Bank of Hawaii Corporation $BOH Shares Sold by Northern Trust Corp

Key Points

• Northern Trust Corp has decreased its stake in Bank of Hawaii Corporation by selling 4,358 shares, bringing its total ownership to approximately 436,277 shares, valued at $30.09 million.
• Analysts have mixed opinions on Bank of Hawaii, with target prices ranging from $67.00 to $78.00, while the consensus rating remains a "Hold".
• The bank recently announced a quarterly dividend of $0.70, which reflects an annual yield of 4.1% and a payout ratio of 73.49%.

Northern Trust Corp lessened its stake in shares of Bank of Hawaii Corporation (NYSE:BOH - Free Report) by 1.0% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 436,277 shares of the bank's stock after selling 4,358 shares during the period. Northern Trust Corp owned 1.10% of Bank of Hawaii worth $30,090,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Wealth Alliance LLC lifted its holdings in Bank of Hawaii by 5.0% during the 1st quarter. Wealth Alliance LLC now owns 3,270 shares of the bank's stock worth $226,000 after buying an additional 155 shares during the period. Cetera Investment Advisers lifted its stake in shares of Bank of Hawaii by 3.7% in the 4th quarter. Cetera Investment Advisers now owns 4,457 shares of the bank's stock valued at $318,000 after purchasing an additional 158 shares during the period. Versant Capital Management Inc increased its position in Bank of Hawaii by 80.2% in the 1st quarter. Versant Capital Management Inc now owns 391 shares of the bank's stock valued at $27,000 after buying an additional 174 shares in the last quarter. Golden State Wealth Management LLC increased its position in Bank of Hawaii by 110.5% in the 1st quarter. Golden State Wealth Management LLC now owns 581 shares of the bank's stock valued at $40,000 after buying an additional 305 shares in the last quarter. Finally, CWM LLC increased its position in Bank of Hawaii by 31.9% in the 1st quarter. CWM LLC now owns 1,643 shares of the bank's stock valued at $113,000 after buying an additional 397 shares in the last quarter. Institutional investors and hedge funds own 82.18% of the company's stock.

Analyst Ratings Changes

A number of analysts recently commented on the company. Barclays boosted their target price on Bank of Hawaii from $67.00 to $68.00 and gave the company an "underweight" rating in a research report on Tuesday, July 8th. Stephens cut their target price on Bank of Hawaii from $78.00 to $76.00 and set an "overweight" rating on the stock in a research note on Tuesday, July 29th. Finally, Piper Sandler initiated coverage on Bank of Hawaii in a research note on Thursday, August 21st. They issued a "neutral" rating and a $71.00 target price on the stock. One analyst has rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Bank of Hawaii presently has a consensus rating of "Hold" and a consensus target price of $75.00.

Bank of Hawaii Price Performance

Shares of NYSE BOH traded up $0.85 during mid-day trading on Thursday, hitting $68.38. 133,924 shares of the company's stock traded hands, compared to its average volume of 421,159. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.70 and a quick ratio of 0.70. Bank of Hawaii Corporation has a 1 year low of $57.44 and a 1 year high of $82.70. The company has a market capitalization of $2.72 billion, a P/E ratio of 17.94, a PEG ratio of 0.88 and a beta of 0.84. The company's 50-day moving average is $66.73 and its two-hundred day moving average is $67.15.

Bank of Hawaii (NYSE:BOH - Get Free Report) last posted its quarterly earnings data on Monday, July 28th. The bank reported $1.06 earnings per share for the quarter, topping analysts' consensus estimates of $1.04 by $0.02. The company had revenue of $174.48 million for the quarter, compared to analyst estimates of $177.82 million. Bank of Hawaii had a net margin of 16.30% and a return on equity of 12.67%. During the same period in the prior year, the company posted $0.81 EPS. On average, equities analysts anticipate that Bank of Hawaii Corporation will post 3.97 EPS for the current fiscal year.

Bank of Hawaii Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Friday, August 29th will be paid a dividend of $0.70 per share. The ex-dividend date is Friday, August 29th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 4.1%. Bank of Hawaii's dividend payout ratio (DPR) is currently 73.49%.

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.