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

Point72 Asset Management L.P. trimmed its holdings in shares of Bank of Hawaii Co. (NYSE:BOH) by 95.6% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 3,382 shares of the bank’s stock after selling 72,618 shares during the period. Point72 Asset Management L.P.’s holdings in Bank of Hawaii were worth $212,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Glenmede Trust Co. NA raised its stake in Bank of Hawaii by 3.0% during the third quarter. Glenmede Trust Co. NA now owns 6,315 shares of the bank’s stock valued at $396,000 after buying an additional 182 shares during the last quarter. Arizona State Retirement System raised its position in shares of Bank of Hawaii by 1.9% in the 2nd quarter. Arizona State Retirement System now owns 11,134 shares of the bank’s stock worth $637,000 after purchasing an additional 210 shares during the last quarter. Louisiana State Employees Retirement System boosted its stake in Bank of Hawaii by 1.5% in the 2nd quarter. Louisiana State Employees Retirement System now owns 20,000 shares of the bank’s stock worth $1,144,000 after purchasing an additional 300 shares in the last quarter. Harrington Investments INC grew its position in Bank of Hawaii by 2.0% during the 2nd quarter. Harrington Investments INC now owns 19,706 shares of the bank’s stock valued at $1,127,000 after purchasing an additional 394 shares during the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. increased its stake in Bank of Hawaii by 29.0% during the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 2,387 shares of the bank’s stock valued at $150,000 after purchasing an additional 536 shares in the last quarter. 82.18% of the stock is owned by institutional investors.

Analyst Ratings Changes

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

Bank of Hawaii Price Performance

NYSE BOH opened at $74.68 on Friday. The stock has a market capitalization of $2.97 billion, a price-to-earnings ratio of 22.43, a PEG ratio of 4.95 and a beta of 1.03. Bank of Hawaii Co. has a 1-year low of $54.50 and a 1-year high of $82.70. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.71 and a quick ratio of 0.71. The business’s fifty day moving average price is $73.20 and its 200-day moving average price is $66.01.

Bank of Hawaii (NYSE:BOH) last announced 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 business had revenue of $265.76 million for the quarter, compared to analysts’ expectations 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 period last year, the firm posted $1.17 earnings per share. On average, equities analysts predict that Bank of Hawaii Co. will post 3.52 earnings per share for the current year.

Bank of Hawaii Announces Dividend

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

Insider Buying and Selling at Bank of Hawaii

In other Bank of Hawaii news, insider Matthew Emerson sold 1,355 shares of the business’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 completion of the sale, the insider now owns 13,717 shares of the company’s stock, valued at approximately $991,327.59. The trade was a 8.99 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 2.11% of the stock is owned by corporate insiders.

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.