Everence Capital Management Inc. Cuts Stock Position in Bank of Hawaii Co. (NYSE:BOH)

Everence Capital Management Inc. decreased its holdings in shares of Bank of Hawaii Co. (NYSE:BOH) by 34.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,580 shares of the bank’s stock after selling 1,850 shares during the period. Everence Capital Management Inc.’s holdings in Bank of Hawaii were worth $255,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Point72 Asia Singapore Pte. Ltd. purchased a new position in Bank of Hawaii during the second quarter valued at $106,000. Point72 DIFC Ltd purchased a new position in Bank of Hawaii in the 2nd quarter valued at about $119,000. UMB Bank n.a. boosted its holdings in Bank of Hawaii by 5,508.3% in the 3rd quarter. UMB Bank n.a. now owns 2,692 shares of the bank’s stock worth $169,000 after buying an additional 2,644 shares during the last quarter. Crestwood Advisors Group LLC purchased a new stake in Bank of Hawaii during the 3rd quarter worth approximately $207,000. Finally, Cadinha & Co. LLC acquired a new position in shares of Bank of Hawaii during the third quarter valued at approximately $218,000. Institutional investors and hedge funds own 82.18% of the company’s stock.

Bank of Hawaii Price Performance

Shares of BOH stock opened at $69.48 on Wednesday. The firm’s 50-day moving average is $74.88 and its two-hundred day moving average is $67.95. Bank of Hawaii Co. has a 12 month low of $54.50 and a 12 month 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 company has a market capitalization of $2.76 billion, a PE ratio of 20.86, a price-to-earnings-growth ratio of 4.86 and a beta of 1.05.

Bank of Hawaii (NYSE:BOH) last released its quarterly earnings data on Monday, October 28th. The bank reported $0.93 EPS for the quarter, beating analysts’ consensus estimates of $0.82 by $0.11. Bank of Hawaii had a return on equity of 11.33% and a net margin of 13.76%. The firm had revenue of $265.76 million for the quarter, compared to analysts’ expectations of $160.29 million. During the same period in the prior year, the firm posted $1.17 earnings per share. Analysts predict that Bank of Hawaii Co. will post 3.52 earnings per share for the current year.

Bank of Hawaii Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Friday, November 29th were issued a $0.70 dividend. The ex-dividend date of this dividend was Friday, November 29th. This represents a $2.80 annualized dividend and a yield of 4.03%. Bank of Hawaii’s dividend payout ratio (DPR) is currently 84.08%.

Insider Buying and Selling at Bank of Hawaii

In other news, insider Matthew Emerson sold 1,355 shares of the business’s stock in a transaction that occurred on Wednesday, October 30th. The shares were sold at an average price of $72.27, for a total value of $97,925.85. Following the sale, the insider now directly owns 13,717 shares of the company’s stock, valued at approximately $991,327.59. The trade was a 8.99 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 2.11% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

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

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.