First Hawaiian Bank Sells 26,202 Shares of Bank of Hawaii Corporation $BOH

Key Points

• First Hawaiian Bank has reduced its holdings in Bank of Hawaii Corporation by 44.7% in the first quarter, now owning approximately 0.08% of the company valued at around $2.24 million.
• Bank of Hawaii's quarterly earnings surpassed estimates with $1.06 EPS, beating the consensus of $1.04 EPS and reflecting a significant growth compared to $0.81 EPS from the previous year.
• The company has declared a $0.70 quarterly dividend, which translates to an annual rate of $2.80 and a dividend yield of 4.1%.

First Hawaiian Bank lowered its position in Bank of Hawaii Corporation (NYSE:BOH - Free Report) by 44.7% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 32,424 shares of the bank's stock after selling 26,202 shares during the quarter. First Hawaiian Bank owned about 0.08% of Bank of Hawaii worth $2,236,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Versant Capital Management Inc increased its stake in Bank of Hawaii by 80.2% in the 1st quarter. Versant Capital Management Inc now owns 391 shares of the bank's stock worth $27,000 after acquiring an additional 174 shares during the last quarter. Private Trust Co. NA grew its holdings 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 in the last quarter. Golden State Wealth Management LLC increased its position 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 purchasing an additional 305 shares during the last quarter. Strs Ohio bought a new stake in Bank of Hawaii during the first quarter valued at approximately $41,000. Finally, Public Employees Retirement System of Ohio purchased a new position in Bank of Hawaii in the 4th quarter worth approximately $49,000. Hedge funds and other institutional investors own 82.18% of the company's stock.

Analyst Ratings Changes

BOH has been the subject of several research reports. Stephens cut 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. Piper Sandler initiated 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 target on the stock. Finally, Barclays increased their target price on shares of 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 given a Sell rating to the stock. Based on data from MarketBeat.com, Bank of Hawaii has a consensus rating of "Hold" and a consensus price target of $75.00.

Bank of Hawaii Trading Up 1.4%

BOH stock traded up $0.95 on Thursday, reaching $67.88. The company's stock had a trading volume of 258,068 shares, compared to its average volume of 418,414. The firm has a market cap of $2.70 billion, a PE ratio of 17.82, a PEG ratio of 0.85 and a beta of 0.84. The business has a fifty day simple moving average of $66.33 and a two-hundred day simple moving average of $66.87. Bank of Hawaii Corporation has a 12-month low of $57.44 and a 12-month high of $82.70. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.70 and a current ratio of 0.70.

Bank of Hawaii (NYSE:BOH - Get Free Report) last issued its quarterly earnings data on Monday, July 28th. The bank reported $1.06 EPS 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 analyst estimates 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 period in the prior year, the business earned $0.81 EPS. As a group, research analysts forecast that Bank of Hawaii Corporation will post 3.97 EPS for the current year.

Bank of Hawaii Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Friday, August 29th were given a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 4.1%. The ex-dividend date of this dividend was Friday, August 29th. Bank of Hawaii's payout ratio is presently 73.49%.

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.