Cramer Rosenthal Mcglynn LLC Has $35.09 Million Position in Bank of Hawaii Corporation $BOH

Key Points

• Cramer Rosenthal Mcglynn LLC has reduced its shareholding in Bank of Hawaii Corporation by 9.7%, selling 54,465 shares.
• Bank of Hawaii recently reported earnings of $1.06 per share for the last quarter, beating estimates, but its revenue fell short of expectations.
• The company announced a quarterly dividend of $0.70 with a payout ratio of 73.49%, indicating a yield of 4.1%.

Cramer Rosenthal Mcglynn LLC trimmed its stake in shares of Bank of Hawaii Corporation (NYSE:BOH - Free Report) by 9.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 508,794 shares of the bank's stock after selling 54,465 shares during the period. Bank of Hawaii makes up about 2.5% of Cramer Rosenthal Mcglynn LLC's investment portfolio, making the stock its 4th biggest position. Cramer Rosenthal Mcglynn LLC owned approximately 1.28% of Bank of Hawaii worth $35,092,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of BOH. Versant Capital Management Inc lifted its holdings in Bank of Hawaii by 80.2% in the first quarter. Versant Capital Management Inc now owns 391 shares of the bank's stock valued at $27,000 after buying an additional 174 shares during the period. Private Trust Co. NA increased its stake in Bank of Hawaii by 18,333.3% in the first quarter. Private Trust Co. NA now owns 553 shares of the bank's stock valued at $38,000 after purchasing an additional 550 shares in the last quarter. Golden State Wealth Management LLC increased its stake in Bank of Hawaii by 110.5% in the first quarter. Golden State Wealth Management LLC now owns 581 shares of the bank's stock valued at $40,000 after purchasing an additional 305 shares in the last quarter. Public Employees Retirement System of Ohio bought a new stake in Bank of Hawaii in the fourth quarter valued at approximately $49,000. Finally, CWM LLC increased its stake in Bank of Hawaii by 31.9% in the first quarter. CWM LLC now owns 1,643 shares of the bank's stock valued at $113,000 after purchasing an additional 397 shares in the last quarter. 82.18% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. Piper Sandler assumed coverage on shares of 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 raised their target price on shares of 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 decreased their target price on shares of 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 equities research analyst has rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, Bank of Hawaii currently has a consensus rating of "Hold" and an average price target of $75.00.

Bank of Hawaii Stock Performance

Shares of NYSE BOH traded down $0.58 during mid-day trading on Friday, reaching $67.95. 357,602 shares of the company were exchanged, compared to its average volume of 385,791. Bank of Hawaii Corporation has a twelve month low of $57.44 and a twelve month high of $82.70. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.40. The company's 50-day simple moving average is $66.70 and its 200-day simple moving average is $67.27. The stock has a market capitalization of $2.70 billion, a P/E ratio of 17.83, a P/E/G ratio of 0.88 and a beta of 0.80.

Bank of Hawaii (NYSE:BOH - Get Free Report) last issued its quarterly earnings data 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 business had revenue of $174.48 million during the quarter, compared to analysts' expectations of $177.82 million. Bank of Hawaii had a net margin of 16.30% and a return on equity of 12.67%. During the same quarter in the previous year, the company earned $0.81 EPS. As a group, research analysts predict that Bank of Hawaii Corporation will post 3.97 earnings per share for the current year.

Bank of Hawaii Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Friday, August 29th will be issued a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 4.1%. The ex-dividend date is Friday, August 29th. Bank of Hawaii's dividend payout ratio (DPR) is currently 73.49%.

Bank of Hawaii Company 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.