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Commerce Bank reduced its holdings of Bank of Hawaii Co. (NYSE: BOH – Get a rating) by 6.1% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor held 10,722 shares of the bank after selling 700 shares during the period. Commerce Bank’s holdings in Bank of Hawaii were worth $900,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently changed their positions in BOH. Covestor Ltd purchased a new stake in Bank of Hawaii during Q4 for a value of approximately $34,000. CWM LLC purchased a new stake in Bank of Hawaii during the fourth quarter for $37,000. Steward Partners Investment Advisory LLC increased its holdings in Bank of Hawaii by 110.6% in the first quarter. Steward Partners Investment Advisory LLC now owns 476 shares of the bank worth $40,000 after buying an additional 250 shares in the last quarter. Point72 Hong Kong Ltd bought a new position in Bank of Hawaii during Q4 worth $46,000. Finally, GHP Investment Advisors Inc. acquired a new position in Bank of Hawaii during Q1 worth $89,000. Institutional investors and hedge funds own 71.07% of the company’s shares.
Bank of Hawaii Insider Buying and Selling
In other news, CEO Peter S. Ho sold 5,500 shares in a trade on Wednesday, August 10. The stock was sold at an average price of $81.67, for a total transaction of $449,185.00. Following completion of the transaction, the CEO now owns 239,181 shares of the company, valued at approximately $19,533,912.27. The transaction was disclosed in a filing with the Securities & Exchange Commission, accessible via this hyperlink. Company insiders hold 2.06% of the company’s shares.
Wall Street analysts predict growth
Several analysts have recently commented on the stock. Jefferies Financial Group lowered its target price on Bank of Hawaii shares from $87.00 to $79.00 in a Monday, July 11 report. StockNews.com downgraded the Bank of Hawaii from a “hold” to a “sell” rating in a research note on Thursday.
Bank of Hawaii Price Performance
Shares of NYSE: BOH opened at $83.87 on Monday. Bank of Hawaii Co. has a fifty-two week low of $70.89 and a fifty-two week high of $92.38. The company’s 50-day moving average is $76.66 and its 200-day moving average is $79.85. The company has a debt ratio of 0.01, a quick ratio of 0.64 and a current ratio of 0.64. The company has a market capitalization of $3.37 billion, a P/E ratio of 14.54, a price-to-earnings growth ratio of 1.86 and a beta of 1.12.
Bank of Hawaii (NYSE: BOH – Get a rating) last released its results on Monday, July 25. The bank reported earnings per share of $1.38 for the quarter, beating consensus analyst estimates of $1.35 by $0.03. Bank of Hawaii had a net margin of 33.63% and a return on equity of 17.98%. During the same period of the previous year, the company achieved EPS of $1.68. On average, stock research analysts expect Bank of Hawaii Co. to post earnings per share of 5.64 for the current year.
Bank of Hawaii Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Thursday, September 15. Shareholders of record on Wednesday, August 31 will receive a dividend of $0.70. This represents a dividend of $2.80 on an annualized basis and a yield of 3.34%. The ex-date of this dividend is Tuesday, August 30. Bank of Hawaii’s dividend payout ratio is currently 48.53%.
About Bank of Hawaii
Bank of Hawaii Corporation operates as a bank holding company for Bank of Hawaii which 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 Others. The Consumer Banking segment offers checking, savings and term deposit accounts; residential mortgages, home equity lines of credit, auto loans and leases, personal lines of credit, installment loans, small business loans and leases, and credit cards; banking, investment, credit and trust services to individuals and families, and high net worth individuals; investment management; institutional investment advisory services to corporations, government entities and foundations; and brokerage offerings, including stocks, mutual funds, life insurance and annuity products.
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