Congress Asset Management Co. Trims Position in Bank of Hawaii Co. (NYSE:BOH)

Congress Asset Management Co. trimmed its position in shares of Bank of Hawaii Co. (NYSE:BOH - Free Report) by 5.8% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 120,080 shares of the bank's stock after selling 7,420 shares during the quarter. Congress Asset Management Co. owned 0.30% of Bank of Hawaii worth $8,282,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the company. Versant Capital Management Inc increased its position in Bank of Hawaii by 80.2% during the 1st quarter. Versant Capital Management Inc now owns 391 shares of the bank's stock worth $27,000 after purchasing an additional 174 shares during the period. Public Employees Retirement System of Ohio purchased a new position in shares of Bank of Hawaii in the 4th quarter valued at about $49,000. SBI Securities Co. Ltd. acquired a new stake in shares of Bank of Hawaii in the fourth quarter valued at about $50,000. Headlands Technologies LLC boosted its holdings in Bank of Hawaii by 285.8% during the fourth quarter. Headlands Technologies LLC now owns 949 shares of the bank's stock worth $68,000 after buying an additional 703 shares in the last quarter. Finally, CoreFirst Bank & Trust acquired a new position in Bank of Hawaii during the fourth quarter worth about $70,000. 82.18% of the stock is owned by hedge funds and other institutional investors.

Bank of Hawaii Price Performance

NYSE BOH traded down $1.05 during trading hours on Wednesday, reaching $67.21. The company's stock had a trading volume of 151,953 shares, compared to its average volume of 382,029. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.71 and a current ratio of 0.71. The stock has a market cap of $2.67 billion, a PE ratio of 19.43 and a beta of 0.77. The company's 50-day moving average is $66.17 and its two-hundred day moving average is $69.94. Bank of Hawaii Co. has a fifty-two week low of $54.98 and a fifty-two week high of $82.70.

Bank of Hawaii (NYSE:BOH - Get Free Report) last issued its quarterly earnings data on Monday, April 21st. The bank reported $0.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.89 by $0.08. The firm had revenue of $169.87 million during the quarter, compared to the consensus estimate of $168.65 million. Bank of Hawaii had a return on equity of 11.81% and a net margin of 14.47%. During the same period in the previous year, the firm posted $0.87 EPS. Analysts forecast that Bank of Hawaii Co. will post 3.97 EPS for the current year.

Bank of Hawaii Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 13th. Investors of record on Friday, May 30th will be paid a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 4.17%. The ex-dividend date of this dividend is Friday, May 30th. Bank of Hawaii's payout ratio is currently 78.65%.

Analyst Ratings Changes

Separately, Barclays lifted their price target on shares of Bank of Hawaii from $64.00 to $67.00 and gave the company an "underweight" rating in a research report on Tuesday, April 22nd. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company's stock. According to data from MarketBeat.com, Bank of Hawaii presently has a consensus rating of "Hold" and an average target price of $73.17.

Insider Buying and Selling

In other Bank of Hawaii news, insider Taryn L. Salmon sold 1,652 shares of the company's stock in a transaction dated Thursday, April 24th. The shares were sold at an average price of $66.15, for a total value of $109,279.80. Following the transaction, the insider now directly owns 6,442 shares in the company, valued at approximately $426,138.30. This represents a 20.41% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 2.07% of the stock is currently owned by company insiders.

Bank of Hawaii 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.