State of Alaska Department of Revenue Cuts Stock Position in Bank of Hawaii Corporation (NYSE:BOH)

State of Alaska Department of Revenue lessened its position in shares of Bank of Hawaii Corporation (NYSE:BOH) by 2.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 22,024 shares of the bank’s stock after selling 514 shares during the quarter. State of Alaska Department of Revenue owned about 0.06% of Bank of Hawaii worth $1,518,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of BOH. Mariner LLC boosted its stake in Bank of Hawaii by 1.7% in the 4th quarter. Mariner LLC now owns 9,076 shares of the bank’s stock worth $647,000 after purchasing an additional 154 shares in the last quarter. Cetera Investment Advisers raised its holdings in shares of Bank of Hawaii by 3.7% in the fourth quarter. Cetera Investment Advisers now owns 4,457 shares of the bank’s stock worth $318,000 after buying an additional 158 shares during the last quarter. Versant Capital Management Inc lifted its stake in shares of Bank of Hawaii by 80.2% during the first quarter. Versant Capital Management Inc now owns 391 shares of the bank’s stock worth $27,000 after buying an additional 174 shares during the period. Bank of Montreal Can lifted its stake in shares of Bank of Hawaii by 5.9% during the fourth quarter. Bank of Montreal Can now owns 4,592 shares of the bank’s stock worth $327,000 after buying an additional 254 shares during the period. Finally, Summit Investment Advisors Inc. grew its holdings in shares of Bank of Hawaii by 6.8% during the fourth quarter. Summit Investment Advisors Inc. now owns 4,089 shares of the bank’s stock valued at $291,000 after buying an additional 260 shares during the last quarter. 82.18% of the stock is currently owned by institutional investors and hedge funds.

Bank of Hawaii Stock Performance

Shares of NYSE BOH opened at $67.10 on Wednesday. The company has a 50 day simple moving average of $67.01 and a two-hundred day simple moving average of $69.04. The stock has a market cap of $2.67 billion, a price-to-earnings ratio of 18.85, a PEG ratio of 1.03 and a beta of 0.77. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.41. Bank of Hawaii Corporation has a 12 month low of $55.58 and a 12 month high of $82.70.

Bank of Hawaii (NYSE:BOH) last posted its earnings results 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 company had revenue of $169.87 million during the quarter, compared to the consensus estimate of $168.65 million. Bank of Hawaii had a net margin of 15.12% and a return on equity of 12.16%. During the same period in the previous year, the firm posted $0.87 earnings per share. As a group, analysts predict that Bank of Hawaii Corporation will post 3.97 earnings per share for the current year.

Bank of Hawaii Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, June 13th. Investors of record on Friday, May 30th were issued a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 4.17%. The ex-dividend date was Friday, May 30th. Bank of Hawaii’s dividend payout ratio (DPR) is 78.65%.

Insider Buying and Selling

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

Wall Street Analysts Forecast Growth

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

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.