Hsbc Holdings PLC Reduces Holdings in Bank of Hawaii Corporation $BOH

Key Points

• Hsbc Holdings PLC reduced its stake in Bank of Hawaii Corporation by 46.4%, selling 16,762 shares and leaving them with 19,381 shares valued at approximately $1.34 million.
• Bank of Hawaii recently announced a quarterly dividend of $0.70 per share, which will be paid on September 15th, reflecting a 4.1% dividend yield.
• Equities analysts have mixed sentiments on Bank of Hawaii's stock, with one Buy rating, three Hold ratings, and one Sell rating, leading to a consensus target price of $75.00.

Hsbc Holdings PLC lowered its holdings in shares of Bank of Hawaii Corporation (NYSE:BOH - Free Report) by 46.4% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 19,381 shares of the bank's stock after selling 16,762 shares during the quarter. Hsbc Holdings PLC's holdings in Bank of Hawaii were worth $1,335,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Versant Capital Management Inc boosted its position 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 purchasing an additional 174 shares during the period. Private Trust Co. NA lifted its stake in shares of Bank of Hawaii by 18,333.3% during the 1st quarter. Private Trust Co. NA now owns 553 shares of the bank's stock valued at $38,000 after buying an additional 550 shares in the last quarter. Golden State Wealth Management LLC boosted its holdings in Bank of Hawaii by 110.5% in the 1st quarter. Golden State Wealth Management LLC now owns 581 shares of the bank's stock worth $40,000 after buying an additional 305 shares during the period. Public Employees Retirement System of Ohio bought a new position in Bank of Hawaii in the 4th quarter worth $49,000. Finally, CWM LLC increased its stake in Bank of Hawaii by 31.9% in the 1st quarter. CWM LLC now owns 1,643 shares of the bank's stock worth $113,000 after buying an additional 397 shares in the last quarter. 82.18% of the stock is owned by hedge funds and other institutional investors.

Bank of Hawaii Price Performance

BOH traded down $0.58 during trading on Friday, reaching $67.95. 357,602 shares of the company traded hands, compared to its average volume of 372,714. 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 Corporation has a 12-month low of $57.44 and a 12-month high of $82.70. The firm has a fifty day simple moving average of $66.70 and a 200 day simple moving average of $67.19. The company has a market cap of $2.70 billion, a P/E ratio of 17.83, a PEG ratio of 0.88 and a beta of 0.84.

Bank of Hawaii (NYSE:BOH - Get Free Report) last posted its earnings results on Monday, July 28th. The bank reported $1.06 earnings per share for the quarter, beating analysts' consensus estimates of $1.04 by $0.02. Bank of Hawaii had a net margin of 16.30% and a return on equity of 12.67%. The firm had revenue of $174.48 million during the quarter, compared to analyst estimates of $177.82 million. During the same period last year, the firm posted $0.81 earnings per share. On average, equities analysts forecast that Bank of Hawaii Corporation will post 3.97 EPS for the current year.

Bank of Hawaii Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Friday, August 29th will be issued a $0.70 dividend. The ex-dividend date of this dividend is Friday, August 29th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 4.1%. Bank of Hawaii's dividend payout ratio (DPR) is 73.49%.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on BOH shares. Stephens dropped their price objective 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. Piper Sandler started coverage on Bank of Hawaii in a research note on Thursday, August 21st. They issued a "neutral" rating and a $71.00 price objective for the company. Finally, Barclays increased their price objective 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 equities research analyst has rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $75.00.

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.