SG Americas Securities LLC reduced its stake in Bank of Hawaii Co. (NYSE:BOH – Get Rating) by 86.1% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,927 shares of the bank after selling 24,407 shares during the period. SG Americas Securities LLC’s holdings in Bank of Hawaii were valued at $299,000 at the time of the last SEC filing.
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Several other hedge funds and other institutional investors have also recently bought and sold shares in BOH. Victory Capital Management Inc. increased its position in Bank of Hawaii by 39.8% in the second quarter. Victory Capital Management Inc. now owns 2,167,240 shares of the bank valued at $161,242,000 after purchasing an additional 617,432 shares last quarter. Boston Trust Walden Corp increased its position in Bank of Hawaii stocks by 140.0% during the third quarter. Boston Trust Walden Corp now owns 576,762 shares of the bank valued at $43,903,000 after purchasing an additional 336,460 shares last quarter. State Street Corp increased its position in Bank of Hawaii stocks by 10.9% in the first quarter. State Street Corp now owns 1,777,119 shares of the bank valued at $149,136,000 after purchasing an additional 174,889 shares last quarter. Northern Trust Corp increased its position in Bank of Hawaii shares by 25.8% in the first quarter. Northern Trust Corp now owns 447,658 shares of the bank valued at $37,568,000 after purchasing an additional 91,791 shares last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in Bank of Hawaii stocks by 7.8% during the first quarter. Charles Schwab Investment Management Inc. now owns 770,983 shares of the bank, valued at $64,701,000, after purchasing an additional 55,707 shares last quarter. 74.29% of the shares are currently owned by institutional investors and hedge funds.
Insider buying and selling at the Bank of Hawaii
In other Bank of Hawaii news, CEO Peter S. Ho sold 5,500 shares of the stock in a transaction on Thursday, November 10. The stock sold at an average price of $79.30 for a total value of $436,150.00. Upon completion of the transaction, the Chief Executive Officer now directly owns 233,681 shares of the Company, valued at $18,530,903.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC’s website. Company insiders own 2.06% of the company’s shares.
Price development of the Bank of Hawaii
BOH opened at $75.61 on Monday. The company has a gearing ratio of 0.36, a current ratio of 0.65 and a quick ratio of 0.65. The stock has a market cap of $3.03 billion, a P/E of 13.80, a price-to-earnings-to-growth ratio of 1.85, and a beta of 1.01. The company’s 50-day simple moving average is $78.12 and its 200-day simple moving average is $78.26. The Bank of Hawaii Co. has a yearly low of $70.15 and a yearly high of $89.24.
The Bank of Hawaii (NYSE:BOH – Get Rating) last released its quarterly earnings results on Monday, January 23rd. The bank reported earnings per share of $1.50 for the quarter, beating analysts’ consensus estimate of $1.42 by $0.08. The company had revenue of $213.49 million for the quarter, compared to the consensus estimate of $181.09 million. Bank of Hawaii had a return on equity of 19.31% and a net margin of 29.91%. In the same quarter last year, the company posted $1.55 per share. Sell-side analysts expect Bank of Hawaii Co. to report earnings per share of 4.97 for the current fiscal year.
Bank of Hawaii Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 14th. Shareholders of record on Tuesday, February 28 will receive a dividend of $0.70. The ex-dividend date is Monday February 27th. That equates to an annualized dividend of $2.80 and a yield of 3.70%. Bank of Hawaii’s payout ratio is currently 51.09%.
Wall Street analysts forecast growth
Several analysts recently rated the stock. Compass Point downgraded shares of Bank of Hawaii from a “buy” rating to a “neutral” rating and set a price target of $71.00 for the stock. in a research paper on Tuesday, January 24. DA Davidson has lowered its price target on Bank of Hawaii shares to $76.00 from $80.00 and ranked the company at “neutral” in a report Tuesday, October 25. Finally, in a report Tuesday, December 6, StockNews.com downgraded shares of Bank of Hawaii from a “hold” rating to a “sell” rating.
About the Bank of Hawaii
The Bank of Hawaii Corp. is a bank holding company providing financial services. It operates through the following segments: Retail Banking, Commercial Banking, Investment Services and Private Banking, and Treasury and Other. The Retail Banking segment provides financial products and services to consumers and small businesses.
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