First Hawaiian Bank Decreases Stock Holdings in Bank of Hawaii Corporation $BOH

First Hawaiian Bank lessened its stake in Bank of Hawaii Corporation (NYSE:BOH) by 45.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 17,422 shares of the bank’s stock after selling 14,564 shares during the period. First Hawaiian Bank’s holdings in Bank of Hawaii were worth $1,191,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in BOH. Tudor Investment Corp ET AL lifted its holdings in shares of Bank of Hawaii by 33.6% during the 3rd quarter. Tudor Investment Corp ET AL now owns 105,845 shares of the bank’s stock valued at $6,948,000 after buying an additional 26,634 shares during the period. CIBC Bancorp USA Inc. purchased a new stake in Bank of Hawaii during the third quarter valued at $276,000. First Affirmative Financial Network increased its position in Bank of Hawaii by 5.6% during the third quarter. First Affirmative Financial Network now owns 3,353 shares of the bank’s stock valued at $220,000 after acquiring an additional 178 shares during the last quarter. Advisory Services Network LLC bought a new position in Bank of Hawaii in the third quarter valued at about $63,000. Finally, CANADA LIFE ASSURANCE Co lifted its holdings in Bank of Hawaii by 2.0% in the third quarter. CANADA LIFE ASSURANCE Co now owns 40,547 shares of the bank’s stock valued at $2,658,000 after acquiring an additional 794 shares during the period. 82.18% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

BOH has been the topic of several recent research reports. Stephens reiterated an “overweight” rating on shares of Bank of Hawaii in a research note on Tuesday, January 27th. Zacks Research raised shares of Bank of Hawaii from a “hold” rating to a “strong-buy” rating in a report on Wednesday, January 28th. Wall Street Zen upgraded shares of Bank of Hawaii from a “sell” rating to a “hold” rating in a research report on Saturday, January 31st. Keefe, Bruyette & Woods upgraded shares of Bank of Hawaii from a “market perform” rating to an “outperform” rating and lifted their price target for the stock from $75.00 to $91.00 in a research note on Tuesday, January 27th. Finally, Barclays boosted their price objective on shares of Bank of Hawaii from $75.00 to $83.00 and gave the company an “equal weight” rating in a research report on Tuesday, January 27th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $81.80.

Bank of Hawaii Stock Down 0.4%

BOH stock opened at $71.26 on Friday. The business’s 50-day moving average price is $75.11 and its 200-day moving average price is $69.46. The stock has a market cap of $2.83 billion, a P/E ratio of 15.42, a PEG ratio of 0.73 and a beta of 0.73. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.37. Bank of Hawaii Corporation has a twelve month low of $57.44 and a twelve month high of $80.61.

Bank of Hawaii (NYSE:BOH) last released its earnings results on Monday, January 26th. The bank reported $1.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.25 by $0.14. Bank of Hawaii had a net margin of 19.30% and a return on equity of 14.42%. The company had revenue of $189.65 million during the quarter, compared to analyst estimates of $184.83 million. During the same period in the prior year, the firm posted $0.85 EPS. On average, equities research analysts forecast that Bank of Hawaii Corporation will post 3.97 EPS for the current year.

Bank of Hawaii Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 13th. Stockholders of record on Friday, February 27th were paid a $0.70 dividend. The ex-dividend date of this dividend was Friday, February 27th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.9%. Bank of Hawaii’s dividend payout ratio is 60.61%.

Insider Activity

In other news, CEO Peter S. Ho sold 15,000 shares of the firm’s stock in a transaction on Friday, January 2nd. The shares were sold at an average price of $67.87, for a total transaction of $1,018,050.00. Following the sale, the chief executive officer directly owned 156,774 shares in the company, valued at $10,640,251.38. This trade represents a 8.73% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 2.07% of the stock is currently owned by company insiders.

About Bank of Hawaii

Bank of Hawaii (NYSE: BOH) is a regional commercial bank headquartered in Honolulu, Hawaii, with roots tracing back to its founding in 1897 by Charles Montague Cooke and Peter Cushman Jones. As one of the oldest financial institutions in the U.S. West Coast region, the bank has built a reputation for stability and community focus. It operates as the principal subsidiary of Bank of Hawaii Corporation, a publicly traded company on the New York Stock Exchange.

The bank offers a comprehensive suite of personal and business banking products and services.