Quantbot Technologies LP Decreases Position in Bank of Hawaii Co. (NYSE:BOH)

Quantbot Technologies LP lowered its stake in shares of Bank of Hawaii Co. (NYSE:BOH) by 75.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,959 shares of the bank’s stock after selling 15,174 shares during the quarter. Quantbot Technologies LP’s holdings in Bank of Hawaii were worth $353,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of BOH. State Street Corp increased its holdings in Bank of Hawaii by 5.0% during the 3rd quarter. State Street Corp now owns 2,244,649 shares of the bank’s stock worth $140,897,000 after purchasing an additional 106,717 shares during the period. Charles Schwab Investment Management Inc. grew its position in shares of Bank of Hawaii by 4.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,571,512 shares of the bank’s stock worth $111,955,000 after buying an additional 60,092 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of Bank of Hawaii by 1.2% during the third quarter. Geode Capital Management LLC now owns 908,303 shares of the bank’s stock worth $57,025,000 after buying an additional 10,357 shares during the period. Principal Financial Group Inc. increased its stake 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 worth $13,729,000 after buying an additional 5,451 shares during the period. Finally, Congress Asset Management Co. raised 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 valued at $9,083,000 after acquiring an additional 66,366 shares in the last quarter. 82.18% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have commented on BOH shares. DA Davidson boosted their price target on shares of Bank of Hawaii from $75.00 to $79.00 and gave the stock a “neutral” rating in a report on Tuesday, January 28th. Piper Sandler boosted their target price on shares of Bank of Hawaii from $66.00 to $68.00 and gave the stock an “underweight” rating in a research note on Tuesday, January 28th. Barclays raised their price target on Bank of Hawaii from $56.00 to $66.00 and gave the company an “underweight” rating in a research note on Thursday, December 5th. Finally, Keefe, Bruyette & Woods upped their price objective 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. Three equities 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 company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $73.00.

Bank of Hawaii Price Performance

Shares of BOH opened at $68.60 on Friday. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.71 and a quick ratio of 0.71. Bank of Hawaii Co. has a 1-year low of $54.50 and a 1-year high of $82.70. The stock has a market cap of $2.73 billion, a PE ratio of 19.83 and a beta of 1.01. The firm has a fifty day moving average price of $71.32 and a 200 day moving average price of $70.86.

Bank of Hawaii (NYSE:BOH) last posted its earnings results on Monday, January 27th. The bank reported $0.85 earnings per share for the quarter, missing the consensus estimate 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, sell-side analysts anticipate that Bank of Hawaii Co. will post 3.97 EPS for the current year.

Bank of Hawaii Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 28th were given a dividend of $0.70 per share. The ex-dividend date was Friday, February 28th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 4.08%. Bank of Hawaii’s dividend payout ratio (DPR) is presently 80.92%.

Insider Activity at Bank of Hawaii

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

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.