Bank of New York Mellon Corp Sells 12,404 Shares of Bank of Hawaii Corporation (NYSE:BOH)

Bank of New York Mellon Corp decreased its position in Bank of Hawaii Corporation (NYSE:BOH) by 3.0% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 406,978 shares of the bank’s stock after selling 12,404 shares during the quarter. Bank of New York Mellon Corp owned approximately 1.02% of Bank of Hawaii worth $28,069,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in BOH. Versant Capital Management Inc grew its stake in shares of Bank of Hawaii by 80.2% in the first quarter. Versant Capital Management Inc now owns 391 shares of the bank’s stock worth $27,000 after acquiring an additional 174 shares during the last quarter. Private Trust Co. NA grew its stake in shares of Bank of Hawaii by 18,333.3% in the first quarter. Private Trust Co. NA now owns 553 shares of the bank’s stock worth $38,000 after acquiring an additional 550 shares during the last quarter. Golden State Wealth Management LLC grew its stake in shares of Bank of Hawaii by 110.5% in the first quarter. Golden State Wealth Management LLC now owns 581 shares of the bank’s stock worth $40,000 after acquiring an additional 305 shares during the last quarter. Public Employees Retirement System of Ohio purchased a new stake in shares of Bank of Hawaii in the fourth quarter worth $49,000. Finally, Headlands Technologies LLC grew its stake in shares of Bank of Hawaii by 285.8% in the fourth quarter. Headlands Technologies LLC now owns 949 shares of the bank’s stock worth $68,000 after acquiring an additional 703 shares during the last quarter. Institutional investors own 82.18% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Barclays increased their target price on Bank of Hawaii from $67.00 to $68.00 and gave the stock an “underweight” rating in a research note on Tuesday, July 8th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $77.20.

Bank of Hawaii Trading Up 0.1%

Bank of Hawaii stock opened at $67.07 on Thursday. The company has a debt-to-equity ratio of 0.41, a current ratio of 0.71 and a quick ratio of 0.71. Bank of Hawaii Corporation has a one year low of $57.45 and a one year high of $82.70. The stock has a market capitalization of $2.67 billion, a PE ratio of 18.84, a price-to-earnings-growth ratio of 1.08 and a beta of 0.77. The business’s fifty day moving average is $67.90 and its 200 day moving average is $68.73.

Bank of Hawaii (NYSE:BOH) last released its quarterly earnings data on Monday, April 21st. The bank reported $0.97 EPS for the quarter, beating the consensus estimate of $0.89 by $0.08. Bank of Hawaii had a return on equity of 12.16% and a net margin of 15.12%. The company had revenue of $169.87 million for the quarter, compared to analysts’ expectations of $168.65 million. During the same period last year, the firm posted $0.87 earnings per share. On average, sell-side analysts predict that Bank of Hawaii Corporation will post 3.97 EPS for the current year.

Bank of Hawaii Announces Dividend

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

Insider Transactions at Bank of Hawaii

In other Bank of Hawaii news, insider Taryn L. Salmon sold 1,652 shares of the firm’s stock in a transaction dated Thursday, April 24th. The stock was sold at an average price of $66.15, for a total value of $109,279.80. Following the transaction, the insider directly owned 6,442 shares of the company’s stock, valued at approximately $426,138.30. This trade represents a 20.41% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 2.07% of the company’s stock.

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, 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.