J.W. Cole Advisors Inc. Sells 969 Shares of Bank of Hawaii Co. (NYSE:BOH)

J.W. Cole Advisors Inc. cut its position in shares of Bank of Hawaii Co. (NYSE:BOH) by 12.1% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 7,039 shares of the bank’s stock after selling 969 shares during the quarter. J.W. Cole Advisors Inc.’s holdings in Bank of Hawaii were worth $403,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Swedbank AB bought a new position in shares of Bank of Hawaii during the 1st quarter worth approximately $43,673,000. Norges Bank purchased a new position in Bank of Hawaii in the fourth quarter worth $29,508,000. Goldman Sachs Group Inc. grew its stake in Bank of Hawaii by 105.6% in the 4th quarter. Goldman Sachs Group Inc. now owns 451,528 shares of the bank’s stock valued at $32,718,000 after purchasing an additional 231,909 shares during the period. Victory Capital Management Inc. increased its position in shares of Bank of Hawaii by 13.1% during the 2nd quarter. Victory Capital Management Inc. now owns 1,634,909 shares of the bank’s stock valued at $93,533,000 after purchasing an additional 189,878 shares during the last quarter. Finally, Epoch Investment Partners Inc. raised its stake in shares of Bank of Hawaii by 72.8% during the 4th quarter. Epoch Investment Partners Inc. now owns 222,730 shares of the bank’s stock worth $16,139,000 after purchasing an additional 93,850 shares during the period. 82.18% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, insider Taryn L. Salmon sold 2,364 shares of the business’s stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $67.80, for a total transaction of $160,279.20. Following the completion of the transaction, the insider now owns 10,785 shares of the company’s stock, valued at $731,223. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 2.11% of the company’s stock.

Bank of Hawaii Trading Up 0.6 %

Shares of Bank of Hawaii stock opened at $64.90 on Wednesday. The company’s 50-day moving average price is $65.22 and its 200-day moving average price is $60.98. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.44. Bank of Hawaii Co. has a 12-month low of $45.56 and a 12-month high of $75.19. The company has a market cap of $2.58 billion, a price-to-earnings ratio of 16.73 and a beta of 1.05.

Bank of Hawaii (NYSE:BOH) last posted its earnings results on Monday, July 22nd. The bank reported $0.81 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.85 by ($0.04). The firm had revenue of $255.62 million during the quarter, compared to analysts’ expectations of $157.12 million. Bank of Hawaii had a return on equity of 12.25% and a net margin of 14.54%. During the same quarter in the prior year, the company earned $1.12 earnings per share. On average, equities analysts expect that Bank of Hawaii Co. will post 3.45 earnings per share for the current fiscal year.

Bank of Hawaii Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Friday, August 30th were given a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 4.31%. The ex-dividend date of this dividend was Friday, August 30th. Bank of Hawaii’s payout ratio is 72.16%.

Wall Street Analysts Forecast Growth

BOH has been the subject of a number of research analyst reports. Piper Sandler downgraded shares of Bank of Hawaii from a “neutral” rating to an “underweight” rating and decreased their price objective for the stock from $70.00 to $61.00 in a report on Monday, August 12th. StockNews.com raised shares of Bank of Hawaii to a “sell” rating in a research report on Thursday, May 30th. Jefferies Financial Group lifted their price target on shares of Bank of Hawaii from $53.00 to $54.00 and gave the stock a “hold” rating in a report on Wednesday, July 3rd. DA Davidson upped their price objective on Bank of Hawaii from $63.00 to $70.00 and gave the company a “neutral” rating in a research note on Monday, July 29th. Finally, Keefe, Bruyette & Woods raised their target price on Bank of Hawaii from $58.00 to $60.00 and gave the stock an “underperform” rating in a research report on Tuesday, July 23rd. Four investment analysts have rated the stock with a sell rating and two have given a hold rating to the stock. According to data from MarketBeat.com, the stock presently 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.