First Hawaiian Bank Has $2.24 Million Stock Position in 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 first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 32,424 shares of the bank's stock after selling 26,202 shares during the period. First Hawaiian Bank owned 0.08% of Bank of Hawaii worth $2,236,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Principal Financial Group Inc. raised its holdings in shares of Bank of Hawaii by 2.7% during the 1st quarter. Principal Financial Group Inc. now owns 197,888 shares of the bank's stock valued at $13,648,000 after purchasing an additional 5,170 shares in the last quarter. Private Trust Co. NA increased its position in 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 buying an additional 550 shares during the last quarter. Cambridge Investment Research Advisors Inc. raised its holdings in Bank of Hawaii by 41.9% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 11,625 shares of the bank's stock valued at $802,000 after buying an additional 3,433 shares in the last quarter. Oppenheimer Asset Management Inc. raised its holdings in Bank of Hawaii by 12.4% during the first quarter. Oppenheimer Asset Management Inc. now owns 11,691 shares of the bank's stock valued at $806,000 after buying an additional 1,291 shares in the last quarter. Finally, Golden State Wealth Management LLC raised its holdings in Bank of Hawaii by 110.5% during the first quarter. Golden State Wealth Management LLC now owns 581 shares of the bank's stock valued at $40,000 after buying an additional 305 shares in the last quarter. Institutional investors own 82.18% of the company's stock.

Bank of Hawaii Stock Performance

Shares of NYSE:BOH traded down $0.86 during trading on Tuesday, hitting $65.76. 270,019 shares of the stock were exchanged, compared to its average volume of 419,594. Bank of Hawaii Corporation has a 1-year low of $57.44 and a 1-year high of $82.70. The company has a market capitalization of $2.62 billion, a price-to-earnings ratio of 17.26, a price-to-earnings-growth ratio of 0.88 and a beta of 0.84. The company's fifty day simple moving average is $66.49 and its 200-day simple moving average is $66.88. 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 announced its quarterly earnings results on Monday, July 28th. The bank reported $1.06 earnings per share (EPS) 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 the consensus estimate 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 last year, the firm posted $0.81 EPS. Sell-side analysts expect that Bank of Hawaii Corporation will post 3.97 EPS for the current fiscal year.

Bank of Hawaii Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Friday, August 29th were issued a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 4.3%. The ex-dividend date of this dividend was Friday, August 29th. Bank of Hawaii's payout ratio is currently 73.49%.

Analysts Set New Price Targets

Several analysts have recently issued reports on BOH shares. Stephens decreased their price target on Bank of Hawaii from $78.00 to $76.00 and set an "overweight" rating for the company in a research note on Tuesday, July 29th. Barclays upped their price target on Bank of Hawaii from $67.00 to $68.00 and gave the stock an "underweight" rating in a research note on Tuesday, July 8th. Finally, Piper Sandler started coverage on Bank of Hawaii in a research note on Thursday, August 21st. They set a "neutral" rating and a $71.00 price target for the company. One analyst has rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $75.00.

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.