Axxcess Wealth Management LLC reduced its stake in shares of Bank of Hawaii Co. (NYSE:BOH – Get Rating) by 6.7% in the second quarter, HoldingsChannel reports. The firm owned 7,491 shares of the bank’s stock after selling 535 shares during the period. Axxcess Wealth Management LLC’s holdings in Bank of Hawaii were worth $557,000 as of its most recent SEC filing.
A number of other hedge funds have also recently made changes to their positions in BOH. SG Americas Securities LLC increased its position in Bank of Hawaii by 365.9% during the 1st quarter. SG Americas Securities LLC now owns 16,107 shares of the bank’s stock valued at $1,352,000 after buying an additional 12,650 shares in the last quarter. Steward Partners Investment Advisory LLC increased its position in Bank of Hawaii by 110.6% during the 1st quarter. Steward Partners Investment Advisory LLC now owns 476 shares of the bank’s stock valued at $40,000 after buying an additional 250 shares in the last quarter. Mutual of America Capital Management LLC increased its position in Bank of Hawaii by 1.4% during the 1st quarter. Mutual of America Capital Management LLC now owns 36,710 shares of the bank’s stock valued at $3,081,000 after buying an additional 506 shares in the last quarter. State of New Jersey Common Pension Fund D acquired a new position in Bank of Hawaii during the 1st quarter valued at about $2,434,000. Finally, Envestnet Asset Management Inc. increased its position in Bank of Hawaii by 5.3% during the 1st quarter. Envestnet Asset Management Inc. now owns 117,627 shares of the bank’s stock valued at $9,871,000 after buying an additional 5,956 shares in the last quarter. 74.84% of the stock is currently owned by hedge funds and other institutional investors.
Insiders Place Their Bets
In other Bank of Hawaii news, CEO Peter S. Ho sold 5,500 shares of the stock in a transaction that occurred on Thursday, November 10th. The stock was sold at an average price of $79.30, for a total transaction of $436,150.00. Following the transaction, the chief executive officer now owns 233,681 shares in the company, valued at $18,530,903.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 2.06% of the stock is currently owned by company insiders.
Bank of Hawaii Stock Up 0.6 %
Bank of Hawaii (NYSE:BOH – Get Rating) last issued its earnings results on Monday, October 24th. The bank reported $1.28 EPS for the quarter, missing analysts’ consensus estimates of $1.42 by ($0.14). Bank of Hawaii had a return on equity of 18.37% and a net margin of 31.88%. During the same period in the previous year, the company posted $1.52 earnings per share. Equities analysts expect that Bank of Hawaii Co. will post 5.63 earnings per share for the current year.
Bank of Hawaii Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 14th. Shareholders of record on Wednesday, November 30th will be given a dividend of $0.70 per share. The ex-dividend date of this dividend is Tuesday, November 29th. This represents a $2.80 dividend on an annualized basis and a yield of 3.43%. Bank of Hawaii’s dividend payout ratio is currently 50.63%.
Wall Street Analysts Forecast Growth
A number of brokerages have recently weighed in on BOH. StockNews.com began coverage on Bank of Hawaii in a report on Wednesday, October 12th. They issued a “hold” rating on the stock. Compass Point cut their price objective on Bank of Hawaii to $86.00 in a report on Thursday, October 27th. Finally, DA Davidson cut their price objective on Bank of Hawaii from $80.00 to $76.00 and set a “neutral” rating on the stock in a report on Tuesday, October 25th.
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, personal 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, and 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.
- Get a free copy of the StockNews.com research report on Bank of Hawaii (BOH)
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