Victory Capital Management Inc. cut its holdings in Bank of Hawaii Co. (NYSE:BOH - Free Report) by 3.7% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 607,680 shares of the bank's stock after selling 23,395 shares during the period. Victory Capital Management Inc. owned about 1.53% of Bank of Hawaii worth $43,291,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. boosted its holdings 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 buying an additional 60,092 shares during the last quarter. SBI Securities Co. Ltd. acquired a new position in Bank of Hawaii in the 4th quarter valued at about $50,000. Jones Financial Companies Lllp increased its stake in shares of Bank of Hawaii by 211.2% during the fourth quarter. Jones Financial Companies Lllp now owns 2,975 shares of the bank's stock worth $212,000 after purchasing an additional 2,019 shares during the period. Smartleaf Asset Management LLC increased its position in Bank of Hawaii by 204.9% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,543 shares of the bank's stock worth $110,000 after buying an additional 1,037 shares during the period. Finally, US Bancorp DE increased its position in Bank of Hawaii by 23.7% during the fourth quarter. US Bancorp DE now owns 5,814 shares of the bank's stock worth $414,000 after acquiring an additional 1,114 shares during the period. 82.18% of the stock is owned by institutional investors.
Bank of Hawaii Stock Down 1.2 %
Shares of Bank of Hawaii stock traded down $0.82 on Wednesday, hitting $66.52. The company had a trading volume of 346,894 shares, compared to its average volume of 318,893. The stock has a 50 day moving average of $71.74 and a 200-day moving average of $70.69. Bank of Hawaii Co. has a 1 year low of $54.50 and a 1 year high of $82.70. The stock has a market capitalization of $2.64 billion, a price-to-earnings ratio of 19.23 and a beta of 1.00. 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, sell-side analysts forecast that Bank of Hawaii Co. will post 3.97 earnings per share for the current year.
Bank of Hawaii Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Friday, February 28th will be paid a $0.70 dividend. The ex-dividend date is Friday, February 28th. This represents a $2.80 annualized dividend and a yield of 4.21%. Bank of Hawaii's payout ratio is 80.92%.
Insider Buying and Selling
In other Bank of Hawaii news, CAO Patrick M. Mcguirk sold 2,000 shares of the firm's 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 owns 9,173 shares of the company's stock, valued at $688,708.84. This trade represents a 17.90 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Taryn L. Salmon sold 449 shares of Bank of Hawaii stock in a transaction that occurred on Thursday, January 30th. The shares were sold at an average price of $74.97, for a total transaction of $33,661.53. Following the sale, the insider now owns 9,880 shares of the company's stock, valued at approximately $740,703.60. The trade was a 4.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.11% of the stock is currently owned by insiders.
Analyst Upgrades and Downgrades
Several equities analysts have weighed in on BOH shares. Barclays lifted their price objective on Bank of Hawaii from $56.00 to $66.00 and gave the company an "underweight" rating in a report on Thursday, December 5th. Stephens assumed coverage on Bank of Hawaii in a research note on Wednesday, November 27th. They issued an "overweight" rating and a $90.00 price target for the company. 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 research report on Tuesday, January 28th. DA Davidson lifted their target price on shares of Bank of Hawaii from $75.00 to $79.00 and gave the stock a "neutral" rating in a research note on Tuesday, January 28th. Finally, Keefe, Bruyette & Woods increased their price target 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. Three analysts have rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $73.00.
Read Our Latest Report on BOH
Bank of Hawaii Company 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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