Advantage Alpha Capital Partners LP Trims Stock Holdings in Bank of Hawaii Corporation $BOH

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 lowered its holdings in Bank of Hawaii Corporation (NYSE:BOH - Free Report) by 60.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,407 shares of the bank's stock after selling 5,294 shares during the quarter. Advantage Alpha Capital Partners LP's holdings in Bank of Hawaii were worth $235,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. Versant Capital Management Inc raised its stake in shares of Bank of Hawaii by 80.2% in the first 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 last quarter. Private Trust Co. NA raised its stake in shares of Bank of Hawaii by 18,333.3% in the first quarter. Private Trust Co. NA now owns 553 shares of the bank's stock worth $38,000 after purchasing an additional 550 shares during the last quarter. Golden State Wealth Management LLC raised its stake in shares of Bank of Hawaii by 110.5% in the first quarter. Golden State Wealth Management LLC now owns 581 shares of the bank's stock worth $40,000 after purchasing an additional 305 shares during the last quarter. Public Employees Retirement System of Ohio purchased a new position in shares of Bank of Hawaii in the fourth quarter worth $49,000. Finally, CWM LLC raised its stake in shares of Bank of Hawaii by 31.9% in the first quarter. CWM LLC now owns 1,643 shares of the bank's stock worth $113,000 after purchasing an additional 397 shares during the last quarter. Hedge funds and other institutional investors own 82.18% of the company's stock.

Bank of Hawaii Price Performance

Bank of Hawaii stock traded up $0.32 during midday trading on Wednesday, reaching $68.84. 244,778 shares of the stock traded hands, compared to its average volume of 425,440. The stock's fifty day moving average is $66.50 and its 200-day moving average is $67.34. Bank of Hawaii Corporation has a 12 month low of $57.44 and a 12 month high of $82.70. The stock has a market cap of $2.74 billion, a P/E ratio of 18.07, a PEG ratio of 0.88 and a beta of 0.80. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.40.

Bank of Hawaii (NYSE:BOH - Get Free Report) last announced its quarterly earnings results on Monday, July 28th. The bank reported $1.06 EPS for the quarter, beating analysts' consensus estimates of $1.04 by $0.02. Bank of Hawaii had a return on equity of 12.67% and a net margin of 16.30%.The company had revenue of $174.48 million during the quarter, compared to analyst estimates of $177.82 million. During the same period in the prior year, the company earned $0.81 earnings per share. As a group, equities research analysts anticipate that Bank of Hawaii Corporation will post 3.97 EPS for the current year.

Bank of Hawaii Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Friday, August 29th will be paid a dividend of $0.70 per share. 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 dividend payout ratio is presently 73.49%.

Analyst Ratings Changes

A number of analysts recently commented on the company. Piper Sandler assumed coverage on Bank of Hawaii in a research report on Thursday, August 21st. They set a "neutral" rating and a $71.00 price objective for the company. Barclays upped their price objective on Bank of Hawaii from $67.00 to $68.00 and gave the company an "underweight" rating in a research report on Tuesday, July 8th. Finally, Stephens reduced their price target on Bank of Hawaii from $78.00 to $76.00 and set an "overweight" rating for the company in a research report on Tuesday, July 29th. One 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. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $75.00.

About Bank of Hawaii

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.