Massachusetts Financial Services Co. MA Decreases Stock Holdings in Bank of Hawaii Co. (NYSE:BOH)

Massachusetts Financial Services Co. MA lessened its stake in Bank of Hawaii Co. (NYSE:BOH) by 60.8% in the 2nd quarter, Holdings Channel.com reports. The fund owned 156,333 shares of the bank’s stock after selling 242,249 shares during the quarter. Massachusetts Financial Services Co. MA’s holdings in Bank of Hawaii were worth $8,944,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in the stock. Quest Partners LLC purchased a new stake in shares of Bank of Hawaii during the fourth quarter worth about $41,000. Rothschild Investment LLC purchased a new stake in shares of Bank of Hawaii during the second quarter worth approximately $172,000. Clearbridge Investments LLC acquired a new position in Bank of Hawaii in the 4th quarter valued at $217,000. Central Pacific Bank Trust Division purchased a new position in Bank of Hawaii in the 1st quarter valued at $244,000. Finally, B. Riley Wealth Advisors Inc. acquired a new stake in Bank of Hawaii during the 1st quarter worth $283,000. 82.18% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on BOH shares. DA Davidson raised their price target on shares of Bank of Hawaii from $63.00 to $70.00 and gave the stock a “neutral” rating in a research note on Monday, July 29th. Piper Sandler cut Bank of Hawaii from a “neutral” rating to an “underweight” rating and lowered their target price for the stock from $70.00 to $61.00 in a report on Monday, August 12th. Keefe, Bruyette & Woods increased their price target on Bank of Hawaii from $58.00 to $60.00 and gave the company an “underperform” rating in a report on Tuesday, July 23rd. StockNews.com raised Bank of Hawaii to a “sell” rating in a research note on Thursday, May 30th. Finally, Jefferies Financial Group raised their target price on Bank of Hawaii from $53.00 to $54.00 and gave the stock a “hold” rating in a research note on Wednesday, July 3rd. Four equities research analysts have rated the stock with a sell rating and two have given a hold rating to the company’s stock. According to data from MarketBeat, Bank of Hawaii presently has a consensus rating of “Reduce” and an average price target of $59.00.

Bank of Hawaii Trading Down 3.1 %

Shares of Bank of Hawaii stock opened at $63.93 on Friday. Bank of Hawaii Co. has a fifty-two week low of $45.56 and a fifty-two week high of $75.19. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.71 and a current ratio of 0.71. The firm has a market capitalization of $2.54 billion, a price-to-earnings ratio of 16.48 and a beta of 1.05. The stock has a 50 day moving average of $65.70 and a 200 day moving average of $61.09.

Bank of Hawaii (NYSE:BOH) last released its quarterly earnings results on Monday, July 22nd. The bank reported $0.81 earnings per share for the quarter, missing analysts’ consensus estimates of $0.85 by ($0.04). The business had revenue of $255.62 million for the quarter, compared to analysts’ expectations of $157.12 million. Bank of Hawaii had a return on equity of 12.25% and a net margin of 14.54%. During the same quarter in the prior year, the company posted $1.12 earnings per share. As a group, research analysts predict that Bank of Hawaii Co. will post 3.45 earnings per share for the current year.

Bank of Hawaii Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Friday, August 30th were paid a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 4.38%. The ex-dividend date was Friday, August 30th. Bank of Hawaii’s dividend payout ratio (DPR) is 72.16%.

Insider Activity

In related news, insider Taryn L. Salmon sold 2,364 shares of Bank of Hawaii stock in a transaction that occurred on Thursday, July 25th. The shares were sold at an average price of $67.80, for a total value of $160,279.20. Following the completion of the sale, the insider now owns 10,785 shares in the company, valued at approximately $731,223. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 2.11% of the company’s stock.

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.