Kayne Anderson Rudnick Investment Management LLC lowered its holdings in Bank of Hawaii Co. (NYSE:BOH - Free Report) by 6.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,762,689 shares of the bank's stock after selling 125,424 shares during the quarter. Kayne Anderson Rudnick Investment Management LLC owned 4.43% of Bank of Hawaii worth $125,574,000 as of its most recent SEC filing.
Several other institutional investors have also recently made changes to their positions in BOH. Norges Bank acquired a new stake in Bank of Hawaii during the fourth quarter worth about $27,495,000. JPMorgan Chase & Co. boosted its position in Bank of Hawaii by 188.8% in the 4th quarter. JPMorgan Chase & Co. now owns 250,094 shares of the bank's stock worth $17,817,000 after purchasing an additional 163,503 shares in the last quarter. ExodusPoint Capital Management LP acquired a new stake in shares of Bank of Hawaii during the 4th quarter worth approximately $4,798,000. Congress Asset Management Co. increased its holdings in shares of Bank of Hawaii by 108.6% during the 4th quarter. Congress Asset Management Co. now owns 127,500 shares of the bank's stock valued at $9,083,000 after purchasing an additional 66,366 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in shares of Bank of Hawaii by 4.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,571,512 shares of the bank's stock valued at $111,955,000 after purchasing an additional 60,092 shares during the period. Hedge funds and other institutional investors own 82.18% of the company's stock.
Analyst Upgrades and Downgrades
BOH has been the subject of a number of recent analyst reports. Piper Sandler lifted their price objective on shares of Bank of Hawaii from $66.00 to $68.00 and gave the company an "underweight" rating in a report on Tuesday, January 28th. Barclays lifted their price target on shares of Bank of Hawaii from $64.00 to $67.00 and gave the company an "underweight" rating in a research note on Tuesday. Finally, DA Davidson increased their price objective on shares of Bank of Hawaii from $75.00 to $79.00 and gave the company a "neutral" rating in a report on Tuesday, January 28th. Three research analysts have rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, Bank of Hawaii has a consensus rating of "Hold" and a consensus price target of $73.17.
Read Our Latest Stock Analysis on Bank of Hawaii
Bank of Hawaii Price Performance
BOH stock traded down $0.58 during mid-day trading on Friday, reaching $65.77. The company's stock had a trading volume of 129,620 shares, compared to its average volume of 367,351. The stock has a market cap of $2.62 billion, a PE ratio of 19.02 and a beta of 0.87. The company's 50 day moving average is $67.38 and its two-hundred day moving average is $70.91. Bank of Hawaii Co. has a fifty-two week low of $54.50 and a fifty-two week high of $82.70. The company has a current ratio of 0.71, a quick 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 results 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 net margin of 14.47% and a return on equity of 11.81%. The firm had revenue of $169.87 million for the quarter, compared to analyst estimates of $168.65 million. During the same quarter in the previous year, the company earned $0.87 EPS. Equities research analysts expect that Bank of Hawaii Co. will post 3.97 EPS for the current year.
Bank of Hawaii Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 13th. Investors of record on Friday, May 30th will be given a dividend of $0.70 per share. The ex-dividend date of this dividend is Friday, May 30th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 4.26%. Bank of Hawaii's payout ratio is currently 78.65%.
Insider Activity at Bank of Hawaii
In other news, insider Taryn L. Salmon sold 449 shares of the firm's stock in a transaction on Thursday, January 30th. The shares were sold at an average price of $74.97, for a total value of $33,661.53. Following the sale, the insider now directly owns 9,880 shares in the company, valued at approximately $740,703.60. This trade represents a 4.35 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Patrick M. Mcguirk sold 2,000 shares of Bank of Hawaii stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $75.08, for a total value of $150,160.00. Following the sale, the chief accounting officer now directly owns 9,173 shares of the company's stock, valued at $688,708.84. This trade represents a 17.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 2.07% of the company's stock.
Bank of Hawaii Profile
(
Free Report)
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.
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