SG Americas Securities LLC Sells 2,478 Shares of Bank of Hawaii Co. (NYSE:BOH)

SG Americas Securities LLC cut its holdings in shares of Bank of Hawaii Co. (NYSE:BOH) by 25.4% during the fourth quarter, HoldingsChannel.com reports. The firm owned 7,259 shares of the bank’s stock after selling 2,478 shares during the period. SG Americas Securities LLC’s holdings in Bank of Hawaii were worth $517,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Bank of Hawaii during the second quarter valued at $106,000. UMB Bank n.a. raised its stake in shares of Bank of Hawaii by 5,508.3% during the 3rd quarter. UMB Bank n.a. now owns 2,692 shares of the bank’s stock valued at $169,000 after buying an additional 2,644 shares during the last quarter. Crestwood Advisors Group LLC acquired a new position in shares of Bank of Hawaii in the 3rd quarter valued at about $207,000. Cadinha & Co. LLC acquired a new stake in Bank of Hawaii during the third quarter worth about $218,000. Finally, Nwam LLC purchased a new position in Bank of Hawaii during the third quarter valued at approximately $228,000. 82.18% of the stock is currently owned by hedge funds and other institutional investors.

Bank of Hawaii Price Performance

Shares of NYSE BOH opened at $74.52 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. The firm has a market cap of $2.96 billion, a PE ratio of 21.54 and a beta of 1.05. Bank of Hawaii Co. has a one year low of $54.50 and a one year high of $82.70. The firm has a fifty day moving average of $73.08 and a 200 day moving average of $69.54.

Bank of Hawaii (NYSE:BOH) last released its earnings results on Monday, January 27th. The bank reported $0.85 EPS for the quarter, missing analysts’ consensus estimates of $0.87 by ($0.02). Bank of Hawaii had a return on equity of 11.81% and a net margin of 14.47%. As a group, research analysts predict that Bank of Hawaii Co. will post 3.77 EPS for the current fiscal year.

Bank of Hawaii Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Friday, February 28th will be issued a dividend of $0.70 per share. The ex-dividend date of this dividend is Friday, February 28th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.76%. Bank of Hawaii’s payout ratio is currently 80.92%.

Analyst Ratings Changes

Several research firms have commented on BOH. DA Davidson upped their price objective on Bank of Hawaii from $75.00 to $79.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 28th. Stephens assumed coverage on shares of Bank of Hawaii in a report on Wednesday, November 27th. They set an “overweight” rating and a $90.00 price target on the stock. Piper Sandler lifted their price objective on shares of Bank of Hawaii from $66.00 to $68.00 and gave the company an “underweight” rating in a report on Tuesday, January 28th. Keefe, Bruyette & Woods upped their price objective on shares of Bank of Hawaii from $74.00 to $81.00 and gave the stock a “market perform” rating in a research report on Wednesday, December 4th. Finally, Barclays raised their target price on Bank of Hawaii from $56.00 to $66.00 and gave the company an “underweight” rating in a research report on Thursday, December 5th. Three analysts have rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $73.00.

Insider Activity

In related news, insider Taryn L. Salmon sold 449 shares of the company’s stock in a transaction dated Thursday, January 30th. The shares were sold at an average price of $74.97, for a total transaction of $33,661.53. Following the completion of the sale, the insider now owns 9,880 shares of the company’s stock, valued at approximately $740,703.60. This represents a 4.35 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 2.11% of the company’s stock.

Bank of Hawaii 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.