Retirement Systems of Alabama downgraded its position in Bank of Hawaii Co. (New York Stock Exchange: BOH – get rating) by 9.2% in the first quarter, HoldingsChannel reports. The fund owned 141,315 shares of the bank after selling 14,389 shares during the quarter. Retirement Systems of Alabama’s holdings in Bank of Hawaii were worth $11,859,000 at the end of the most recent reporting period.
Other institutional investors have also recently changed their holdings in the company. Covestor Ltd purchased a new position in Bank of Hawaii stock in the fourth quarter worth approximately $34,000. CWM LLC purchased a new position in Bank of Hawaii stock in the fourth quarter worth approximately $37,000. Point72 Hong Kong Ltd purchased a new position in Bank of Hawaii stock in the fourth quarter worth approximately $46,000. Spire Wealth Management purchased a new position in Bank of Hawaii stock in the fourth quarter worth approximately $49,000. Finally, Pinebridge Investments LP purchased a new position in Bank of Hawaii stock during the fourth quarter worth approximately $117,000. Institutional investors and hedge funds own 71.07% of the company’s shares.
Separately, StockNews.com downgraded shares of Bank of Hawaii from a “hold” rating to a “sell” rating in a research report on Monday, May 23.
BOH opened at $75.86 on Monday. Bank of Hawaii Co. has a twelve month minimum of $70.97 and a twelve month maximum of $92.38. The company has a 50-day moving average price of $76.01 and a 200-day moving average price of $81.78. The company has a market capitalization of $3.06 billion, a PE ratio of 12.50, a price/earnings growth ratio of 1.70, and a beta of 1.13.
Bank of Hawaii (New York Stock Exchange: BOH – get rating) last published its quarterly earnings results on Monday, April 25. The bank reported earnings per share of $1.32 for the quarter, beating the consensus estimate of $1.22 by $0.10. Bank of Hawaii had a net margin of 35.44% and a return on equity of 17.99%. The company had revenue of $168.81 million during the quarter, compared to the consensus estimate of $169.30 million. During the same quarter of the previous year, the company earned $1.50 EPS. As a group, sell-side analysts expect Bank of Hawaii Co. to post earnings per share of 5.58 for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 14. Shareholders of record on Tuesday, May 31, received a dividend of $0.70. The ex-dividend date was Friday, May 27. This represents a dividend of $2.80 on an annualized basis and a yield of 3.69%. Bank of Hawaii’s payout ratio is 46.13%.
In other Bank of Hawaii news, CEO Peter S. Ho sold 5,500 shares of the capital stock in a transaction dated Tuesday, May 10. The shares were sold at an average price of $74.51, for a total value of $409,805.00. After completing the sale, the CEO now owns 244,681 shares in the company, valued at approximately $18,231,181.31. The transaction was disclosed in a legal filing with the SEC, which can be accessed via this hyperlink. Currently, 2.06% of the shares are owned by corporate insiders.
Bank of Hawaii Company Profile (get rating)
Bank of Hawaii Corporation operates as the bank holding company for Bank of Hawaii offering various financial products and services in Hawaii, Guam and other Pacific Islands. It operates in three segments: Consumer Banking, Commercial Banking and Treasury and Others. The Consumer Banking segment offers checking, savings and fixed-term accounts; residential mortgage loans, home equity lines of credit, auto loans and leases, personal lines of credit, installment loans, small business loans and leases, and credit cards; international and private client banking, investment, credit and trust services for individuals and families, and high net worth individuals; investment Management; institutional investment advisory services for corporations, government entities and foundations; and brokerage offerings, including stocks, mutual funds, life insurance and annuity products.
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