Whittier Trust Co. Lowers Stock Position in Bank of Hawaii Co. (NYSE:BOH)

Whittier Trust Co. trimmed its holdings in shares of Bank of Hawaii Co. (NYSE:BOH) by 74.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 681 shares of the bank’s stock after selling 1,935 shares during the period. Whittier Trust Co.’s holdings in Bank of Hawaii were worth $49,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of BOH. Geode Capital Management LLC raised its position in Bank of Hawaii by 1.2% in the third quarter. Geode Capital Management LLC now owns 908,303 shares of the bank’s stock worth $57,025,000 after acquiring an additional 10,357 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Bank of Hawaii by 2.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,511,420 shares of the bank’s stock valued at $94,872,000 after purchasing an additional 35,187 shares in the last quarter. Principal Financial Group Inc. lifted its stake in shares of Bank of Hawaii by 2.9% in the fourth quarter. Principal Financial Group Inc. now owns 192,718 shares of the bank’s stock valued at $13,729,000 after purchasing an additional 5,451 shares during the period. Barclays PLC boosted its holdings in Bank of Hawaii by 91.2% during the third quarter. Barclays PLC now owns 93,504 shares of the bank’s stock worth $5,870,000 after buying an additional 44,599 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its position in Bank of Hawaii by 13.6% during the third quarter. JPMorgan Chase & Co. now owns 86,591 shares of the bank’s stock worth $5,435,000 after buying an additional 10,390 shares during the period. 82.18% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Bank of Hawaii news, insider Taryn L. Salmon sold 449 shares of the 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 transaction, the insider now owns 9,880 shares of the company’s stock, valued at $740,703.60. This trade represents a 4.35 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Patrick M. Mcguirk sold 2,000 shares of the business’s stock in a transaction 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 directly owns 9,173 shares of the company’s stock, valued at $688,708.84. This represents a 17.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.11% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

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

Bank of Hawaii Price Performance

NYSE:BOH opened at $70.15 on Tuesday. The firm has a market cap of $2.79 billion, a price-to-earnings ratio of 20.27 and a beta of 1.01. Bank of Hawaii Co. has a 12-month low of $54.50 and a 12-month high of $82.70. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.42. The company’s 50-day moving average is $71.42 and its two-hundred day moving average is $70.79.

Bank of Hawaii (NYSE:BOH) last announced its earnings results on Monday, January 27th. The bank reported $0.85 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.87 by ($0.02). Bank of Hawaii had a return on equity of 11.81% and a net margin of 14.47%. Research analysts expect 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 was paid on Friday, March 14th. Investors of record on Friday, February 28th were paid a $0.70 dividend. The ex-dividend date was Friday, February 28th. This represents a $2.80 annualized dividend and a yield of 3.99%. Bank of Hawaii’s payout ratio is currently 80.92%.

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.