Millennium Management LLC Sells 471,405 Shares of Bank of Hawaii Co. (NYSE:BOH)

Millennium Management LLC trimmed its holdings in shares of Bank of Hawaii Co. (NYSE:BOH) by 98.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 7,214 shares of the bank’s stock after selling 471,405 shares during the quarter. Millennium Management LLC’s holdings in Bank of Hawaii were worth $514,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Swiss National Bank raised its position in shares of Bank of Hawaii by 0.8% during the 4th quarter. Swiss National Bank now owns 78,137 shares of the bank’s stock valued at $5,566,000 after buying an additional 600 shares in the last quarter. JPMorgan Chase & Co. raised its position in shares of Bank of Hawaii by 188.8% during the 4th quarter. JPMorgan Chase & Co. now owns 250,094 shares of the bank’s stock valued at $17,817,000 after buying an additional 163,503 shares in the last quarter. Principal Financial Group Inc. raised its position in shares of Bank of Hawaii by 2.9% during the 4th quarter. Principal Financial Group Inc. now owns 192,718 shares of the bank’s stock valued at $13,729,000 after buying an additional 5,451 shares in the last quarter. Norges Bank purchased a new stake in shares of Bank of Hawaii during the 4th quarter valued at about $27,495,000. Finally, Marble Harbor Investment Counsel LLC raised its position in shares of Bank of Hawaii by 8.0% during the 4th quarter. Marble Harbor Investment Counsel LLC now owns 89,304 shares of the bank’s stock valued at $6,362,000 after buying an additional 6,610 shares in the last quarter. 82.18% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Separately, Barclays upped their target price on shares of Bank of Hawaii from $64.00 to $67.00 and gave the company an “underweight” rating in a research report on Tuesday, April 22nd. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the stock. According to MarketBeat, Bank of Hawaii presently has a consensus rating of “Hold” and a consensus target price of $73.17.

Insider Buying and Selling at Bank of Hawaii

In related news, insider Taryn L. Salmon sold 1,652 shares of the business’s stock in a transaction dated Thursday, April 24th. The shares were sold at an average price of $66.15, for a total transaction of $109,279.80. Following the transaction, the insider now directly owns 6,442 shares in the company, valued at approximately $426,138.30. The trade was a 20.41% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 2.07% of the stock is owned by corporate insiders.

Bank of Hawaii Stock Performance

Shares of NYSE:BOH opened at $66.91 on Monday. The firm has a market cap of $2.66 billion, a PE ratio of 19.34 and a beta of 0.77. The firm’s 50 day simple moving average is $66.14 and its 200-day simple moving average is $70.04. Bank of Hawaii Co. has a one year low of $54.98 and a one year high of $82.70. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.71 and a current ratio of 0.71.

Bank of Hawaii (NYSE:BOH) last released its quarterly earnings data on Monday, April 21st. The bank reported $0.97 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.89 by $0.08. The firm had revenue of $169.87 million for the quarter, compared to the consensus estimate of $168.65 million. Bank of Hawaii had a net margin of 14.47% and a return on equity of 11.81%. During the same period last year, the firm earned $0.87 earnings per share. As a group, equities analysts predict that Bank of Hawaii Co. will post 3.97 EPS for the current year.

Bank of Hawaii Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 13th. Investors of record on Friday, May 30th will be issued a dividend of $0.70 per share. The ex-dividend date is Friday, May 30th. This represents a $2.80 annualized dividend and a dividend yield of 4.18%. Bank of Hawaii’s dividend payout ratio (DPR) is presently 78.65%.

Bank of Hawaii Company 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.