Millennium Management LLC Sells 471,405 Shares of Bank of Hawaii Co. (NYSE:BOH)

Millennium Management LLC lessened its stake in Bank of Hawaii Co. (NYSE:BOH - Free Report) by 98.5% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,214 shares of the bank's stock after selling 471,405 shares during the quarter. Millennium Management LLC's holdings in Bank of Hawaii were worth $514,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Mirae Asset Global Investments Co. Ltd. grew its holdings in Bank of Hawaii by 18.8% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 28,757 shares of the bank's stock valued at $2,024,000 after purchasing an additional 4,552 shares during the period. Choreo LLC bought a new stake in shares of Bank of Hawaii in the fourth quarter worth $205,000. Congress Asset Management Co. lifted its position in shares of Bank of Hawaii by 108.6% in the fourth quarter. Congress Asset Management Co. now owns 127,500 shares of the bank's stock worth $9,083,000 after purchasing an additional 66,366 shares in the last quarter. Monument Capital Management acquired a new position in Bank of Hawaii during the fourth quarter worth $270,000. Finally, Principal Financial Group Inc. increased its holdings in Bank of Hawaii by 2.9% during the fourth quarter. Principal Financial Group Inc. now owns 192,718 shares of the bank's stock worth $13,729,000 after buying an additional 5,451 shares during the last quarter. Institutional investors and hedge funds own 82.18% of the company's stock.

Bank of Hawaii Stock Performance

Shares of BOH stock traded down $1.05 on Wednesday, hitting $67.21. The company's stock had a trading volume of 243,903 shares, compared to its average volume of 382,303. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.71 and a current ratio of 0.71. The stock's 50 day moving average is $66.29 and its 200-day moving average is $69.92. Bank of Hawaii Co. has a fifty-two week low of $55.30 and a fifty-two week high of $82.70. The company has a market capitalization of $2.67 billion, a PE ratio of 19.43 and a beta of 0.77.

Bank of Hawaii (NYSE:BOH - Get Free Report) last posted its quarterly earnings data on Monday, April 21st. The bank reported $0.97 earnings per share 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 business had revenue of $169.87 million during the quarter, compared to analysts' expectations of $168.65 million. During the same quarter in the prior year, the business posted $0.87 earnings per share. Equities research analysts expect that Bank of Hawaii Co. will post 3.97 earnings per share for the current fiscal year.

Bank of Hawaii Dividend Announcement

The business also recently declared 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 is Friday, May 30th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 4.17%. Bank of Hawaii's payout ratio is currently 78.65%.

Insider Buying and Selling

In other Bank of Hawaii news, insider Taryn L. Salmon sold 1,652 shares of the firm's stock in a transaction that occurred on 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 trade represents a 20.41% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 2.07% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Separately, Barclays upped their price objective on shares of Bank of Hawaii from $64.00 to $67.00 and gave the company an "underweight" rating in a report on Tuesday, April 22nd. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $73.17.

About Bank of Hawaii

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.