Cramer Rosenthal Mcglynn LLC Has $35.09 Million Stake 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 decreased its holdings in Bank of Hawaii Corporation (NYSE:BOH - Free Report) by 9.7% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 508,794 shares of the bank's stock after selling 54,465 shares during the quarter. Bank of Hawaii makes up 2.5% of Cramer Rosenthal Mcglynn LLC's portfolio, making the stock its 4th biggest position. Cramer Rosenthal Mcglynn LLC owned 1.28% of Bank of Hawaii worth $35,092,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Versant Capital Management Inc lifted 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 acquiring an additional 174 shares in the last quarter. Private Trust Co. NA lifted 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 acquiring an additional 550 shares in the last quarter. Golden State Wealth Management LLC lifted 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 acquiring an additional 305 shares in the last quarter. Public Employees Retirement System of Ohio acquired a new position in shares of Bank of Hawaii in the fourth quarter worth about $49,000. Finally, CWM LLC lifted 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 acquiring an additional 397 shares in the last quarter. Institutional investors and hedge funds own 82.18% of the company's stock.

Wall Street Analyst Weigh In

BOH has been the topic of several recent analyst reports. Stephens cut their price target on Bank of Hawaii from $78.00 to $76.00 and set an "overweight" rating on the stock in a research note on Tuesday, July 29th. Piper Sandler began coverage on Bank of Hawaii in a report on Thursday, August 21st. They issued a "neutral" rating and a $71.00 price objective for the company. Finally, Barclays boosted their price objective on Bank of Hawaii from $67.00 to $68.00 and gave the company an "underweight" rating in a report on Tuesday, July 8th. One research analyst has rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $75.00.

Bank of Hawaii Stock Up 0.5%

Bank of Hawaii stock traded up $0.32 during midday trading on Wednesday, hitting $68.84. The stock had a trading volume of 246,621 shares, compared to its average volume of 412,600. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.40. The stock has a market cap of $2.74 billion, a P/E ratio of 18.07, a P/E/G ratio of 0.88 and a beta of 0.80. Bank of Hawaii Corporation has a 12 month low of $57.44 and a 12 month high of $82.70. The business has a fifty day moving average price of $66.57 and a 200 day moving average price of $67.35.

Bank of Hawaii (NYSE:BOH - Get Free Report) last announced its quarterly earnings data on Monday, July 28th. The bank reported $1.06 earnings per share for the quarter, beating the consensus estimate of $1.04 by $0.02. The firm had revenue of $174.48 million during 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 earned $0.81 earnings per share. Research analysts predict that Bank of Hawaii Corporation will post 3.97 EPS for the current year.

Bank of Hawaii Announces Dividend

The business also recently announced 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. 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 is 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.