Point72 Asset Management L.P. Lowers Holdings in Bank of Hawaii Co. (NYSE:BOH)

Point72 Asset Management L.P. lowered its position in Bank of Hawaii Co. (NYSE:BOH) by 95.6% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 3,382 shares of the bank’s stock after selling 72,618 shares during the quarter. Point72 Asset Management L.P.’s holdings in Bank of Hawaii were worth $212,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in BOH. Victory Capital Management Inc. increased 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 acquiring an additional 189,878 shares during the last quarter. International Assets Investment Management LLC purchased a new stake in Bank of Hawaii in the third quarter valued at approximately $70,960,000. Dimensional Fund Advisors LP lifted its position in Bank of Hawaii by 14.2% during the second quarter. Dimensional Fund Advisors LP now owns 789,486 shares of the bank’s stock valued at $45,167,000 after purchasing an additional 98,465 shares during the last quarter. American Century Companies Inc. grew its stake in 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 buying an additional 54,078 shares in the last quarter. Finally, Squarepoint Ops LLC bought a new position in shares of Bank of Hawaii in the 2nd quarter worth $2,230,000. Hedge funds and other institutional investors own 82.18% of the company’s stock.

Insiders Place Their Bets

In related news, insider Matthew Emerson sold 1,355 shares of the company’s stock in a transaction that occurred on Wednesday, October 30th. The stock was sold at an average price of $72.27, for a total transaction of $97,925.85. Following the completion of the transaction, the insider now owns 13,717 shares in the company, valued at $991,327.59. This represents a 8.99 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 2.11% of the company’s stock.

Bank of Hawaii Stock Performance

NYSE:BOH opened at $74.68 on Friday. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.71 and a current ratio of 0.71. Bank of Hawaii Co. has a fifty-two week low of $54.50 and a fifty-two week high of $82.70. The business has a 50 day moving average price of $73.20 and a 200-day moving average price of $66.01. The firm has a market cap of $2.97 billion, a PE ratio of 22.43, a price-to-earnings-growth ratio of 4.95 and a beta of 1.03.

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

Bank of Hawaii Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 29th will be given a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 3.75%. The ex-dividend date of this dividend is Friday, November 29th. Bank of Hawaii’s payout ratio is 84.08%.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on BOH shares. Piper Sandler upped their target price on shares of Bank of Hawaii from $61.00 to $66.00 and gave the stock an “underweight” rating in a research report on Tuesday, October 29th. Keefe, Bruyette & Woods increased their price objective on Bank of Hawaii from $74.00 to $81.00 and gave the company a “market perform” rating in a research report on Wednesday, December 4th. DA Davidson boosted their target price on Bank of Hawaii from $65.00 to $74.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 29th. Stephens assumed 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. Finally, Barclays boosted their price objective 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. Three investment analysts have rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target 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.