Mutual of America Capital Management LLC Trims Stake in Bank of Hawaii Corporation $BOH

Mutual of America Capital Management LLC lessened its stake in Bank of Hawaii Corporation (NYSE:BOH) by 11.8% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,104 shares of the bank’s stock after selling 685 shares during the period. Mutual of America Capital Management LLC’s holdings in Bank of Hawaii were worth $345,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in BOH. Kayne Anderson Rudnick Investment Management LLC boosted its holdings in Bank of Hawaii by 23.7% during the first quarter. Kayne Anderson Rudnick Investment Management LLC now owns 2,180,744 shares of the bank’s stock worth $150,406,000 after buying an additional 418,055 shares in the last quarter. Ameriprise Financial Inc. raised its position in shares of Bank of Hawaii by 9.2% in the first quarter. Ameriprise Financial Inc. now owns 706,105 shares of the bank’s stock worth $48,700,000 after acquiring an additional 59,215 shares during the period. 140 Summer Partners LP purchased a new stake in shares of Bank of Hawaii during the 1st quarter worth about $41,633,000. Natixis Advisors LLC grew its position in shares of Bank of Hawaii by 13.0% during the 1st quarter. Natixis Advisors LLC now owns 325,174 shares of the bank’s stock valued at $22,427,000 after acquiring an additional 37,413 shares during the period. Finally, Millennium Management LLC increased its stake in shares of Bank of Hawaii by 4,090.7% in the 1st quarter. Millennium Management LLC now owns 302,315 shares of the bank’s stock valued at $20,851,000 after purchasing an additional 295,101 shares in the last quarter. Institutional investors and hedge funds own 82.18% of the company’s stock.

Bank of Hawaii Price Performance

NYSE:BOH opened at $65.62 on Wednesday. Bank of Hawaii Corporation has a one year low of $57.44 and a one year high of $82.70. The stock has a market cap of $2.61 billion, a PE ratio of 16.08, a P/E/G ratio of 0.75 and a beta of 0.81. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.70 and a current ratio of 0.70. The stock has a 50 day moving average price of $65.72 and a 200 day moving average price of $66.31.

Bank of Hawaii (NYSE:BOH) last posted its quarterly earnings results on Monday, October 27th. The bank reported $1.20 EPS for the quarter, topping the consensus estimate of $1.13 by $0.07. Bank of Hawaii had a return on equity of 13.33% and a net margin of 17.41%.The business had revenue of $182.64 million for the quarter, compared to analyst estimates of $180.95 million. During the same quarter in the previous year, the firm earned $0.93 EPS. Equities research analysts expect that Bank of Hawaii Corporation will post 3.97 EPS for the current fiscal year.

Bank of Hawaii Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 12th. Investors of record on Friday, November 28th will be given a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 4.3%. The ex-dividend date is Friday, November 28th. Bank of Hawaii’s dividend payout ratio is presently 68.63%.

Analyst Upgrades and Downgrades

Several brokerages have commented on BOH. Stephens dropped their price objective on Bank of Hawaii from $78.00 to $76.00 and set an “overweight” rating on the stock in a report on Tuesday, July 29th. Barclays increased their target price on Bank of Hawaii from $66.00 to $68.00 and gave the company an “underweight” rating in a research report on Tuesday. Weiss Ratings reissued a “hold (c)” rating on shares of Bank of Hawaii in a report on Wednesday, October 8th. Piper Sandler assumed coverage on shares of Bank of Hawaii in a research report on Thursday, August 21st. They set a “neutral” rating and a $71.00 price objective for the company. Finally, DA Davidson reiterated a “neutral” rating and issued a $70.00 target price on shares of Bank of Hawaii in a research report on Tuesday. One research analyst has rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Bank of Hawaii currently has an average rating of “Hold” and an average price target of $73.20.

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.