Congress Asset Management Co. MA Sells 1,618 Shares of Bank of Hawaii Co. (NYSE:BOH)

Congress Asset Management Co. MA decreased its stake in shares of Bank of Hawaii Co. (NYSE:BOH) by 3.3% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 47,369 shares of the bank’s stock after selling 1,618 shares during the quarter. Congress Asset Management Co. MA owned about 0.12% of Bank of Hawaii worth $2,955,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. increased its holdings in Bank of Hawaii by 1.9% during the fourth quarter. Vanguard Group Inc. now owns 4,650,102 shares of the bank’s stock worth $336,946,000 after buying an additional 87,919 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Bank of Hawaii by 2.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,142,123 shares of the bank’s stock valued at $82,758,000 after purchasing an additional 24,031 shares during the period. Massachusetts Financial Services Co. MA lifted its stake in Bank of Hawaii by 0.5% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 508,933 shares of the bank’s stock valued at $36,877,000 after purchasing an additional 2,495 shares during the last quarter. Goldman Sachs Group Inc. grew its holdings in Bank of Hawaii by 105.6% during the fourth quarter. Goldman Sachs Group Inc. now owns 451,528 shares of the bank’s stock worth $32,718,000 after purchasing an additional 231,909 shares during the period. Finally, Northern Trust Corp increased its position in Bank of Hawaii by 0.9% during the third quarter. Northern Trust Corp now owns 415,092 shares of the bank’s stock worth $20,626,000 after buying an additional 3,736 shares during the last quarter. Institutional investors own 82.18% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on BOH shares. Piper Sandler dropped their price target on Bank of Hawaii from $65.00 to $60.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 23rd. StockNews.com raised shares of Bank of Hawaii to a “sell” rating in a report on Thursday, May 30th. Barclays lowered their price target on shares of Bank of Hawaii from $51.00 to $50.00 and set an “underweight” rating on the stock in a report on Tuesday, April 23rd. Keefe, Bruyette & Woods boosted their price objective on Bank of Hawaii from $55.00 to $58.00 and gave the stock an “underperform” rating in a report on Tuesday, April 23rd. Finally, Jefferies Financial Group lowered their target price on Bank of Hawaii from $67.00 to $62.00 and set a “hold” rating on the stock in a research note on Monday, April 8th. Three equities research analysts have rated the stock with a sell rating and two have given a hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Reduce” and a consensus price target of $57.50.

Bank of Hawaii Stock Performance

Shares of NYSE:BOH opened at $56.01 on Friday. Bank of Hawaii Co. has a 12-month low of $39.02 and a 12-month high of $75.19. The company’s 50 day moving average price is $57.74 and its two-hundred day moving average price is $62.16. The firm has a market cap of $2.22 billion, a PE ratio of 14.44 and a beta of 1.07. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.45.

Bank of Hawaii (NYSE:BOH) last issued its quarterly earnings results on Friday, April 26th. The bank reported $0.87 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.05). The company had revenue of $252.64 million for the quarter, compared to analyst estimates of $160.79 million. Bank of Hawaii had a return on equity of 13.25% and a net margin of 15.91%. During the same period in the prior year, the company earned $1.14 EPS. Equities research analysts predict that Bank of Hawaii Co. will post 3.47 earnings per share for the current year.

Bank of Hawaii Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, June 14th. Investors of record on Friday, May 31st were paid a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 5.00%. The ex-dividend date of this dividend was Friday, May 31st. Bank of Hawaii’s dividend payout ratio (DPR) is presently 72.16%.

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.