Hsbc Holdings PLC Sells 52,070 Shares of Bank of Hawaii Corporation $BOH

Key Points

• Hsbc Holdings PLC reduced its Bank of Hawaii stake by 88.9% in the second quarter, selling 52,070 shares and retaining 6,517 shares valued at approximately $529,000. Institutional investors collectively own 82.18% of BOH.
• Analyst sentiment remains cautious: Bank of Hawaii has an average “Hold” rating and a consensus price target of $85, with several firms recently lowering ratings or price targets.
• Bank of Hawaii reported quarterly EPS of $1.47, slightly exceeding estimates, and announced a $0.70 quarterly dividend, equal to $2.80 annually and a 3.7% yield.

Hsbc Holdings PLC cut its holdings in Bank of Hawaii Corporation (NYSE:BOH - Free Report) by 88.9% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,517 shares of the bank's stock after selling 52,070 shares during the period. Hsbc Holdings PLC's holdings in Bank of Hawaii were worth $529,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in BOH. Twin Lakes Capital Management LLC purchased a new position in Bank of Hawaii in the second quarter worth about $82,000. Centaurus Financial Inc. purchased a new stake in Bank of Hawaii during the second quarter valued at approximately $1,173,000. Public Employees Retirement System of Ohio purchased a new stake in Bank of Hawaii during the second quarter valued at approximately $51,000. Capstone Investment Advisors LLC bought a new stake in shares of Bank of Hawaii in the 2nd quarter valued at approximately $276,000. Finally, Corient Private Wealth LP purchased a new position in shares of Bank of Hawaii in the 2nd quarter worth approximately $5,230,000. 82.18% of the stock is currently owned by institutional investors.

Insider Activity

In other news, insider Marco Abbruzzese sold 2,441 shares of Bank of Hawaii stock in a transaction on Tuesday, August 4th. The stock was sold at an average price of $81.59, for a total value of $199,161.19. The sale was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 1.97% of the company's stock.

Analyst Ratings Changes

Several equities analysts recently commented on BOH shares. Benchmark reiterated a "hold" rating on shares of Bank of Hawaii in a report on Tuesday, July 28th. Stephens lowered Bank of Hawaii from an "overweight" rating to an "equal weight" rating and set a $85.00 target price for the company. in a research report on Thursday, August 6th. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Bank of Hawaii in a research note on Friday, July 24th. DA Davidson increased their price target on Bank of Hawaii from $80.00 to $85.00 and gave the stock a "neutral" rating in a report on Tuesday, July 28th. Finally, Barclays decreased their price target on Bank of Hawaii from $88.00 to $85.00 and set an "equal weight" rating for the company in a research note on Tuesday, July 28th. Two equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $85.00.

Bank of Hawaii Stock Performance

Bank of Hawaii stock opened at $76.10 on Tuesday. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.70 and a current ratio of 0.70. The company has a market capitalization of $3.00 billion, a PE ratio of 14.20, a P/E/G ratio of 0.86 and a beta of 0.70. The company has a 50 day moving average price of $79.59 and a 200-day moving average price of $78.13. Bank of Hawaii Corporation has a fifty-two week low of $59.36 and a fifty-two week high of $86.31.

Bank of Hawaii (NYSE:BOH - Get Free Report) last posted its earnings results on Monday, July 27th. The bank reported $1.47 EPS for the quarter, beating analysts' consensus estimates of $1.46 by $0.01. The business had revenue of $196.90 million for the quarter, compared to the consensus estimate of $199.51 million. Bank of Hawaii had a net margin of 21.84% and a return on equity of 15.72%. During the same quarter last year, the firm posted $1.06 EPS. As a group, equities analysts forecast that Bank of Hawaii Corporation will post 5.91 earnings per share for the current year.

Bank of Hawaii Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Monday, August 31st will be given a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 3.7%. The ex-dividend date of this dividend is Monday, August 31st. Bank of Hawaii's dividend payout ratio (DPR) is 52.24%.

About Bank of Hawaii

Bank of Hawaii Corporation is a regional financial services company headquartered in Honolulu, Hawaii. Through its principal subsidiary, Bank of Hawaii, the company provides banking and financial services to individuals, businesses, government entities and institutional customers.

The bank offers deposit accounts, consumer and commercial loans, residential and commercial mortgages, credit cards and treasury management services. It also provides wealth management, trust, investment management and brokerage services, along with other financial products designed for personal and business customers.

Founded in 1897, Bank of Hawaii has a long history of serving the Pacific region.

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