Virtu Financial LLC Reduces Position in Bank of Hawaii Co. (NYSE:BOH)

Virtu Financial LLC reduced its holdings in Bank of Hawaii Co. (NYSE:BOH) by 45.1% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,281 shares of the bank’s stock after selling 3,514 shares during the period. Virtu Financial LLC’s holdings in Bank of Hawaii were worth $269,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Victory Capital Management Inc. lifted its stake in Bank of Hawaii by 13.1% in the 2nd quarter. Victory Capital Management Inc. now owns 1,634,909 shares of the bank’s stock worth $93,533,000 after purchasing an additional 189,878 shares in the last quarter. International Assets Investment Management LLC acquired a new stake in shares of Bank of Hawaii in the third quarter valued at approximately $70,960,000. State Street Corp lifted its position in Bank of Hawaii by 5.0% during the third quarter. State Street Corp now owns 2,244,649 shares of the bank’s stock worth $140,897,000 after buying an additional 106,717 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in Bank of Hawaii by 14.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 789,486 shares of the bank’s stock valued at $45,167,000 after buying an additional 98,465 shares in the last quarter. Finally, American Century Companies Inc. increased its stake in shares of Bank of Hawaii by 8.7% in the 2nd quarter. American Century Companies Inc. now owns 675,615 shares of the bank’s stock worth $38,652,000 after acquiring an additional 54,078 shares during the last quarter. 82.18% of the stock is currently owned by institutional investors and hedge funds.

Bank of Hawaii Stock Down 1.6 %

Shares of NYSE BOH opened at $73.06 on Wednesday. Bank of Hawaii Co. has a 52-week low of $54.50 and a 52-week high of $82.70. The business’s 50 day moving average is $73.84 and its two-hundred day moving average is $66.49. The firm has a market cap of $2.90 billion, a price-to-earnings ratio of 21.94, a PEG ratio of 4.86 and a beta of 1.03. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.42.

Bank of Hawaii (NYSE:BOH) last posted its earnings results on Monday, October 28th. The bank reported $0.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.82 by $0.11. The firm had revenue of $265.76 million for the quarter, compared to analyst estimates of $160.29 million. Bank of Hawaii had a return on equity of 11.33% and a net margin of 13.76%. During the same quarter in the prior year, the company earned $1.17 EPS. Research analysts predict that Bank of Hawaii Co. will post 3.52 EPS for the current year.

Bank of Hawaii Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Friday, November 29th were issued a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.83%. The ex-dividend date of this dividend was Friday, November 29th. Bank of Hawaii’s dividend payout ratio (DPR) is currently 84.08%.

Insider Buying and Selling

In other Bank of Hawaii news, insider Matthew Emerson sold 1,355 shares of the company’s stock in a transaction dated Wednesday, October 30th. The stock was sold at an average price of $72.27, for a total transaction of $97,925.85. Following the sale, the insider now owns 13,717 shares in the company, valued at $991,327.59. This represents a 8.99 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 2.47% of the stock is owned by insiders.

Analysts Set New Price Targets

Several brokerages have recently weighed in on BOH. Stephens initiated coverage on shares of Bank of Hawaii in a research report on Wednesday, November 27th. They set an “overweight” rating and a $90.00 price target on the stock. Keefe, Bruyette & Woods increased their price target on shares of Bank of Hawaii from $74.00 to $81.00 and gave the company a “market perform” rating in a research note on Wednesday, December 4th. Barclays raised their price target on shares of Bank of Hawaii from $56.00 to $66.00 and gave the stock an “underweight” rating in a report on Thursday, December 5th. DA Davidson upped their price objective on Bank of Hawaii from $65.00 to $74.00 and gave the company a “neutral” rating in a report on Tuesday, October 29th. Finally, Piper Sandler raised their target price on Bank of Hawaii from $61.00 to $66.00 and gave the stock an “underweight” rating in a research note on Tuesday, October 29th. Three research analysts have rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $71.83.

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.