Probity Advisors Inc. Trims Holdings in Bank of Hawaii Co. (NYSE:BOH)

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Probity Advisors Inc. trimmed its position in Bank of Hawaii Co. (NYSE:BOH) by 25.5% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,474 shares of the bank’s stock after selling 1,528 shares during the period. Probity Advisors Inc.’s holdings in Bank of Hawaii were worth $226,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the business. First Trust Advisors LP lifted its stake in Bank of Hawaii by 36.8% during the third quarter. First Trust Advisors LP now owns 1,145,644 shares of the bank’s stock worth $57,878,000 after purchasing an additional 308,016 shares during the last quarter. Neuberger Berman Group LLC lifted its stake in Bank of Hawaii by 12.7% during the second quarter. Neuberger Berman Group LLC now owns 2,621,961 shares of the bank’s stock worth $160,818,000 after purchasing an additional 294,909 shares during the last quarter. Bessemer Group Inc. lifted its stake in Bank of Hawaii by 184.0% during the second quarter. Bessemer Group Inc. now owns 239,010 shares of the bank’s stock worth $14,678,000 after purchasing an additional 154,838 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Bank of Hawaii by 26.7% in the second quarter. Charles Schwab Investment Management Inc. now owns 551,947 shares of the bank’s stock valued at $33,896,000 after buying an additional 116,344 shares during the last quarter. Finally, Kayne Anderson Rudnick Investment Management LLC lifted its stake in Bank of Hawaii by 6.7% in the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,288,600 shares of the bank’s stock valued at $78,323,000 after buying an additional 80,912 shares during the last quarter. Institutional investors own 74.03% of the company’s stock.

BOH has been the topic of a number of recent research reports. Zacks Investment Research upgraded Bank of Hawaii from a “sell” rating to a “hold” rating and set a $60.00 target price on the stock in a research note on Friday, July 31st. Piper Sandler cut their target price on Bank of Hawaii from $61.00 to $54.00 and set a “neutral” rating on the stock in a research note on Thursday, October 1st. Finally, ValuEngine upgraded Bank of Hawaii from a “sell” rating to a “hold” rating in a research note on Tuesday, November 10th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $66.50.

In other news, Director Victor K. Nichols bought 4,475 shares of the stock in a transaction that occurred on Friday, August 21st. The shares were purchased at an average cost of $55.66 per share, with a total value of $249,078.50. Following the completion of the acquisition, the director now directly owns 10,055 shares in the company, valued at $559,661.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director John C. Erickson bought 1,000 shares of the stock in a transaction that occurred on Thursday, September 10th. The shares were purchased at an average cost of $51.96 per share, for a total transaction of $51,960.00. Following the completion of the acquisition, the director now owns 5,450 shares of the company’s stock, valued at $283,182. The disclosure for this purchase can be found here. Over the last 90 days, insiders have purchased 6,950 shares of company stock worth $386,987. Company insiders own 2.14% of the company’s stock.

Shares of NYSE BOH traded down $1.47 during midday trading on Tuesday, reaching $73.82. 1,322 shares of the company traded hands, compared to its average volume of 284,680. Bank of Hawaii Co. has a 52 week low of $46.70 and a 52 week high of $95.68. The stock has a 50-day moving average price of $58.72 and a 200 day moving average price of $58.95. The company has a debt-to-equity ratio of 0.04, a current ratio of 0.69 and a quick ratio of 0.69. The company has a market cap of $3.02 billion, a price-to-earnings ratio of 17.72, a PEG ratio of 2.33 and a beta of 1.17.

Bank of Hawaii (NYSE:BOH) last issued its quarterly earnings data on Saturday, October 31st. The bank reported $0.95 earnings per share for the quarter, beating analysts’ consensus estimates of $0.84 by $0.11. Bank of Hawaii had a net margin of 22.62% and a return on equity of 12.73%. During the same quarter in the previous year, the company earned $1.29 EPS. As a group, analysts expect that Bank of Hawaii Co. will post 3.84 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 14th. Investors of record on Monday, November 30th will be paid a dividend of $0.67 per share. This represents a $2.68 dividend on an annualized basis and a dividend yield of 3.63%. The ex-dividend date is Friday, November 27th. Bank of Hawaii’s dividend payout ratio is currently 48.20%.

Bank of Hawaii Company Profile

Bank of Hawaii Corporation operates as the bank holding company for Bank of Hawaii that provides financial products and services in Hawaii, Guam, and other Pacific Islands. It operates in four segments: Retail Banking, Commercial Banking, Investment Services and Private Banking, and Treasury and Other.

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Institutional Ownership by Quarter for Bank of Hawaii (NYSE:BOH)

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