First Hawaiian Bank cut its holdings in Bank of Hawaii Co. (NYSE:BOH - Free Report) by 33.8% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 38,812 shares of the bank's stock after selling 19,814 shares during the quarter. First Hawaiian Bank owned 0.10% of Bank of Hawaii worth $2,677,000 as of its most recent SEC filing.
Several other large investors have also modified their holdings of the business. Wealth Enhancement Advisory Services LLC acquired a new position in shares of Bank of Hawaii during the fourth quarter worth approximately $224,000. Public Employees Retirement System of Ohio purchased a new position in shares of Bank of Hawaii in the 4th quarter worth approximately $49,000. GTS Securities LLC bought a new position in Bank of Hawaii in the fourth quarter valued at $223,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of Bank of Hawaii by 168.6% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 245,495 shares of the bank's stock valued at $17,489,000 after purchasing an additional 154,107 shares in the last quarter. Finally, Squarepoint Ops LLC lifted its stake in Bank of Hawaii by 168.5% in the 4th quarter. Squarepoint Ops LLC now owns 121,053 shares of the bank's stock worth $8,624,000 after purchasing an additional 75,961 shares in the last quarter. Institutional investors and hedge funds own 82.18% of the company's stock.
Insiders Place Their Bets
In related news, insider Taryn L. Salmon sold 1,652 shares of the business's stock in a transaction 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 now owns 6,442 shares in the company, valued at approximately $426,138.30. The trade was a 20.41% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 2.07% of the company's stock.
Wall Street Analyst Weigh In
Separately, Barclays lifted their target price on shares of Bank of Hawaii from $64.00 to $67.00 and gave the company an "underweight" rating in a research report on Tuesday, April 22nd. Two research analysts have rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, Bank of Hawaii has a consensus rating of "Hold" and a consensus price target of $73.17.
Read Our Latest Stock Report on BOH
Bank of Hawaii Stock Up 0.7%
Shares of Bank of Hawaii stock traded up $0.48 during trading on Tuesday, reaching $66.35. The company's stock had a trading volume of 68,425 shares, compared to its average volume of 380,356. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.42. Bank of Hawaii Co. has a 1-year low of $54.98 and a 1-year high of $82.70. The company has a 50-day simple moving average of $66.35 and a two-hundred day simple moving average of $70.34. The company has a market cap of $2.64 billion, a price-to-earnings ratio of 19.18 and a beta of 0.78.
Bank of Hawaii (NYSE:BOH - Get Free Report) last announced its earnings results on Monday, April 21st. The bank reported $0.97 earnings per share for the quarter, beating the consensus estimate of $0.89 by $0.08. The company had revenue of $169.87 million during the quarter, compared to the consensus estimate of $168.65 million. Bank of Hawaii had a return on equity of 11.81% and a net margin of 14.47%. During the same period last year, the firm earned $0.87 earnings per share. As a group, equities analysts forecast that Bank of Hawaii Co. will post 3.97 earnings per share for the current year.
Bank of Hawaii Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 13th. Stockholders of record on Friday, May 30th will be given a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a dividend yield of 4.22%. The ex-dividend date of this dividend is Friday, May 30th. Bank of Hawaii's dividend payout ratio (DPR) is presently 78.65%.
About Bank of Hawaii
(
Free Report)
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.
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