New York State Teachers Retirement System Decreases Stake in Bank of Hawaii Co. (NYSE:BOH)

New York State Teachers Retirement System lowered its stake in Bank of Hawaii Co. (NYSE:BOH) by 9.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 72,164 shares of the bank’s stock after selling 7,917 shares during the period. New York State Teachers Retirement System owned 0.18% of Bank of Hawaii worth $5,229,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. BlackRock Inc. raised its holdings in shares of Bank of Hawaii by 38.3% in the second quarter. BlackRock Inc. now owns 5,222,846 shares of the bank’s stock worth $215,338,000 after buying an additional 1,445,598 shares during the last quarter. Vanguard Group Inc. raised its holdings in shares of Bank of Hawaii by 1.3% during the third quarter. Vanguard Group Inc. now owns 3,977,581 shares of the bank’s stock worth $302,774,000 after purchasing an additional 49,163 shares during the last quarter. State Street Corp raised its holdings in shares of Bank of Hawaii by 101.2% during the second quarter. State Street Corp now owns 3,094,213 shares of the bank’s stock worth $127,574,000 after purchasing an additional 1,556,146 shares during the last quarter. Victory Capital Management Inc. raised its holdings in shares of Bank of Hawaii by 28.6% during the third quarter. Victory Capital Management Inc. now owns 2,652,216 shares of the bank’s stock worth $131,789,000 after purchasing an additional 590,492 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of Bank of Hawaii by 3.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,118,092 shares of the bank’s stock worth $55,558,000 after purchasing an additional 39,512 shares during the last quarter. Hedge funds and other institutional investors own 82.18% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on BOH shares. StockNews.com raised shares of Bank of Hawaii to a “sell” rating in a report on Thursday, January 25th. Piper Sandler cut their price objective on shares of Bank of Hawaii from $70.00 to $69.00 and set a “neutral” rating for the company in a report on Tuesday, January 23rd. Keefe, Bruyette & Woods cut their price objective on shares of Bank of Hawaii from $57.00 to $55.00 and set an “underperform” rating for the company in a report on Tuesday, January 23rd. Jefferies Financial Group cut their price objective on shares of Bank of Hawaii from $67.00 to $62.00 and set a “hold” rating for the company in a report on Monday, April 8th. Finally, Barclays began coverage on shares of Bank of Hawaii in a report on Friday, March 8th. They issued an “underweight” rating and a $51.00 price objective for the company. Four analysts have rated the stock with a sell rating and two have issued a hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Reduce” and an average target price of $53.60.

Bank of Hawaii Stock Down 0.5 %

BOH stock opened at $58.28 on Friday. The stock has a market capitalization of $2.32 billion, a P/E ratio of 14.04, a P/E/G ratio of 1.96 and a beta of 1.06. The firm has a 50-day simple moving average of $60.88 and a 200-day simple moving average of $60.26. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.45. Bank of Hawaii Co. has a 52 week low of $30.83 and a 52 week high of $75.19.

Bank of Hawaii (NYSE:BOH) last released its earnings results on Monday, January 22nd. The bank reported $1.01 EPS for the quarter, topping analysts’ consensus estimates of $1.00 by $0.01. The business had revenue of $252.63 million during the quarter, compared to analysts’ expectations of $161.03 million. Bank of Hawaii had a net margin of 17.35% and a return on equity of 14.35%. During the same quarter in the previous year, the company earned $1.50 earnings per share. Equities analysts forecast that Bank of Hawaii Co. will post 3.72 earnings per share for the current fiscal year.

Bank of Hawaii Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, March 14th. Stockholders of record on Thursday, February 29th were paid a dividend of $0.70 per share. The ex-dividend date was Wednesday, February 28th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 4.80%. Bank of Hawaii’s dividend payout ratio is currently 67.47%.

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.