Rhumbline Advisers Sells 2,332 Shares of Bank of Hawaii Co. (NYSE:BOH)

Rhumbline Advisers lessened its holdings in Bank of Hawaii Co. (NYSE:BOH) by 1.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 126,813 shares of the bank’s stock after selling 2,332 shares during the quarter. Rhumbline Advisers owned approximately 0.32% of Bank of Hawaii worth $6,604,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of BOH. Landscape Capital Management L.L.C. bought a new position in Bank of Hawaii during the 1st quarter worth approximately $447,000. River Oaks Capital LLC bought a new position in Bank of Hawaii during the 1st quarter worth approximately $203,000. Amalgamated Bank boosted its stake in Bank of Hawaii by 18.0% during the 4th quarter. Amalgamated Bank now owns 33,846 shares of the bank’s stock worth $2,625,000 after acquiring an additional 5,171 shares during the last quarter. State of New Jersey Common Pension Fund D boosted its stake in Bank of Hawaii by 9.2% during the 1st quarter. State of New Jersey Common Pension Fund D now owns 31,186 shares of the bank’s stock worth $1,624,000 after acquiring an additional 2,634 shares during the last quarter. Finally, Marble Harbor Investment Counsel LLC boosted its stake in Bank of Hawaii by 2.1% during the 4th quarter. Marble Harbor Investment Counsel LLC now owns 161,432 shares of the bank’s stock worth $12,521,000 after acquiring an additional 3,385 shares during the last quarter. Institutional investors own 82.46% of the company’s stock.

Bank of Hawaii Trading Down 4.1 %

BOH opened at $50.69 on Thursday. The stock has a market capitalization of $2.01 billion, a price-to-earnings ratio of 10.07, a P/E/G ratio of 1.72 and a beta of 1.03. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 1.49. Bank of Hawaii Co. has a twelve month low of $30.83 and a twelve month high of $82.87. The company has a 50-day simple moving average of $51.46 and a 200 day simple moving average of $50.66.

Bank of Hawaii (NYSE:BOH) last issued its quarterly earnings results on Monday, July 24th. The bank reported $1.12 earnings per share for the quarter, topping analysts’ consensus estimates of $1.11 by $0.01. Bank of Hawaii had a net margin of 23.76% and a return on equity of 18.03%. The company had revenue of $243.01 million during the quarter, compared to the consensus estimate of $170.52 million. During the same quarter in the prior year, the firm posted $1.38 EPS. Analysts predict that Bank of Hawaii Co. will post 4 EPS for the current fiscal year.

Bank of Hawaii Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Thursday, August 31st will be given a dividend of $0.70 per share. The ex-dividend date is Wednesday, August 30th. This represents a $2.80 annualized dividend and a yield of 5.52%. Bank of Hawaii’s dividend payout ratio is presently 55.56%.

Wall Street Analysts Forecast Growth

Several analysts have commented on BOH shares. Piper Sandler raised their target price on shares of Bank of Hawaii from $45.00 to $60.00 and gave the stock a “neutral” rating in a report on Tuesday, July 25th. StockNews.com upgraded shares of Bank of Hawaii to a “sell” rating in a report on Wednesday, May 31st. Odeon Capital Group started coverage on shares of Bank of Hawaii in a report on Wednesday, June 7th. They set a “sell” rating and a $31.00 target price on the stock. Finally, Keefe, Bruyette & Woods downgraded shares of Bank of Hawaii from a “market perform” rating to an “underperform” rating and set a $47.00 target price on the stock. in a report on Tuesday, July 25th. Three equities research analysts have rated the stock with a sell rating and three have issued a hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $52.80.

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.