Renaissance Technologies LLC Sells 41,500 Shares of Bank of Hawaii Corporation $BOH

Key Points

• Renaissance Technologies cut its Bank of Hawaii stake by 27.8%, selling 41,500 shares in the first quarter and retaining 107,600 shares valued at approximately $7.99 million. Institutional investors collectively own 82.18% of the company.
• Bank of Hawaii reported quarterly earnings of $1.47 per share, slightly exceeding analyst expectations, while revenue of $196.9 million fell short of estimates. Analysts expect full-year earnings of approximately $5.88 per share.
• The bank declared a quarterly dividend of $0.70 per share, equivalent to an annualized $2.80 payout and a 3.5% yield. Analyst sentiment remains “Hold,” with a consensus price target of $85.20.

Renaissance Technologies LLC lessened its stake in shares of Bank of Hawaii Corporation (NYSE:BOH - Free Report) by 27.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 107,600 shares of the bank's stock after selling 41,500 shares during the period. Renaissance Technologies LLC owned 0.27% of Bank of Hawaii worth $7,989,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of BOH. Royal Bank of Canada raised its holdings in Bank of Hawaii by 16.4% in the 1st quarter. Royal Bank of Canada now owns 26,241 shares of the bank's stock worth $1,808,000 after acquiring an additional 3,689 shares during the period. AQR Capital Management LLC grew its position in shares of Bank of Hawaii by 177.5% in the first quarter. AQR Capital Management LLC now owns 23,818 shares of the bank's stock valued at $1,617,000 after purchasing an additional 15,234 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Bank of Hawaii by 4.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 23,272 shares of the bank's stock worth $1,605,000 after purchasing an additional 1,027 shares during the last quarter. Intech Investment Management LLC grew its holdings in Bank of Hawaii by 35.8% in the 1st quarter. Intech Investment Management LLC now owns 19,808 shares of the bank's stock valued at $1,366,000 after buying an additional 5,227 shares during the last quarter. Finally, Strs Ohio bought a new position in Bank of Hawaii in the 1st quarter worth approximately $41,000. 82.18% of the stock is currently owned by institutional investors and hedge funds.

Bank of Hawaii Stock Performance

NYSE:BOH opened at $80.12 on Tuesday. The firm has a market capitalization of $3.16 billion, a PE ratio of 14.95, a price-to-earnings-growth ratio of 0.91 and a beta of 0.71. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.33. Bank of Hawaii Corporation has a 12-month low of $59.36 and a 12-month high of $86.31. The firm has a 50-day moving average price of $80.37 and a 200 day moving average price of $77.69.

Bank of Hawaii (NYSE:BOH - Get Free Report) last released its quarterly earnings data on Monday, July 27th. The bank reported $1.47 earnings per share for the quarter, beating analysts' consensus estimates of $1.46 by $0.01. Bank of Hawaii had a return on equity of 15.72% and a net margin of 21.84%.The company had revenue of $196.90 million for the quarter, compared to the consensus estimate of $199.51 million. During the same period in the previous year, the business earned $1.06 earnings per share. Research analysts anticipate that Bank of Hawaii Corporation will post 5.88 earnings per share for the current fiscal year.

Bank of Hawaii Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Monday, August 31st will be paid a $0.70 dividend. The ex-dividend date of this dividend is Monday, August 31st. This represents a $2.80 annualized dividend and a yield of 3.5%. Bank of Hawaii's payout ratio is currently 52.24%.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on BOH shares. Zacks Research downgraded shares of Bank of Hawaii from a "strong-buy" rating to a "hold" rating in a research note on Monday, April 6th. Wall Street Zen downgraded shares of Bank of Hawaii from a "hold" rating to a "sell" rating in a report on Saturday, April 25th. Barclays cut their price objective on shares of Bank of Hawaii from $88.00 to $85.00 and set an "equal weight" rating for the company in a research report on Tuesday, July 28th. Benchmark reissued a "hold" rating on shares of Bank of Hawaii in a research report on Tuesday, July 28th. Finally, Keefe, Bruyette & Woods lowered their price target on Bank of Hawaii from $95.00 to $92.00 and set an "outperform" rating on the stock in a research note on Monday. Three analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $85.20.

Bank of Hawaii Profile

Bank of Hawaii NYSE: BOH is a regional commercial bank headquartered in Honolulu, Hawaii, with roots tracing back to its founding in 1897 by Charles Montague Cooke and Peter Cushman Jones. As one of the oldest financial institutions in the U.S. West Coast region, the bank has built a reputation for stability and community focus. It operates as the principal subsidiary of Bank of Hawaii Corporation, a publicly traded company on the New York Stock Exchange.

The bank offers a comprehensive suite of personal and business banking products and services.

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