Bank of Hawaii Co. (NYSE:BOH) Shares Sold by Arizona State Retirement System

Arizona State Retirement System lessened its holdings in Bank of Hawaii Co. (NYSE:BOH) by 1.6% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 11,106 shares of the bank’s stock after selling 183 shares during the period. Arizona State Retirement System’s holdings in Bank of Hawaii were worth $805,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Cullen Frost Bankers Inc. acquired a new position in Bank of Hawaii in the 3rd quarter worth approximately $37,000. IFP Advisors Inc purchased a new stake in Bank of Hawaii in the 3rd quarter worth approximately $39,000. Allspring Global Investments Holdings LLC boosted its position in Bank of Hawaii by 2,197.1% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 781 shares of the bank’s stock worth $39,000 after purchasing an additional 747 shares in the last quarter. Bessemer Group Inc. boosted its position in Bank of Hawaii by 160.9% in the 4th quarter. Bessemer Group Inc. now owns 647 shares of the bank’s stock worth $50,000 after purchasing an additional 399 shares in the last quarter. Finally, Covestor Ltd boosted its position in Bank of Hawaii by 72.4% in the 1st quarter. Covestor Ltd now owns 707 shares of the bank’s stock worth $59,000 after purchasing an additional 297 shares in the last quarter. Institutional investors and hedge funds own 82.18% of the company’s stock.

Bank of Hawaii Trading Down 0.5 %

Shares of NYSE:BOH opened at $56.26 on Thursday. Bank of Hawaii Co. has a 1 year low of $30.83 and a 1 year high of $75.19. The firm has a market capitalization of $2.24 billion, a price-to-earnings ratio of 13.56, a price-to-earnings-growth ratio of 1.96 and a beta of 1.06. The company has a debt-to-equity ratio of 0.45, a current ratio of 0.70 and a quick ratio of 0.70. The business’s 50 day moving average price is $60.67 and its 200-day moving average price is $60.44.

Bank of Hawaii (NYSE:BOH) last announced its earnings results on Monday, January 22nd. The bank reported $1.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.00 by $0.01. Bank of Hawaii had a return on equity of 14.35% and a net margin of 17.35%. The firm had revenue of $252.63 million for the quarter, compared to analyst estimates of $161.03 million. During the same quarter last year, the firm posted $1.50 EPS. On average, equities research analysts forecast that Bank of Hawaii Co. will post 3.72 earnings per share for the current fiscal year.

Bank of Hawaii Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 14th. Investors of record on Thursday, February 29th were paid a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 4.98%. The ex-dividend date of this dividend was Wednesday, February 28th. Bank of Hawaii’s dividend payout ratio is currently 67.47%.

Analyst Ratings Changes

Several equities research analysts have commented on BOH shares. StockNews.com upgraded Bank of Hawaii to a “sell” rating in a research report on Thursday, January 25th. Jefferies Financial Group lowered their price objective on Bank of Hawaii from $67.00 to $62.00 and set a “hold” rating on the stock in a research report on Monday, April 8th. Keefe, Bruyette & Woods lowered their price objective on Bank of Hawaii from $57.00 to $55.00 and set an “underperform” rating on the stock in a research report on Tuesday, January 23rd. Barclays began coverage on Bank of Hawaii in a research report on Friday, March 8th. They issued an “underweight” rating and a $51.00 price objective on the stock. Finally, Piper Sandler decreased their target price on Bank of Hawaii from $70.00 to $69.00 and set a “neutral” rating on the stock in a research report on Tuesday, January 23rd. Four research analysts have rated the stock with a sell rating and two have assigned a hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Reduce” and an average target price of $53.60.

Bank of Hawaii Profile

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, overdraft 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, as well as 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.