BlackRock Inc. Sells 33,271 Shares of Bank of Hawaii Co. (NYSE:BOH)

BlackRock Inc. cut its stake in shares of Bank of Hawaii Co. (NYSE:BOH – Get Rating) by 0.9% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 3,767,408 shares of the bank’s stock after selling 33,271 shares during the quarter. BlackRock Inc. owned approximately 9.42% of Bank of Hawaii worth $286,775,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in BOH. JPMorgan Chase & Co. lifted its holdings in shares of Bank of Hawaii by 5.8% during the first quarter. JPMorgan Chase & Co. now owns 70,245 shares of the bank’s stock valued at $5,895,000 after acquiring an additional 3,843 shares during the period. Raymond James Financial Services Advisors Inc. increased its stake in shares of Bank of Hawaii by 15.3% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 15,739 shares of the bank’s stock valued at $1,322,000 after buying an additional 2,093 shares in the last quarter. Cambridge Investment Research Advisors Inc. increased its stake in shares of Bank of Hawaii by 43.8% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 14,531 shares of the bank’s stock valued at $1,219,000 after buying an additional 4,423 shares in the last quarter. Private Advisor Group LLC increased its stake in shares of Bank of Hawaii by 6.1% in the first quarter. Private Advisor Group LLC now owns 8,757 shares of the bank’s stock valued at $735,000 after buying an additional 501 shares in the last quarter. Finally, MetLife Investment Management LLC increased its stake in shares of Bank of Hawaii by 32.7% in the first quarter. MetLife Investment Management LLC now owns 26,023 shares of the bank’s stock valued at $2,184,000 after buying an additional 6,407 shares in the last quarter. 74.29% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on BOH shares. StockNews.com lowered Bank of Hawaii from a “hold” rating to a “sell” rating in a research note on Tuesday, December 6th. Compass Point lowered Bank of Hawaii from a “buy” rating to a “neutral” rating and set a $71.00 target price for the company. in a research note on Tuesday, January 24th.

Insider Buying and Selling

In other news, CEO Peter S. Ho sold 7,000 shares of the business’s stock in a transaction dated Friday, February 10th. The stock was sold at an average price of $76.40, for a total transaction of $534,800.00. Following the completion of the transaction, the chief executive officer now directly owns 226,681 shares in the company, valued at approximately $17,318,428.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 2.06% of the company’s stock.

Bank of Hawaii Price Performance

Shares of BOH stock opened at $63.38 on Friday. The stock has a 50-day moving average price of $76.37 and a 200 day moving average price of $77.31. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.36. The firm has a market cap of $2.52 billion, a price-to-earnings ratio of 11.57, a PEG ratio of 1.59 and a beta of 1.01. Bank of Hawaii Co. has a 12 month low of $59.90 and a 12 month high of $87.27.

Bank of Hawaii (NYSE:BOH – Get Rating) last announced its quarterly earnings data on Monday, January 23rd. The bank reported $1.50 EPS for the quarter, topping analysts’ consensus estimates of $1.42 by $0.08. The firm had revenue of $213.49 million during the quarter, compared to analyst estimates of $181.09 million. Bank of Hawaii had a return on equity of 19.31% and a net margin of 29.91%. During the same period last year, the company earned $1.55 earnings per share. Research analysts expect that Bank of Hawaii Co. will post 4.97 EPS for the current year.

Bank of Hawaii Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 14th. Investors of record on Tuesday, February 28th will be given a $0.70 dividend. The ex-dividend date is Monday, February 27th. This represents a $2.80 dividend on an annualized basis and a yield of 4.42%. Bank of Hawaii’s payout ratio is 51.09%.

About Bank of Hawaii

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Bank of Hawaii Corp. operates as a bank holding company, which engages in the provision of 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 offers financial products and services to consumers and small businesses.