First Hawaiian Bank cut its position in Bank of Hawaii Co. (NYSE:BOH) by 0.2% during the first quarter, Holdings Channel reports. The institutional investor owned 150,879 shares of the bank’s stock after selling 246 shares during the period. Bank of Hawaii makes up approximately 1.8% of First Hawaiian Bank’s portfolio, making the stock its 12th largest position. First Hawaiian Bank owned approximately 0.35% of Bank of Hawaii worth $12,426,000 at the end of the most recent quarter.
A number of other institutional investors have also made changes to their positions in the company. Tower Research Capital LLC TRC raised its position in shares of Bank of Hawaii by 38.3% in the third quarter. Tower Research Capital LLC TRC now owns 1,492 shares of the bank’s stock worth $109,000 after buying an additional 413 shares in the last quarter. Creative Planning raised its position in shares of Bank of Hawaii by 1,057.8% in the third quarter. Creative Planning now owns 1,563 shares of the bank’s stock worth $114,000 after buying an additional 1,428 shares in the last quarter. United Capital Financial Advisers LLC acquired a new position in shares of Bank of Hawaii during the fourth quarter worth $208,000. LS Investment Advisors LLC raised its position in shares of Bank of Hawaii by 21.6% in the third quarter. LS Investment Advisors LLC now owns 3,135 shares of the bank’s stock worth $228,000 after buying an additional 556 shares in the last quarter. Finally, Pacer Advisors Inc. raised its position in shares of Bank of Hawaii by 9.0% in the third quarter. Pacer Advisors Inc. now owns 3,760 shares of the bank’s stock worth $273,000 after buying an additional 312 shares in the last quarter. Institutional investors and hedge funds own 78.03% of the company’s stock.
Shares of Bank of Hawaii Co. (NYSE:BOH) traded up 1.53% during trading on Thursday, hitting $80.96. The stock had a trading volume of 173,486 shares. The stock has a 50 day moving average of $81.87 and a 200 day moving average of $82.78. Bank of Hawaii Co. has a 12 month low of $64.96 and a 12 month high of $90.80. The company has a market cap of $3.45 billion, a PE ratio of 19.14 and a beta of 0.92.
Bank of Hawaii (NYSE:BOH) last released its earnings results on Monday, January 23rd. The bank reported $1.02 EPS for the quarter, meeting analysts’ consensus estimates of $1.02. The firm had revenue of $153.60 million for the quarter, compared to analysts’ expectations of $154.17 million. Bank of Hawaii had a return on equity of 15.71% and a net margin of 27.69%. During the same quarter in the prior year, the firm posted $0.99 earnings per share. Equities analysts forecast that Bank of Hawaii Co. will post $4.32 EPS for the current fiscal year.
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Separately, Zacks Investment Research upgraded Bank of Hawaii from a “hold” rating to a “buy” rating and set a $89.00 price objective on the stock in a research report on Tuesday, March 28th. One investment analyst has rated the stock with a sell rating and six have issued a hold rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $74.43.
In other news, Vice Chairman Mark Alan Rossi sold 30,000 shares of the company’s stock in a transaction that occurred on Thursday, January 26th. The stock was sold at an average price of $88.29, for a total transaction of $2,648,700.00. Following the transaction, the insider now owns 66,346 shares of the company’s stock, valued at $5,857,688.34. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Mary E. Sellers sold 12,964 shares of the company’s stock in a transaction that occurred on Tuesday, March 7th. The shares were sold at an average price of $84.51, for a total value of $1,095,587.64. Following the transaction, the insider now directly owns 62,485 shares in the company, valued at approximately $5,280,607.35. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 104,995 shares of company stock worth $9,074,658. Insiders own 2.52% of the company’s stock.
About Bank of Hawaii
Bank of Hawaii Corporation is a bank holding company that operates through its subsidiary, Bank of Hawaii (the Bank). The Bank provides a range of financial products and services primarily to customers in Hawaii, Guam and other Pacific Islands. It operates in four segments: Retail Banking, Commercial Banking, Investment Services, and Treasury and Other.
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