Bank of Hawaii Co. (NYSE:BOH) Stake Lessened by First Hawaiian Bank

First Hawaiian Bank decreased its stake in Bank of Hawaii Co. (NYSE:BOH - Free Report) by 33.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 38,812 shares of the bank's stock after selling 19,814 shares during the period. First Hawaiian Bank owned approximately 0.10% of Bank of Hawaii worth $2,677,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of BOH. Balyasny Asset Management L.P. purchased a new stake in shares of Bank of Hawaii during the fourth quarter valued at approximately $54,309,000. Ameriprise Financial Inc. increased its stake in Bank of Hawaii by 558.1% during the 4th quarter. Ameriprise Financial Inc. now owns 646,890 shares of the bank's stock worth $46,084,000 after buying an additional 548,599 shares during the period. Norges Bank purchased a new stake in Bank of Hawaii during the 4th quarter worth $27,495,000. Freestone Grove Partners LP purchased a new stake in Bank of Hawaii during the 4th quarter worth $13,678,000. Finally, JPMorgan Chase & Co. increased its stake in Bank of Hawaii by 188.8% during the 4th quarter. JPMorgan Chase & Co. now owns 250,094 shares of the bank's stock worth $17,817,000 after buying an additional 163,503 shares during the period. Hedge funds and other institutional investors own 82.18% of the company's stock.

Bank of Hawaii Stock Down 1.4%

BOH traded down $0.93 during trading on Friday, hitting $66.52. The company had a trading volume of 261,057 shares, compared to its average volume of 381,449. The company has a market cap of $2.64 billion, a PE ratio of 19.23 and a beta of 0.76. The business has a 50-day moving average of $66.44 and a 200-day moving average of $70.47. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.71 and a quick ratio of 0.71. Bank of Hawaii Co. has a 1-year low of $54.98 and a 1-year high of $82.70.

Bank of Hawaii (NYSE:BOH - Get Free Report) last released its earnings results on Monday, April 21st. The bank reported $0.97 earnings per share for the quarter, topping 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 net margin of 14.47% and a return on equity of 11.81%. During the same quarter in the previous year, the firm earned $0.87 EPS. As a group, 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. Investors of record on Friday, May 30th will be issued a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 4.21%. The ex-dividend date of this dividend is Friday, May 30th. Bank of Hawaii's dividend payout ratio is currently 78.65%.

Insider Activity at Bank of Hawaii

In other news, insider Taryn L. Salmon sold 1,652 shares of the business's stock in a transaction that occurred on Thursday, April 24th. The stock was sold at an average price of $66.15, for a total value of $109,279.80. Following the completion of the sale, the insider now directly owns 6,442 shares in the company, valued at approximately $426,138.30. The trade was a 20.41% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.07% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Separately, Barclays lifted their target price on Bank of Hawaii from $64.00 to $67.00 and gave the stock an "underweight" rating in a research report on Tuesday, April 22nd. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $73.17.

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.