Rhumbline Advisers Decreases Holdings in Bank of Hawaii Corporation $BOH

Key Points

• Rhumbline Advisers decreased its stake in Bank of Hawaii Corporation by 6.0%, owning 110,871 shares valued at $7.65 million after selling 7,123 shares in Q1.
• Several institutional investors, such as Versant Capital Management and Golden State Wealth Management, significantly increased their holdings, showing changing investor confidence in the bank.
• The Bank of Hawaii recently reported earnings of $1.06 per share, beating estimates, and announced a quarterly dividend of $0.70 per share, yielding 4.1%.

Rhumbline Advisers lessened its holdings in Bank of Hawaii Corporation (NYSE:BOH - Free Report) by 6.0% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 110,871 shares of the bank's stock after selling 7,123 shares during the quarter. Rhumbline Advisers owned approximately 0.28% of Bank of Hawaii worth $7,647,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also made changes to their positions in the company. Versant Capital Management Inc lifted its stake in shares of Bank of Hawaii by 80.2% during the 1st quarter. Versant Capital Management Inc now owns 391 shares of the bank's stock worth $27,000 after purchasing an additional 174 shares during the last quarter. Private Trust Co. NA lifted its stake in shares of Bank of Hawaii by 18,333.3% during the 1st quarter. Private Trust Co. NA now owns 553 shares of the bank's stock worth $38,000 after purchasing an additional 550 shares during the last quarter. Golden State Wealth Management LLC lifted its stake in shares of Bank of Hawaii by 110.5% during the 1st quarter. Golden State Wealth Management LLC now owns 581 shares of the bank's stock worth $40,000 after purchasing an additional 305 shares during the last quarter. Strs Ohio purchased a new stake in shares of Bank of Hawaii during the 1st quarter worth $41,000. Finally, Public Employees Retirement System of Ohio purchased a new stake in shares of Bank of Hawaii during the 4th quarter worth $49,000. 82.18% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

BOH has been the subject of a number of research analyst reports. 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 price target for the company. Barclays increased their price target on Bank of Hawaii from $67.00 to $68.00 and gave the company an "underweight" rating in a research note on Tuesday, July 8th. Finally, Stephens decreased their price target on Bank of Hawaii from $78.00 to $76.00 and set an "overweight" rating for the company in a research note on Tuesday, July 29th. One analyst has rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $75.00.

Bank of Hawaii Price Performance

BOH traded up $1.18 during trading on Wednesday, hitting $66.94. The company's stock had a trading volume of 71,177 shares, compared to its average volume of 417,597. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.40. Bank of Hawaii Corporation has a twelve month low of $57.44 and a twelve month high of $82.70. The business's fifty day simple moving average is $66.40 and its 200 day simple moving average is $66.87. The firm has a market capitalization of $2.66 billion, a price-to-earnings ratio of 17.57, a P/E/G ratio of 0.86 and a beta of 0.84.

Bank of Hawaii (NYSE:BOH - Get Free Report) last released its earnings results on Monday, July 28th. The bank reported $1.06 earnings per share for the quarter, beating the consensus estimate of $1.04 by $0.02. Bank of Hawaii had a return on equity of 12.67% and a net margin of 16.30%.The business had revenue of $174.48 million for the quarter, compared to the consensus estimate of $177.82 million. During the same quarter last year, the business posted $0.81 earnings per share. On average, equities research analysts forecast that Bank of Hawaii Corporation will post 3.97 EPS for the current fiscal year.

Bank of Hawaii Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Friday, August 29th were paid a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 4.2%. The ex-dividend date of this dividend was Friday, August 29th. Bank of Hawaii's payout ratio is presently 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.