The New York State Common Retirement Fund reduced its holdings of Bank of Hawaii Co. (NYSE: BOH – Get a rating) by 0.3% in Q1, according to the company in its latest 13F filing with the Securities and Exchange Commission (SEC). The company held 46,400 shares of the bank after selling 148 shares during the quarter. The New York State Common Retirement Fund held about 0.12% of Bank of Hawaii worth $3,894,000 at the end of last quarter.
Several other institutional investors have also recently changed their holdings in BOH. Allspring Global Investments Holdings LLC bought a new position in Bank of Hawaii during Q4 for a value of approximately $244,000. CWM LLC bought a new position in Bank of Hawaii in the fourth quarter worth about $37,000. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Bank of Hawaii by 37.0% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,105 shares of the bank valued at $428,000 after buying an additional 1,380 shares last quarter. Mutual of America Capital Management LLC increased its stake in Bank of Hawaii by 1.4% in the fourth quarter. Mutual of America Capital Management LLC now owns 36,204 shares of the bank valued at $3,032,000 after buying 517 additional shares last quarter. Finally, Advisor Group Holdings Inc. increased its stake in Bank of Hawaii by 3.4% in the fourth quarter. Advisor Group Holdings Inc. now owns 6,880 shares of the bank valued at $577,000 after buying 228 more shares last quarter. Institutional investors and hedge funds own 71.07% of the company’s shares.
Insider buying and selling
In related news, CEO Peter S. Ho sold 5,500 shares of the company in a trade on Wednesday, August 10. The shares were sold at an average price of $81.67, for a total transaction of $449,185.00. As a result of the transaction, the CEO now directly owns 239,181 shares of the company, valued at $19,533,912.27. The sale was disclosed in a filing with the SEC, which is available via this link. 2.06% of the shares are held by insiders.
Analyst upgrades and downgrades
A number of brokerages weighed in on BOH. Jefferies Financial Group cut its price target on Bank of Hawaii shares from $87.00 to $79.00 in a Monday, July 11 research note. StockNews.com downgraded Bank of Hawaii shares from a “hold” rating to a “sell” rating in a research report on Thursday.
Bank of Hawaii stock performance
Shares of BOH Stock opened at $83.87 on Friday. The company’s fifty-day simple moving average is $76.66 and its 200-day simple moving average is $79.93. The company has a quick ratio of 0.64, a current ratio of 0.64 and a debt ratio of 0.01. The company has a market capitalization of $3.37 billion, a PE ratio of 14.54, a P/E/G ratio of 1.81 and a beta of 1.12. Bank of Hawaii Co. has a 12-month low of $70.89 and a 12-month high of $92.38.
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 analysts’ consensus estimate of $1.35 by $0.03. Bank of Hawaii had a net margin of 33.63% and a return on equity of 17.98%. In the same quarter of the previous year, the company had achieved EPS of $1.68. Equity research analysts expect Bank of Hawaii Co. to post 5.64 EPS for the current fiscal year.
Bank of Hawaii Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Thursday, September 15. Investors of record on Wednesday, August 31 will receive a dividend of $0.70 per share. The ex-dividend date is Tuesday, August 30. This represents a dividend of $2.80 on an annualized basis and a yield of 3.34%. Bank of Hawaii’s payout ratio is 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 private and international clients 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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