Kayne Anderson Rudnick Investment Management LLC trimmed its stake in Bank of Hawaii Co. (NYSE:BOH - Free Report) by 6.6% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,762,689 shares of the bank's stock after selling 125,424 shares during the period. Kayne Anderson Rudnick Investment Management LLC owned about 4.43% of Bank of Hawaii worth $125,574,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds and other institutional investors have also made changes to their positions in the company. Public Employees Retirement System of Ohio acquired a new stake in shares of Bank of Hawaii during the 4th quarter worth about $49,000. SBI Securities Co. Ltd. acquired a new position in shares of Bank of Hawaii in the 4th quarter valued at $50,000. Headlands Technologies LLC grew its stake in Bank of Hawaii by 285.8% during the 4th quarter. Headlands Technologies LLC now owns 949 shares of the bank's stock worth $68,000 after buying an additional 703 shares during the last quarter. CoreFirst Bank & Trust purchased a new stake in Bank of Hawaii in the 4th quarter valued at $70,000. Finally, Smartleaf Asset Management LLC grew its holdings in shares of Bank of Hawaii by 204.9% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,543 shares of the bank's stock worth $110,000 after buying an additional 1,037 shares during the last quarter. Institutional investors own 82.18% of the company's stock.
Bank of Hawaii Stock Performance
Shares of NYSE:BOH traded down $0.17 on Friday, reaching $66.58. 80,411 shares of the company's stock were exchanged, compared to its average volume of 380,206. Bank of Hawaii Co. has a twelve month low of $54.98 and a twelve month high of $82.70. The company has a market capitalization of $2.65 billion, a price-to-earnings ratio of 19.25 and a beta of 0.76. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.42. The company has a fifty day moving average of $66.51 and a 200-day moving average of $70.61.
Bank of Hawaii (NYSE:BOH - Get Free Report) last released its quarterly earnings results on Monday, April 21st. The bank reported $0.97 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.89 by $0.08. Bank of Hawaii had a net margin of 14.47% and a return on equity of 11.81%. The firm had revenue of $169.87 million during the quarter, compared to the consensus estimate of $168.65 million. During the same quarter last year, the firm earned $0.87 earnings per share. On average, research analysts predict that Bank of Hawaii Co. will post 3.97 EPS for the current fiscal year.
Bank of Hawaii Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 13th. Stockholders of record on Friday, May 30th will be issued a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 4.21%. The ex-dividend date is Friday, May 30th. Bank of Hawaii's payout ratio is currently 78.65%.
Insider Transactions at Bank of Hawaii
In related news, insider Taryn L. Salmon sold 1,652 shares of the stock in a transaction dated Thursday, April 24th. The shares were sold at an average price of $66.15, for a total value of $109,279.80. Following the sale, the insider now directly owns 6,442 shares of the company's stock, valued at $426,138.30. This represents a 20.41% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 2.07% of the company's stock.
Analyst Upgrades and Downgrades
Separately, Barclays boosted their target price on shares of Bank of Hawaii from $64.00 to $67.00 and gave the stock an "underweight" rating in a research report on Tuesday, April 22nd. Three research analysts have rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $73.17.
Get Our Latest Report on BOH
About Bank of Hawaii
(
Free Report)
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.
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