Millennium Management LLC Decreases Holdings in Bank of Hawaii Co. (NYSE:BOH)

Millennium Management LLC decreased its stake in Bank of Hawaii Co. (NYSE:BOH - Free Report) by 98.5% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm 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 & Exchange Commission.

Other institutional investors have also recently bought and sold shares of the company. SBI Securities Co. Ltd. bought a new position in shares of Bank of Hawaii in the fourth quarter valued at approximately $50,000. Headlands Technologies LLC raised its holdings in Bank of Hawaii by 285.8% in the 4th quarter. Headlands Technologies LLC now owns 949 shares of the bank's stock worth $68,000 after acquiring an additional 703 shares during the period. CoreFirst Bank & Trust acquired a new position in Bank of Hawaii during the 4th quarter worth $70,000. Smartleaf Asset Management LLC boosted its holdings in Bank of Hawaii by 204.9% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,543 shares of the bank's stock valued at $110,000 after acquiring an additional 1,037 shares during the period. Finally, BI Asset Management Fondsmaeglerselskab A S acquired a new stake in shares of Bank of Hawaii in the fourth quarter valued at about $153,000. Hedge funds and other institutional investors own 82.18% of the company's stock.

Insiders Place Their Bets

In related news, insider Taryn L. Salmon sold 1,652 shares of the firm's 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 transaction, the insider now directly owns 6,442 shares of the company's stock, valued at $426,138.30. This trade represents a 20.41% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 2.07% of the company's stock.

Analysts Set New Price Targets

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 research report on Tuesday, April 22nd. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company's stock. According to data from MarketBeat, Bank of Hawaii has an average rating of "Hold" and an average price target of $73.17.

Bank of Hawaii Trading Down 0.9%

NYSE BOH traded down $0.62 on Thursday, reaching $66.63. The company had a trading volume of 206,377 shares, compared to its average volume of 381,602. 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 52 week low of $55.30 and a 52 week high of $82.70. The stock has a market cap of $2.65 billion, a price-to-earnings ratio of 19.26 and a beta of 0.77. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.42.

Bank of Hawaii (NYSE:BOH - Get Free Report) last released its quarterly earnings data on Monday, April 21st. The bank reported $0.97 EPS for the quarter, beating the consensus estimate of $0.89 by $0.08. Bank of Hawaii had a return on equity of 11.81% and a net margin of 14.47%. The company had revenue of $169.87 million during the quarter, compared to the consensus estimate of $168.65 million. During the same quarter in the prior year, the firm posted $0.87 EPS. Equities analysts predict that Bank of Hawaii Co. will post 3.97 earnings per share for the current year.

Bank of Hawaii Dividend Announcement

The firm 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 dividend of $0.70 per share. This represents a $2.80 annualized dividend and a dividend yield of 4.20%. The ex-dividend date is Friday, May 30th. Bank of Hawaii's payout ratio is currently 78.65%.

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.