Amalgamated Bank Reduces Stock Position in Bank of Hawaii Co. (NYSE:BOH)

Amalgamated Bank reduced its holdings in shares of Bank of Hawaii Co. (NYSE:BOH) by 4.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,113 shares of the bank’s stock after selling 508 shares during the quarter. Amalgamated Bank’s holdings in Bank of Hawaii were worth $693,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. TFO Wealth Partners LLC grew its holdings in shares of Bank of Hawaii by 9,660.0% during the 4th quarter. TFO Wealth Partners LLC now owns 488 shares of the bank’s stock valued at $362,000 after purchasing an additional 483 shares during the last quarter. Rothschild Investment LLC bought a new position in shares of Bank of Hawaii during the second quarter valued at $172,000. Central Pacific Bank Trust Division bought a new position in Bank of Hawaii in the first quarter valued at about $244,000. B. Riley Wealth Advisors Inc. bought a new position in shares of Bank of Hawaii in the first quarter worth about $283,000. Finally, Vancity Investment Management Ltd bought a new position in shares of Bank of Hawaii in the first quarter worth about $291,000. 82.18% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

Insider Activity at Bank of Hawaii

In other news, insider Taryn L. Salmon sold 2,364 shares of the stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $67.80, for a total value of $160,279.20. Following the transaction, the insider now directly owns 10,785 shares of the company’s stock, valued at $731,223. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.11% of the stock is currently owned by corporate insiders.

Bank of Hawaii Stock Performance

NYSE BOH opened at $62.43 on Friday. The business’s 50 day moving average price is $65.37 and its 200-day moving average price is $61.11. 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 company has a market cap of $2.48 billion, a P/E ratio of 16.09 and a beta of 1.05.

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

Bank of Hawaii Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Friday, August 30th were given a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 4.49%. The ex-dividend date was Friday, August 30th. Bank of Hawaii’s dividend payout ratio is currently 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.