Bank of New York Mellon Corp Trims Stock Holdings in Bank of Hawaii Co. (NYSE:BOH)

Bank of New York Mellon Corp trimmed its position in Bank of Hawaii Co. (NYSE:BOH) by 2.8% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 419,382 shares of the bank’s stock after selling 12,135 shares during the period. Bank of New York Mellon Corp’s holdings in Bank of Hawaii were worth $29,877,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. Handelsbanken Fonder AB lifted its holdings in shares of Bank of Hawaii by 19.9% during the 4th quarter. Handelsbanken Fonder AB now owns 9,037 shares of the bank’s stock worth $644,000 after acquiring an additional 1,500 shares during the last quarter. Wealth Alliance purchased a new position in shares of Bank of Hawaii during the fourth quarter valued at about $222,000. Principal Financial Group Inc. increased its position in shares of Bank of Hawaii by 2.9% during the fourth quarter. Principal Financial Group Inc. now owns 192,718 shares of the bank’s stock valued at $13,729,000 after buying an additional 5,451 shares during the period. Monument Capital Management purchased a new stake in Bank of Hawaii in the fourth quarter worth about $270,000. Finally, Congress Asset Management Co. grew its holdings in Bank of Hawaii by 108.6% in the fourth quarter. Congress Asset Management Co. now owns 127,500 shares of the bank’s stock worth $9,083,000 after purchasing an additional 66,366 shares during the period. 82.18% of the stock is owned by institutional investors.

Bank of Hawaii Price Performance

Bank of Hawaii stock opened at $69.72 on Friday. Bank of Hawaii Co. has a 12-month low of $54.50 and a 12-month high of $82.70. The firm has a 50-day moving average price of $71.87 and a 200-day moving average price of $70.62. The firm has a market capitalization of $2.77 billion, a PE ratio of 20.15 and a beta of 1.00. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.42.

Bank of Hawaii (NYSE:BOH) last announced its quarterly earnings data on Monday, January 27th. The bank reported $0.85 earnings per share for the quarter, missing analysts’ consensus estimates of $0.87 by ($0.02). Bank of Hawaii had a net margin of 14.47% and a return on equity of 11.81%. As a group, equities research analysts forecast that Bank of Hawaii Co. will post 3.97 EPS for the current year.

Bank of Hawaii Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Friday, February 28th will be given a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 4.02%. The ex-dividend date of this dividend is Friday, February 28th. Bank of Hawaii’s dividend payout ratio (DPR) is 80.92%.

Insider Buying and Selling at Bank of Hawaii

In other Bank of Hawaii news, insider Taryn L. Salmon sold 449 shares of Bank of Hawaii stock in a transaction that occurred on Thursday, January 30th. The shares were sold at an average price of $74.97, for a total transaction of $33,661.53. Following the completion of the sale, the insider now directly owns 9,880 shares in the company, valued at approximately $740,703.60. The trade was a 4.35 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CAO Patrick M. Mcguirk sold 2,000 shares of Bank of Hawaii stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $75.08, for a total transaction of $150,160.00. Following the sale, the chief accounting officer now owns 9,173 shares of the company’s stock, valued at approximately $688,708.84. The trade was a 17.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 2.11% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on BOH shares. Barclays increased their price objective on shares of Bank of Hawaii from $56.00 to $66.00 and gave the company an “underweight” rating in a research report on Thursday, December 5th. Stephens initiated coverage on shares of Bank of Hawaii in a research note on Wednesday, November 27th. They issued an “overweight” rating and a $90.00 price objective for the company. Keefe, Bruyette & Woods raised their target price on shares of Bank of Hawaii from $74.00 to $81.00 and gave the company a “market perform” rating in a research note on Wednesday, December 4th. Piper Sandler raised their target price on shares of Bank of Hawaii from $66.00 to $68.00 and gave the company an “underweight” rating in a research note on Tuesday, January 28th. Finally, DA Davidson increased their price objective on shares of Bank of Hawaii from $75.00 to $79.00 and gave the company a “neutral” rating in a research report on Tuesday, January 28th. Three analysts have rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $73.00.

About Bank of Hawaii

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.