Bank of Hawaii Corporation $BOH Shares Sold by Advantage Alpha Capital Partners LP

Key Points

• Advantage Alpha Capital Partners LP has reduced its stake in Bank of Hawaii Corporation by 60.8%, now owning only 3,407 shares valued at $235,000.
• The bank reported quarterly earnings of $1.06 per share, exceeding estimates, but its revenue fell short at $174.48 million compared to expectations of $177.82 million.
• Bank of Hawaii has announced a quarterly dividend of $0.70 per share, yielding 4.1%, with a dividend payout ratio of 73.49%.

Advantage Alpha Capital Partners LP cut its stake in Bank of Hawaii Corporation (NYSE:BOH - Free Report) by 60.8% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,407 shares of the bank's stock after selling 5,294 shares during the period. Advantage Alpha Capital Partners LP's holdings in Bank of Hawaii were worth $235,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Ameriprise Financial Inc. boosted its holdings in Bank of Hawaii by 9.2% in the first quarter. Ameriprise Financial Inc. now owns 706,105 shares of the bank's stock valued at $48,700,000 after purchasing an additional 59,215 shares during the period. Vestmark Advisory Solutions Inc. lifted its holdings in Bank of Hawaii by 23.3% during the 1st quarter. Vestmark Advisory Solutions Inc. now owns 9,610 shares of the bank's stock worth $663,000 after buying an additional 1,813 shares during the last quarter. HighTower Advisors LLC lifted its holdings in Bank of Hawaii by 10.7% during the 1st quarter. HighTower Advisors LLC now owns 27,695 shares of the bank's stock worth $1,910,000 after buying an additional 2,671 shares during the last quarter. Public Sector Pension Investment Board lifted its holdings in Bank of Hawaii by 27.3% during the 1st quarter. Public Sector Pension Investment Board now owns 126,029 shares of the bank's stock worth $8,692,000 after buying an additional 27,017 shares during the last quarter. Finally, Nuveen LLC purchased a new stake in Bank of Hawaii during the 1st quarter worth about $7,066,000. 82.18% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on BOH. Barclays lifted their price target on Bank of Hawaii from $67.00 to $68.00 and gave the stock an "underweight" rating in a report on Tuesday, July 8th. Stephens decreased their price target on Bank of Hawaii from $78.00 to $76.00 and set an "overweight" rating for the company in a report on Tuesday, July 29th. Finally, Piper Sandler began coverage on Bank of Hawaii in a report on Thursday, August 21st. They set a "neutral" rating and a $71.00 price target for the company. One equities research analyst has rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $75.00.

Bank of Hawaii Stock Performance

Shares of BOH traded down $0.42 during midday trading on Thursday, reaching $68.29. 55,023 shares of the stock were exchanged, compared to its average volume of 423,656. The business's 50-day moving average price is $66.57 and its 200 day moving average price is $67.35. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.70 and a quick ratio of 0.70. Bank of Hawaii Corporation has a twelve month low of $57.44 and a twelve month high of $82.70. The company has a market capitalization of $2.72 billion, a price-to-earnings ratio of 17.94, a PEG ratio of 0.88 and a beta of 0.80.

Bank of Hawaii (NYSE:BOH - Get Free Report) last posted its earnings results on Monday, July 28th. The bank reported $1.06 EPS for the quarter, topping analysts' consensus estimates of $1.04 by $0.02. The business had revenue of $174.48 million for 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 firm earned $0.81 earnings per share. On average, sell-side analysts expect that Bank of Hawaii Corporation will post 3.97 EPS for the current fiscal year.

Bank of Hawaii Announces Dividend

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

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.