Bank of Hawaii Co. (NYSE:BOH) Shares Sold by Kayne Anderson Rudnick Investment Management LLC

Kayne Anderson Rudnick Investment Management LLC cut its holdings in Bank of Hawaii Co. (NYSE:BOH) by 2.4% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,918,380 shares of the bank’s stock after selling 48,088 shares during the period. Kayne Anderson Rudnick Investment Management LLC owned 4.83% of Bank of Hawaii worth $109,751,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Norges Bank purchased a new position in shares of Bank of Hawaii during the 4th quarter worth $29,508,000. Clearbridge Investments LLC purchased a new position in Bank of Hawaii during the fourth quarter worth about $217,000. Corient Private Wealth LLC increased its position in shares of Bank of Hawaii by 56.0% during the fourth quarter. Corient Private Wealth LLC now owns 27,896 shares of the bank’s stock valued at $2,021,000 after acquiring an additional 10,009 shares during the last quarter. Quest Partners LLC purchased a new stake in shares of Bank of Hawaii in the 4th quarter valued at approximately $41,000. Finally, TFO Wealth Partners LLC lifted its holdings in shares of Bank of Hawaii by 9,660.0% in the 4th quarter. TFO Wealth Partners LLC now owns 488 shares of the bank’s stock worth $362,000 after acquiring an additional 483 shares during the last quarter. 82.18% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, insider Taryn L. Salmon sold 2,364 shares of the stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $67.80, for a total value of $160,279.20. Following the transaction, the insider now owns 10,785 shares in the company, valued at approximately $731,223. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 2.11% of the company’s stock.

Bank of Hawaii Price Performance

Shares of NYSE BOH opened at $63.93 on Friday. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.71 and a quick ratio of 0.71. The company has a market cap of $2.54 billion, a price-to-earnings ratio of 16.48 and a beta of 1.05. The stock’s 50-day moving average is $65.70 and its two-hundred day moving average is $61.10. Bank of Hawaii Co. has a 1-year low of $45.56 and a 1-year high of $75.19.

Bank of Hawaii (NYSE:BOH) last issued its 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 net margin of 14.54% and a return on equity of 12.25%. The firm had revenue of $255.62 million during the quarter, compared to analyst estimates of $157.12 million. During the same period last year, the business earned $1.12 EPS. Analysts forecast that Bank of Hawaii Co. will post 3.45 EPS for the current fiscal year.

Bank of Hawaii Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Friday, August 30th were given a dividend of $0.70 per share. The ex-dividend date of this dividend was Friday, August 30th. This represents a $2.80 annualized dividend and a dividend yield of 4.38%. Bank of Hawaii’s dividend payout ratio (DPR) is currently 72.16%.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on BOH. 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 report 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 note on Wednesday, July 3rd. StockNews.com raised Bank of Hawaii to a “sell” rating in a research report on Thursday, May 30th. Piper Sandler lowered shares of Bank of Hawaii from a “neutral” rating to an “underweight” rating and cut their price target for the stock from $70.00 to $61.00 in a research note on Monday, August 12th. Finally, DA Davidson raised their price objective on shares of Bank of Hawaii from $63.00 to $70.00 and gave the company a “neutral” rating in a research note on Monday, July 29th. Four investment analysts have rated the stock with a sell rating and two have assigned a hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Reduce” and an average target price of $59.00.

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.