JPMorgan Chase & Co. Sells 17,800 Shares of Bank of Hawaii Corporation $BOH

JPMorgan Chase & Co. trimmed its position in Bank of Hawaii Corporation (NYSE:BOH) by 14.6% during the third quarter, HoldingsChannel reports. The institutional investor owned 104,144 shares of the bank’s stock after selling 17,800 shares during the period. JPMorgan Chase & Co.’s holdings in Bank of Hawaii were worth $6,836,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. DF Dent & Co. Inc. grew its stake in Bank of Hawaii by 4.8% during the third quarter. DF Dent & Co. Inc. now owns 3,433 shares of the bank’s stock valued at $225,000 after acquiring an additional 157 shares in the last quarter. MAI Capital Management lifted its stake in Bank of Hawaii by 5.7% in the 3rd quarter. MAI Capital Management now owns 2,972 shares of the bank’s stock worth $195,000 after purchasing an additional 160 shares in the last quarter. First Affirmative Financial Network boosted its holdings in Bank of Hawaii by 5.6% in the 3rd quarter. First Affirmative Financial Network now owns 3,353 shares of the bank’s stock valued at $220,000 after purchasing an additional 178 shares during the period. Cerity Partners LLC boosted its holdings in Bank of Hawaii by 1.2% in the 2nd quarter. Cerity Partners LLC now owns 16,391 shares of the bank’s stock valued at $1,107,000 after purchasing an additional 196 shares during the period. Finally, California State Teachers Retirement System grew its position in shares of Bank of Hawaii by 0.6% during the 2nd quarter. California State Teachers Retirement System now owns 36,698 shares of the bank’s stock valued at $2,478,000 after purchasing an additional 213 shares in the last quarter. 82.18% of the stock is currently owned by institutional investors.

Bank of Hawaii Trading Up 2.2%

Shares of BOH opened at $74.33 on Wednesday. The firm has a market cap of $2.95 billion, a price-to-earnings ratio of 16.09, a PEG ratio of 0.74 and a beta of 0.73. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.70 and a current ratio of 0.70. Bank of Hawaii Corporation has a fifty-two week low of $57.44 and a fifty-two week high of $80.61. The firm has a 50 day moving average price of $75.49 and a 200-day moving average price of $69.76.

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

Bank of Hawaii Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 13th. Shareholders of record on Friday, February 27th were given a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 3.8%. The ex-dividend date was Friday, February 27th. Bank of Hawaii’s dividend payout ratio is presently 60.61%.

Insider Activity

In other news, CEO Peter S. Ho sold 15,000 shares of Bank of Hawaii stock in a transaction dated Friday, January 2nd. The stock was sold at an average price of $67.87, for a total value of $1,018,050.00. Following the transaction, the chief executive officer owned 156,774 shares in the company, valued at approximately $10,640,251.38. The trade was a 8.73% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 1.97% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on BOH. Weiss Ratings upgraded Bank of Hawaii from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday. DA Davidson upped their target price on Bank of Hawaii from $73.00 to $81.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 27th. Barclays raised their price target on Bank of Hawaii from $75.00 to $83.00 and gave the company an “equal weight” rating in a report on Tuesday, January 27th. Stephens reiterated an “overweight” rating on shares of Bank of Hawaii in a research report on Tuesday, January 27th. Finally, 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. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $81.80.

Bank of Hawaii Profile

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.