Rhumbline Advisers Cuts Stake in Bank of Hawaii Co. (NYSE:BOH)

Rhumbline Advisers lessened its stake in shares of Bank of Hawaii Co. (NYSE:BOH - Free Report) by 6.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor 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 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in BOH. Swiss National Bank lifted its position in shares of Bank of Hawaii by 0.8% during the fourth quarter. Swiss National Bank now owns 78,137 shares of the bank's stock valued at $5,566,000 after buying an additional 600 shares during the last quarter. JPMorgan Chase & Co. lifted its position in Bank of Hawaii by 188.8% during the fourth quarter. JPMorgan Chase & Co. now owns 250,094 shares of the bank's stock valued at $17,817,000 after acquiring an additional 163,503 shares during the last quarter. Principal Financial Group Inc. boosted its stake in Bank of Hawaii by 2.9% in the fourth quarter. Principal Financial Group Inc. now owns 192,718 shares of the bank's stock valued at $13,729,000 after acquiring an additional 5,451 shares in the last quarter. Norges Bank purchased a new position in Bank of Hawaii in the fourth quarter worth $27,495,000. Finally, Marble Harbor Investment Counsel LLC increased its position in shares of Bank of Hawaii by 8.0% during the fourth quarter. Marble Harbor Investment Counsel LLC now owns 89,304 shares of the bank's stock worth $6,362,000 after purchasing an additional 6,610 shares in the last quarter. 82.18% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, Barclays boosted their target price on Bank of Hawaii from $64.00 to $67.00 and gave the stock an "underweight" rating in a research note 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. Based on data from MarketBeat, Bank of Hawaii currently has a consensus rating of "Hold" and an average target price of $73.17.

Insider Buying and Selling at Bank of Hawaii

In other Bank of Hawaii news, insider Taryn L. Salmon sold 1,652 shares of the company's stock in a transaction dated Thursday, April 24th. The shares were sold at an average price of $66.15, for a total value 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 represents a 20.41% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 2.07% of the company's stock.

Bank of Hawaii Stock Performance

BOH stock traded down $1.60 during midday trading on Friday, reaching $65.17. The stock had a trading volume of 287,083 shares, compared to its average volume of 381,580. The firm has a fifty day simple moving average of $66.50 and a two-hundred day simple moving average of $69.72. Bank of Hawaii Co. has a 52-week low of $55.30 and a 52-week high of $82.70. 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 has a market cap of $2.59 billion, a PE ratio of 18.84 and a beta of 0.77.

Bank of Hawaii (NYSE:BOH - Get Free Report) last issued its quarterly earnings results 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. The company had revenue of $169.87 million for the quarter, compared to the consensus estimate of $168.65 million. Bank of Hawaii had a net margin of 14.47% and a return on equity of 11.81%. During the same quarter in the prior year, the company earned $0.87 EPS. As a group, equities research analysts anticipate that Bank of Hawaii Co. will post 3.97 EPS for the current year.

Bank of Hawaii Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 13th. Shareholders of record on Friday, May 30th were issued a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 4.30%. The ex-dividend date was Friday, May 30th. Bank of Hawaii's payout ratio is 78.65%.

Bank of Hawaii 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.