Texas Permanent School Fund Corp Reduces Stock Holdings in Bank of Hawaii Co. (NYSE:BOH)

Texas Permanent School Fund Corp trimmed its position in Bank of Hawaii Co. (NYSE:BOH) by 14.5% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 29,753 shares of the bank’s stock after selling 5,037 shares during the period. Texas Permanent School Fund Corp owned about 0.07% of Bank of Hawaii worth $1,702,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. TFO Wealth Partners LLC boosted its position in Bank of Hawaii by 9,660.0% in the fourth quarter. TFO Wealth Partners LLC now owns 488 shares of the bank’s stock worth $362,000 after purchasing an additional 483 shares during the last quarter. Quest Partners LLC purchased a new position in shares of Bank of Hawaii during the 4th quarter valued at about $41,000. Clearbridge Investments LLC purchased a new position in shares of Bank of Hawaii during the 4th quarter valued at about $217,000. Rothschild Investment LLC purchased a new position in shares of Bank of Hawaii during the 2nd quarter valued at about $172,000. Finally, Central Pacific Bank Trust Division bought a new position in shares of Bank of Hawaii in the first quarter worth approximately $244,000. 82.18% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on BOH shares. Keefe, Bruyette & Woods lifted their target price on shares of Bank of Hawaii from $58.00 to $60.00 and gave the company an “underperform” rating in a research note on Tuesday, July 23rd. 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 boosted their price target on Bank of Hawaii from $63.00 to $70.00 and gave the stock a “neutral” rating in a report on Monday, July 29th. Piper Sandler downgraded Bank of Hawaii from a “neutral” rating to an “underweight” rating and dropped their price target for the stock from $70.00 to $61.00 in a research note on Monday, August 12th. Finally, StockNews.com upgraded shares of Bank of Hawaii to a “sell” rating in a research report on Thursday, May 30th. Four equities research analysts have rated the stock with a sell rating and two have given a hold rating to the stock. According to MarketBeat, the stock has an average rating of “Reduce” and a consensus price target of $59.00.

Insider Buying and Selling

In other news, insider Taryn L. Salmon sold 2,364 shares of the business’s stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $67.80, for a total transaction of $160,279.20. Following the transaction, the insider now owns 10,785 shares of the company’s stock, valued at approximately $731,223. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 2.11% of the stock is currently owned by company insiders.

Bank of Hawaii Stock Performance

NYSE:BOH opened at $64.82 on Thursday. The company has a market cap of $2.57 billion, a price-to-earnings ratio of 16.71 and a beta of 1.05. Bank of Hawaii Co. has a 1 year low of $45.56 and a 1 year high of $75.19. The stock’s 50 day simple moving average is $65.38 and its two-hundred day simple moving average is $61.01. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.71 and a quick ratio of 0.71.

Bank of Hawaii (NYSE:BOH) last announced its quarterly 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 business had revenue of $255.62 million during the quarter, compared to the consensus estimate of $157.12 million. During the same quarter in the prior year, the firm posted $1.12 EPS. As a group, equities analysts anticipate that Bank of Hawaii Co. will post 3.45 earnings per share for the current fiscal year.

Bank of Hawaii Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Friday, August 30th were issued a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 4.32%. The ex-dividend date of this dividend was Friday, August 30th. Bank of Hawaii’s payout ratio is 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.