AlphaQuest LLC Cuts Stock Holdings in Bank of Hawaii Corporation $BOH

Key Points

• AlphaQuest LLC significantly reduced its holdings in Bank of Hawaii Corporation by 97.5%, selling 35,183 shares, leaving it with just 893 shares valued at $62,000.
• Several institutional investors, including Ameriprise Financial and UBS AM, have increased their positions in Bank of Hawaii, indicating strong institutional interest.
• The Bank of Hawaii recently declared a quarterly dividend of $0.70, representing a yield of 4.2%, with a payout ratio of 73.49%.

AlphaQuest LLC decreased its stake in Bank of Hawaii Corporation (NYSE:BOH - Free Report) by 97.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 893 shares of the bank's stock after selling 35,183 shares during the quarter. AlphaQuest LLC's holdings in Bank of Hawaii were worth $62,000 as of its most recent SEC filing.

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

Analyst Ratings Changes

A number of analysts have weighed in on BOH shares. Barclays increased their price objective on Bank of Hawaii from $67.00 to $68.00 and gave the stock an "underweight" rating in a research report on Tuesday, July 8th. Stephens dropped their target price on Bank of Hawaii from $78.00 to $76.00 and set an "overweight" rating on the stock in a report on Tuesday, July 29th. Finally, Piper Sandler assumed coverage on Bank of Hawaii in a research report on Thursday, August 21st. They issued a "neutral" rating and a $71.00 target price for the company. One investment analyst has rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $75.00.

Bank of Hawaii Price Performance

Shares of BOH stock traded down $0.28 during trading hours on Monday, hitting $68.03. The company had a trading volume of 92,748 shares, compared to its average volume of 420,687. The firm has a market capitalization of $2.71 billion, a price-to-earnings ratio of 17.84, a PEG ratio of 0.88 and a beta of 0.84. Bank of Hawaii Corporation has a 12 month low of $57.44 and a 12 month high of $82.70. The firm's fifty day moving average is $66.75 and its 200 day moving average is $67.01. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.70 and a current ratio of 0.70.

Bank of Hawaii (NYSE:BOH - Get Free Report) last posted its 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 for the quarter, compared to analyst estimates 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 period in the previous year, the company posted $0.81 earnings per share. On average, sell-side analysts predict that Bank of Hawaii Corporation will post 3.97 EPS for the current fiscal year.

Bank of Hawaii Dividend Announcement

The company 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 dividend of $0.70 per share. The ex-dividend date of this dividend is Friday, August 29th. This represents a $2.80 annualized dividend and a dividend yield of 4.1%. Bank of Hawaii's dividend payout ratio (DPR) is currently 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.