Franklin Resources Inc. Sells 1,247 Shares of Bank of Hawaii Co. (NYSE:BOH)

Franklin Resources Inc. decreased its position in shares of Bank of Hawaii Co. (NYSE:BOH) by 9.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 12,668 shares of the bank’s stock after selling 1,247 shares during the period. Franklin Resources Inc.’s holdings in Bank of Hawaii were worth $846,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in BOH. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Bank of Hawaii in the 2nd quarter valued at approximately $106,000. Point72 DIFC Ltd bought a new stake in shares of Bank of Hawaii during the second quarter worth $119,000. UMB Bank n.a. increased its stake in Bank of Hawaii by 5,508.3% in the 3rd quarter. UMB Bank n.a. now owns 2,692 shares of the bank’s stock worth $169,000 after buying an additional 2,644 shares during the period. Rothschild Investment LLC bought a new stake in Bank of Hawaii during the 2nd quarter valued at about $172,000. Finally, Crestwood Advisors Group LLC bought a new stake in shares of Bank of Hawaii during the third quarter valued at approximately $207,000. Institutional investors own 82.18% of the company’s stock.

Bank of Hawaii Price Performance

NYSE:BOH opened at $70.39 on Monday. The stock has a market capitalization of $2.80 billion, a PE ratio of 21.14, a price-to-earnings-growth ratio of 4.86 and a beta of 1.03. Bank of Hawaii Co. has a 52 week low of $54.50 and a 52 week high of $82.70. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.42. The stock’s 50-day moving average price is $74.42 and its 200-day moving average price is $67.18.

Bank of Hawaii (NYSE:BOH) last announced its earnings results on Monday, October 28th. The bank reported $0.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.82 by $0.11. The business had revenue of $265.76 million for the quarter, compared to analyst estimates of $160.29 million. Bank of Hawaii had a net margin of 13.76% and a return on equity of 11.33%. During the same quarter last year, the business earned $1.17 earnings per share. As a group, equities analysts expect that Bank of Hawaii Co. will post 3.52 EPS for the current fiscal year.

Bank of Hawaii Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Friday, November 29th were paid a dividend of $0.70 per share. The ex-dividend date of this dividend was Friday, November 29th. This represents a $2.80 annualized dividend and a yield of 3.98%. Bank of Hawaii’s dividend payout ratio is presently 84.08%.

Analyst Ratings Changes

Several analysts recently weighed in on the company. Keefe, Bruyette & Woods lifted their price objective on Bank of Hawaii from $74.00 to $81.00 and gave the company a “market perform” rating in a report on Wednesday, December 4th. Piper Sandler raised their price objective on Bank of Hawaii from $61.00 to $66.00 and gave the stock an “underweight” rating in a research report on Tuesday, October 29th. Barclays raised their price target on Bank of Hawaii from $56.00 to $66.00 and gave the stock an “underweight” rating in a report on Thursday, December 5th. DA Davidson raised their target price on Bank of Hawaii from $65.00 to $74.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 29th. Finally, Stephens started coverage on Bank of Hawaii in a research report on Wednesday, November 27th. They set an “overweight” rating and a $90.00 price target on the stock. Three equities research analysts have rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat.com, Bank of Hawaii presently has a consensus rating of “Hold” and an average price target of $71.83.

Insiders Place Their Bets

In other news, insider Matthew Emerson sold 1,355 shares of the stock in a transaction that occurred on Wednesday, October 30th. The shares were sold at an average price of $72.27, for a total value of $97,925.85. Following the completion of the sale, the insider now owns 13,717 shares of the company’s stock, valued at $991,327.59. This represents a 8.99 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 2.11% of the company’s stock.

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.