Bank of Hawaii Corporation $BOH Shares Sold by Citigroup Inc.

Citigroup Inc. cut its holdings in shares of Bank of Hawaii Corporation (NYSE:BOH) by 32.1% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 56,041 shares of the bank’s stock after selling 26,500 shares during the period. Citigroup Inc. owned 0.14% of Bank of Hawaii worth $3,679,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Federated Hermes Inc. raised its stake in Bank of Hawaii by 1,736.0% in the third quarter. Federated Hermes Inc. now owns 35,380 shares of the bank’s stock valued at $2,322,000 after buying an additional 33,453 shares during the last quarter. Peterson Wealth Services boosted its stake in Bank of Hawaii by 4,266.5% in the 3rd quarter. Peterson Wealth Services now owns 17,466 shares of the bank’s stock worth $1,146,000 after purchasing an additional 17,066 shares in the last quarter. Public Sector Pension Investment Board grew its position in Bank of Hawaii by 14.6% during the 3rd quarter. Public Sector Pension Investment Board now owns 155,147 shares of the bank’s stock worth $10,184,000 after purchasing an additional 19,815 shares during the last quarter. Campbell & CO Investment Adviser LLC acquired a new position in Bank of Hawaii during the 2nd quarter valued at approximately $3,222,000. Finally, Capital Fund Management S.A. acquired a new position in Bank of Hawaii during the 2nd quarter valued at approximately $2,238,000. Institutional investors and hedge funds own 82.18% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on BOH shares. Keefe, Bruyette & Woods upgraded shares of Bank of Hawaii from a “market perform” rating to an “outperform” rating and lifted their price objective for the stock from $75.00 to $91.00 in a research note on Tuesday, January 27th. Stephens restated an “overweight” rating on shares of Bank of Hawaii in a research note on Tuesday, January 27th. Zacks Research raised Bank of Hawaii from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, January 28th. Barclays increased their price objective on Bank of Hawaii from $75.00 to $83.00 and gave the company an “equal weight” rating in a report on Tuesday, January 27th. Finally, Wall Street Zen upgraded Bank of Hawaii from a “sell” rating to a “hold” rating in a research note on Saturday, January 31st. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $81.80.

Insiders Place Their Bets

In other Bank of Hawaii news, CEO Peter S. Ho sold 15,000 shares of the stock in a transaction on Friday, January 2nd. The shares were sold at an average price of $67.87, for a total transaction of $1,018,050.00. Following the transaction, the chief executive officer directly owned 156,774 shares of the company’s stock, valued at $10,640,251.38. This trade represents a 8.73% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 2.07% of the company’s stock.

Bank of Hawaii Price Performance

Shares of Bank of Hawaii stock opened at $76.78 on Friday. The firm has a market cap of $3.05 billion, a PE ratio of 16.62, a P/E/G ratio of 0.80 and a beta of 0.73. Bank of Hawaii Corporation has a twelve month low of $57.44 and a twelve month high of $80.61. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.37. The business has a 50-day moving average price of $74.35 and a 200 day moving average price of $69.04.

Bank of Hawaii (NYSE:BOH) last issued its quarterly earnings data on Monday, January 26th. The bank reported $1.39 EPS for the quarter, beating the consensus estimate of $1.25 by $0.14. The company had revenue of $189.65 million for the quarter, compared to analyst estimates of $184.83 million. Bank of Hawaii had a return on equity of 14.42% and a net margin of 19.30%.During the same period last year, the company earned $0.85 earnings per share. Sell-side analysts predict that Bank of Hawaii Corporation will post 3.97 earnings per share for the current fiscal year.

Bank of Hawaii Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 13th. Investors of record on Friday, February 27th will be issued a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 3.6%. The ex-dividend date of this dividend is Friday, February 27th. Bank of Hawaii’s payout ratio is presently 60.61%.

Bank of Hawaii Company Profile

Bank of Hawaii (NYSE: BOH) is a regional commercial bank headquartered in Honolulu, Hawaii, with roots tracing back to its founding in 1897 by Charles Montague Cooke and Peter Cushman Jones. As one of the oldest financial institutions in the U.S. West Coast region, the bank has built a reputation for stability and community focus. It operates as the principal subsidiary of Bank of Hawaii Corporation, a publicly traded company on the New York Stock Exchange.

The bank offers a comprehensive suite of personal and business banking products and services.