Bank of Hawaii Co. (BOH) Vice Chairman James C. Polk Sells 6,176 Shares

Bank of Hawaii Co. (NYSE:BOH) Vice Chairman James C. Polk sold 6,176 shares of the stock in a transaction on Friday, May 10th. The shares were sold at an average price of $80.82, for a total value of $499,144.32. Following the completion of the sale, the insider now owns 31,291 shares of the company’s stock, valued at approximately $2,528,938.62. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

NYSE BOH opened at $80.61 on Wednesday. Bank of Hawaii Co. has a 1-year low of $63.64 and a 1-year high of $88.92. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.70 and a current ratio of 0.70. The firm has a market capitalization of $3.26 billion, a PE ratio of 15.41, a P/E/G ratio of 1.90 and a beta of 0.87.

Bank of Hawaii (NYSE:BOH) last posted its quarterly earnings results on Monday, April 22nd. The bank reported $1.43 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.36 by $0.07. Bank of Hawaii had a net margin of 30.64% and a return on equity of 17.81%. The business had revenue of $168.52 million for the quarter, compared to the consensus estimate of $166.51 million. During the same period in the prior year, the business posted $1.28 earnings per share. On average, sell-side analysts predict that Bank of Hawaii Co. will post 5.59 EPS for the current year.

Bank of Hawaii declared that its board has authorized a share buyback program on Monday, January 28th that authorizes the company to repurchase $130.00 million in outstanding shares. This repurchase authorization authorizes the bank to purchase up to 4.1% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s management believes its stock is undervalued.

The business also recently declared a quarterly dividend, which will be paid on Friday, June 14th. Stockholders of record on Friday, May 31st will be paid a $0.65 dividend. The ex-dividend date of this dividend is Thursday, May 30th. This is an increase from Bank of Hawaii’s previous quarterly dividend of $0.62. This represents a $2.60 dividend on an annualized basis and a dividend yield of 3.23%. Bank of Hawaii’s dividend payout ratio is 47.42%.

A number of analysts have recently issued reports on the company. Zacks Investment Research lowered Bank of Hawaii from a “buy” rating to a “hold” rating in a report on Monday, April 1st. ValuEngine upgraded Bank of Hawaii from a “sell” rating to a “hold” rating in a report on Thursday, January 24th. Finally, Compass Point lowered Bank of Hawaii from a “buy” rating to a “neutral” rating and reduced their target price for the company from $83.00 to $82.00 in a report on Monday, April 22nd. Two equities research analysts have rated the stock with a sell rating and four have given a hold rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $85.60.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Stifel Financial Corp grew its position in shares of Bank of Hawaii by 5.5% in the fourth quarter. Stifel Financial Corp now owns 50,412 shares of the bank’s stock valued at $3,406,000 after purchasing an additional 2,619 shares during the last quarter. Thrivent Financial for Lutherans grew its position in shares of Bank of Hawaii by 4.6% in the fourth quarter. Thrivent Financial for Lutherans now owns 10,669 shares of the bank’s stock valued at $718,000 after purchasing an additional 473 shares during the last quarter. Millennium Management LLC grew its position in shares of Bank of Hawaii by 1,239.0% in the fourth quarter. Millennium Management LLC now owns 66,238 shares of the bank’s stock valued at $4,459,000 after purchasing an additional 61,291 shares during the last quarter. First American Bank grew its position in shares of Bank of Hawaii by 5.9% in the fourth quarter. First American Bank now owns 40,041 shares of the bank’s stock valued at $2,696,000 after purchasing an additional 2,242 shares during the last quarter. Finally, FMR LLC grew its position in shares of Bank of Hawaii by 52,179.8% in the fourth quarter. FMR LLC now owns 337,205 shares of the bank’s stock valued at $22,700,000 after purchasing an additional 336,560 shares during the last quarter. 76.40% of the stock is currently owned by institutional investors and hedge funds.

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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 through four segments: Retail Banking, Commercial Banking, Investment Services and Private Banking, and Treasury and Other.

Further Reading: Beige Book

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