Bank of Hawaii Corporation (NYSE:BOH) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp cut its holdings in shares of Bank of Hawaii Corporation (NYSE:BOH - Free Report) by 3.0% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 406,978 shares of the bank's stock after selling 12,404 shares during the period. Bank of New York Mellon Corp owned about 1.02% of Bank of Hawaii worth $28,069,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of BOH. Versant Capital Management Inc lifted its position in shares of Bank of Hawaii by 80.2% during 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 lifted its position in shares of Bank of Hawaii by 18,333.3% during 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 lifted its position in shares of Bank of Hawaii by 110.5% during 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 bought a new position in shares of Bank of Hawaii during the fourth quarter worth about $49,000. Finally, Headlands Technologies LLC lifted its position in shares of 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 purchasing an additional 703 shares during the last quarter. 82.18% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Bank of Hawaii

In other Bank of Hawaii news, insider Taryn L. Salmon sold 1,652 shares of the firm's stock in a transaction that occurred on Thursday, April 24th. The shares were sold at an average price of $66.15, for a total value of $109,279.80. Following the sale, the insider owned 6,442 shares in the company, valued at approximately $426,138.30. This trade represents a 20.41% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 2.07% of the company's stock.

Wall Street Analyst Weigh In

Separately, Barclays increased their price target on shares of Bank of Hawaii from $67.00 to $68.00 and gave the stock an "underweight" rating in a research report on Tuesday, July 8th. Two analysts have rated the stock with a sell rating, two have issued a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $77.20.

Bank of Hawaii Stock Performance

NYSE BOH traded down $0.56 during trading hours on Friday, reaching $67.54. The company's stock had a trading volume of 284,312 shares, compared to its average volume of 381,054. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.41. The business has a 50-day simple moving average of $67.90 and a 200 day simple moving average of $68.70. Bank of Hawaii Corporation has a 52 week low of $57.45 and a 52 week high of $82.70. The stock has a market cap of $2.68 billion, a PE ratio of 18.97, a PEG ratio of 1.08 and a beta of 0.77.

Bank of Hawaii (NYSE:BOH - Get Free Report) last issued its earnings results on Monday, April 21st. The bank reported $0.97 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.89 by $0.08. Bank of Hawaii had a net margin of 15.12% and a return on equity of 12.16%. The firm had revenue of $169.87 million for the quarter, compared to analysts' expectations of $168.65 million. During the same quarter last year, the company posted $0.87 earnings per share. Equities research analysts predict that Bank of Hawaii Corporation will post 3.97 earnings per share for the current fiscal year.

Bank of Hawaii Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, June 13th. Shareholders of record on Friday, May 30th were paid a $0.70 dividend. The ex-dividend date was Friday, May 30th. This represents a $2.80 annualized dividend and a dividend yield of 4.15%. Bank of Hawaii's payout ratio is currently 78.65%.

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.