North Reef Capital Management LP Cuts Stock Holdings in Bank of Hawaii Co. (NYSE:BOH)

North Reef Capital Management LP lowered its holdings in Bank of Hawaii Co. (NYSE:BOH) by 51.3% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 275,000 shares of the bank’s stock after selling 289,980 shares during the quarter. Bank of Hawaii makes up 0.9% of North Reef Capital Management LP’s portfolio, making the stock its 24th biggest position. North Reef Capital Management LP owned 0.69% of Bank of Hawaii worth $19,591,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of BOH. Swiss National Bank lifted its holdings in Bank of Hawaii by 0.8% during the fourth quarter. Swiss National Bank now owns 78,137 shares of the bank’s stock worth $5,566,000 after buying an additional 600 shares during the period. JPMorgan Chase & Co. raised its position in shares of Bank of Hawaii by 188.8% in the 4th quarter. JPMorgan Chase & Co. now owns 250,094 shares of the bank’s stock worth $17,817,000 after acquiring an additional 163,503 shares in the last quarter. Principal Financial Group Inc. boosted its position in Bank of Hawaii by 2.9% during the fourth quarter. Principal Financial Group Inc. now owns 192,718 shares of the bank’s stock valued at $13,729,000 after purchasing an additional 5,451 shares in the last quarter. Barclays PLC boosted its position in Bank of Hawaii by 91.2% during the third quarter. Barclays PLC now owns 93,504 shares of the bank’s stock valued at $5,870,000 after purchasing an additional 44,599 shares in the last quarter. Finally, Norges Bank purchased a new position in Bank of Hawaii in the fourth quarter valued at about $27,495,000. Hedge funds and other institutional investors own 82.18% of the company’s stock.

Bank of Hawaii Stock Down 0.4 %

NYSE:BOH opened at $66.33 on Friday. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.42. Bank of Hawaii Co. has a twelve month low of $54.50 and a twelve month high of $82.70. The company has a market cap of $2.64 billion, a PE ratio of 19.17 and a beta of 0.87. The company’s 50 day moving average is $67.38 and its two-hundred day moving average is $70.91.

Bank of Hawaii (NYSE:BOH) last announced its quarterly earnings data on Monday, April 21st. The bank reported $0.97 earnings per share for the quarter, beating analysts’ consensus estimates of $0.89 by $0.08. The firm had revenue of $169.87 million for the quarter, compared to analyst estimates of $168.65 million. Bank of Hawaii had a net margin of 14.47% and a return on equity of 11.81%. During the same period in the previous year, the company earned $0.87 earnings per share. Analysts anticipate that Bank of Hawaii Co. will post 3.97 EPS for the current year.

Bank of Hawaii Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 13th. Shareholders of record on Friday, May 30th will be paid a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 4.22%. The ex-dividend date of this dividend is Friday, May 30th. Bank of Hawaii’s payout ratio is 78.65%.

Analyst Ratings Changes

A number of research firms have recently weighed in on BOH. DA Davidson raised their price target on shares of Bank of Hawaii from $75.00 to $79.00 and gave the company a “neutral” rating in a report on Tuesday, January 28th. Piper Sandler raised their target price on shares of Bank of Hawaii from $66.00 to $68.00 and gave the company an “underweight” rating in a research note on Tuesday, January 28th. Finally, Barclays upped their price target on Bank of Hawaii from $64.00 to $67.00 and gave the stock an “underweight” rating in a research report on Tuesday. Three equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $73.17.

Insider Activity at Bank of Hawaii

In related news, CAO Patrick M. Mcguirk sold 2,000 shares of the stock in a transaction on Friday, January 31st. The shares were sold at an average price of $75.08, for a total transaction of $150,160.00. Following the sale, the chief accounting officer now directly owns 9,173 shares of the company’s stock, valued at approximately $688,708.84. This represents a 17.90 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Taryn L. Salmon sold 449 shares of Bank of Hawaii stock in a transaction on Thursday, January 30th. The shares were sold at an average price of $74.97, for a total transaction of $33,661.53. Following the completion of the transaction, the insider now directly owns 9,880 shares of the company’s stock, valued at $740,703.60. The trade was a 4.35 % decrease in their position. The disclosure for this sale can be found here. 2.07% of the stock is currently owned by insiders.

About Bank of Hawaii

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.