Kayne Anderson Rudnick Investment Management LLC Sells 125,424 Shares of Bank of Hawaii Co. (NYSE:BOH)

Kayne Anderson Rudnick Investment Management LLC lowered its stake in Bank of Hawaii Co. (NYSE:BOH - Free Report) by 6.6% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,762,689 shares of the bank's stock after selling 125,424 shares during the quarter. Kayne Anderson Rudnick Investment Management LLC owned 4.43% of Bank of Hawaii worth $125,574,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of BOH. Public Employees Retirement System of Ohio bought a new stake in shares of Bank of Hawaii in the 4th quarter valued at $49,000. SBI Securities Co. Ltd. bought a new stake 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% in the fourth quarter. Headlands Technologies LLC now owns 949 shares of the bank's stock valued at $68,000 after acquiring an additional 703 shares during the period. CoreFirst Bank & Trust bought a new stake in shares of Bank of Hawaii during the fourth quarter valued at approximately $70,000. Finally, Smartleaf Asset Management LLC raised its position 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 purchasing an additional 1,037 shares during the period. Institutional investors own 82.18% of the company's stock.

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 transaction of $109,279.80. Following the completion of the transaction, the insider now owns 6,442 shares in the company, valued at approximately $426,138.30. This represents a 20.41% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 2.07% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have commented on BOH shares. Barclays boosted their price target on shares of Bank of Hawaii from $64.00 to $67.00 and gave the company an "underweight" rating in a research note on Tuesday, April 22nd. Piper Sandler boosted their target price on shares of Bank of Hawaii from $66.00 to $68.00 and gave the stock an "underweight" rating in a research report on Tuesday, January 28th. Finally, DA Davidson upped their target price on shares of Bank of Hawaii from $75.00 to $79.00 and gave the stock a "neutral" rating in a report on Tuesday, January 28th. Three equities research analysts have rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company's stock. According to MarketBeat, Bank of Hawaii presently has an average rating of "Hold" and an average target price of $73.17.

Bank of Hawaii Stock Down 1.8%

Shares of NYSE:BOH traded down $1.20 during mid-day trading on Wednesday, hitting $66.73. 251,221 shares of the company traded hands, compared to its average volume of 381,240. Bank of Hawaii Co. has a 12-month low of $54.50 and a 12-month high of $82.70. 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 stock has a market cap of $2.65 billion, a P/E ratio of 19.29 and a beta of 0.76. The stock has a 50-day moving average price of $66.59 and a two-hundred day moving average price of $70.72.

Bank of Hawaii (NYSE:BOH - Get Free Report) last posted its earnings results on Monday, April 21st. The bank reported $0.97 earnings per share (EPS) for the quarter, topping 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 analyst estimates of $168.65 million. During the same quarter in the prior year, the business posted $0.87 EPS. On average, equities research analysts forecast that Bank of Hawaii Co. will post 3.97 earnings per share for the current year.

Bank of Hawaii Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 13th. Stockholders of record on Friday, May 30th will be paid a $0.70 dividend. The ex-dividend date of this dividend is Friday, May 30th. This represents a $2.80 annualized dividend and a dividend yield of 4.20%. Bank of Hawaii's payout ratio is 78.65%.

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.