Bank of New York Mellon Corp Cuts Stake in Bank of Hawaii Co. (NYSE:BOH)

Bank of New York Mellon Corp trimmed its position in shares of Bank of Hawaii Co. (NYSE:BOH - Free Report) by 2.8% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 419,382 shares of the bank's stock after selling 12,135 shares during the period. Bank of New York Mellon Corp owned about 1.06% of Bank of Hawaii worth $29,877,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the company. KBC Group NV raised its stake in shares of Bank of Hawaii by 70.9% during the fourth quarter. KBC Group NV now owns 1,957 shares of the bank's stock worth $139,000 after acquiring an additional 812 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. raised its position in Bank of Hawaii by 29.0% in the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 2,387 shares of the bank's stock worth $150,000 after purchasing an additional 536 shares during the period. Trust Point Inc. purchased a new position in Bank of Hawaii in the 4th quarter worth $204,000. Choreo LLC bought a new stake in Bank of Hawaii in the fourth quarter worth $205,000. Finally, Sippican Capital Advisors purchased a new stake in Bank of Hawaii during the fourth quarter valued at about $215,000. Institutional investors own 82.18% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have recently commented on BOH. Keefe, Bruyette & Woods lifted their price objective on Bank of Hawaii from $74.00 to $81.00 and gave the stock a "market perform" rating in a report on Wednesday, December 4th. DA Davidson lifted their price target on Bank of Hawaii from $75.00 to $79.00 and gave the stock a "neutral" rating in a research note on Tuesday, January 28th. Barclays increased their price objective on Bank of Hawaii from $56.00 to $66.00 and gave the company an "underweight" rating in a research note on Thursday, December 5th. Piper Sandler upped their price target 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. Finally, Stephens initiated coverage on shares of Bank of Hawaii in a research report on Wednesday, November 27th. They set an "overweight" rating and a $90.00 price target for the company. Three research analysts have rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $73.00.

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Insider Transactions at Bank of Hawaii

In related news, insider Taryn L. Salmon sold 449 shares of Bank of Hawaii stock in a transaction dated Thursday, January 30th. The shares were sold at an average price of $74.97, for a total transaction of $33,661.53. Following the completion of the transaction, the insider now directly owns 9,880 shares of the company's stock, valued at $740,703.60. This trade represents a 4.35 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CAO Patrick M. Mcguirk sold 2,000 shares of the business's stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $75.08, for a total transaction of $150,160.00. Following the sale, the chief accounting officer now directly owns 9,173 shares in the company, valued at $688,708.84. The trade was a 17.90 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 2.11% of the company's stock.

Bank of Hawaii Trading Down 1.1 %

BOH stock traded down $0.75 on Wednesday, reaching $66.59. The company's stock had a trading volume of 262,073 shares, compared to its average volume of 399,565. The firm has a market cap of $2.65 billion, a PE ratio of 19.25 and a beta of 1.00. The business has a fifty day simple moving average of $71.74 and a two-hundred day simple moving average of $70.69. Bank of Hawaii Co. has a 12-month low of $54.50 and a 12-month 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.

Bank of Hawaii (NYSE:BOH - Get Free Report) last posted its earnings results on Monday, January 27th. The bank reported $0.85 EPS for the quarter, missing the consensus estimate of $0.87 by ($0.02). Bank of Hawaii had a return on equity of 11.81% and a net margin of 14.47%. As a group, research analysts forecast that Bank of Hawaii Co. will post 3.97 EPS for the current year.

Bank of Hawaii Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Friday, February 28th will be issued a dividend of $0.70 per share. The ex-dividend date of this dividend is Friday, February 28th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 4.20%. Bank of Hawaii's dividend payout ratio (DPR) is 80.92%.

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.