Tower Research Capital LLC TRC Cuts Stock Holdings in Bank of Hawaii Co. (NYSE:BOH)

Tower Research Capital LLC TRC decreased its holdings in shares of Bank of Hawaii Co. (NYSE:BOH - Free Report) by 86.4% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 884 shares of the bank's stock after selling 5,637 shares during the period. Tower Research Capital LLC TRC's holdings in Bank of Hawaii were worth $63,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Perigon Wealth Management LLC raised its holdings in shares of Bank of Hawaii by 0.9% during the fourth quarter. Perigon Wealth Management LLC now owns 16,474 shares of the bank's stock valued at $1,168,000 after purchasing an additional 154 shares during the last quarter. Mariner LLC grew its position in Bank of Hawaii by 1.7% in the 4th quarter. Mariner LLC now owns 9,076 shares of the bank's stock worth $647,000 after purchasing an additional 154 shares during the period. Bank of Montreal Can raised its stake in Bank of Hawaii by 5.9% during the 4th quarter. Bank of Montreal Can now owns 4,592 shares of the bank's stock valued at $327,000 after buying an additional 254 shares during the last quarter. Summit Investment Advisors Inc. lifted its holdings in shares of Bank of Hawaii by 6.8% during the 4th quarter. Summit Investment Advisors Inc. now owns 4,089 shares of the bank's stock valued at $291,000 after buying an additional 260 shares during the period. Finally, Illinois Municipal Retirement Fund lifted its holdings in shares of Bank of Hawaii by 1.5% during the 4th quarter. Illinois Municipal Retirement Fund now owns 22,060 shares of the bank's stock valued at $1,572,000 after buying an additional 324 shares during the period. 82.18% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Bank of Hawaii

In other news, insider Taryn L. Salmon sold 1,652 shares of the business's stock in a transaction on Thursday, April 24th. The shares were sold at an average price of $66.15, for a total transaction of $109,279.80. Following the completion of the sale, the insider now directly owns 6,442 shares of the company's stock, valued at approximately $426,138.30. The trade was a 20.41% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 2.07% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on BOH shares. Barclays lifted their price objective on Bank of Hawaii from $64.00 to $67.00 and gave the stock an "underweight" rating in a report on Tuesday, April 22nd. DA Davidson upped their price target on shares of Bank of Hawaii from $75.00 to $79.00 and gave the company a "neutral" rating in a research report on Tuesday, January 28th. Finally, Piper Sandler increased their price objective on shares of Bank of Hawaii from $66.00 to $68.00 and gave the stock an "underweight" rating in a research note 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 company. According to MarketBeat, the company has an average rating of "Hold" and a consensus target price of $73.17.

Bank of Hawaii Price Performance

Shares of BOH stock traded down $0.70 on Wednesday, reaching $69.74. The company's stock had a trading volume of 285,579 shares, compared to its average volume of 376,671. The stock's fifty day simple moving average is $66.48 and its 200-day simple moving average is $71.12. Bank of Hawaii Co. has a 1 year low of $54.50 and a 1 year high of $82.70. The company has a market capitalization of $2.77 billion, a price-to-earnings ratio of 20.16 and a beta of 0.76. 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, topping the consensus estimate of $0.89 by $0.08. The company had revenue of $169.87 million during the quarter, compared to analyst estimates of $168.65 million. Bank of Hawaii had a return on equity of 11.81% and a net margin of 14.47%. During the same quarter last year, the business posted $0.87 earnings per share. Analysts forecast that Bank of Hawaii Co. will post 3.97 earnings per share for the current fiscal year.

Bank of Hawaii Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, June 13th. Stockholders of record on Friday, May 30th will be paid a $0.70 dividend. This represents a $2.80 annualized dividend and a dividend yield of 4.01%. The ex-dividend date is Friday, May 30th. Bank of Hawaii's dividend payout ratio is currently 78.65%.

About Bank of Hawaii

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.