualized basis and a yield of 4.1%. Bank of Hawaii's payout ratio is 73.49%.

Analysts Set New Price Targets

BOH has been the topic of several research reports. Barclays boosted their price objective on shares of Bank of Hawaii from $67.00 to $68.00 and gave the stock an "underweight" rating in a research note on Tuesday, July 8th. Stephens dropped their price target on Bank of Hawaii from $78.00 to $76.00 and set an "overweight" rating on the stock in a research report on Tuesday, July 29th. Finally, Piper Sandler began coverage on Bank of Hawaii in a research note on Thursday. They issued a "neutral" rating and a $71.00 price target on the stock. One investment analyst has rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $75.00.

Bank of Hawaii Company Profile

Bank of Hawaii Corporation operates as the bank holding company for Bank of Hawaii that provides various financial products and services in Hawaii, Guam, and other Pacific Islands. It operates in three segments: Consumer Banking, Commercial Banking, and Treasury and Other. The Consumer Banking segment offers checking, savings, and time deposit accounts; residential mortgage loans, home equity lines of credit, automobile loans and leases, overdraft lines of credit, installment loans, small business loans and leases, and credit cards; private and international client banking, investment, credit, and trust services to individuals and families, as well as high-net-worth individuals; investment management; institutional investment advisory services to corporations, government entities, and foundations; and brokerage offerings, including equities, mutual funds, life insurance, and annuity products.