Comerica Bank Sells 612 Shares of Bank of Hawaii Co. (NYSE:BOH)

Comerica Bank lessened its position in Bank of Hawaii Co. (NYSE:BOH) by 3.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 18,396 shares of the bank’s stock after selling 612 shares during the quarter. Comerica Bank’s holdings in Bank of Hawaii were worth $1,311,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Swiss National Bank raised its holdings in Bank of Hawaii by 0.8% in the 4th quarter. Swiss National Bank now owns 78,137 shares of the bank’s stock worth $5,566,000 after acquiring an additional 600 shares during the period. JPMorgan Chase & Co. raised its holdings in 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 during the period. Principal Financial Group Inc. raised its holdings in Bank of Hawaii by 2.9% in the 4th quarter. Principal Financial Group Inc. now owns 192,718 shares of the bank’s stock worth $13,729,000 after acquiring an additional 5,451 shares during the period. Barclays PLC raised its holdings in Bank of Hawaii by 91.2% in the 3rd quarter. Barclays PLC now owns 93,504 shares of the bank’s stock worth $5,870,000 after acquiring an additional 44,599 shares during the period. Finally, Norges Bank acquired a new stake in Bank of Hawaii in the 4th quarter worth $27,495,000. Institutional investors own 82.18% of the company’s stock.

Analyst Ratings Changes

Several analysts have issued reports on the stock. Piper Sandler raised their price target on shares of Bank of Hawaii from $66.00 to $68.00 and gave the stock an “underweight” rating in a research report on Tuesday, January 28th. Barclays raised their price target on shares of Bank of Hawaii from $64.00 to $67.00 and gave the stock an “underweight” rating in a research report on Tuesday, April 22nd. Finally, DA Davidson raised their price target on shares of Bank of Hawaii from $75.00 to $79.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 28th. Three equities research analysts have rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $73.17.

Insider Buying and Selling at Bank of Hawaii

In other Bank of Hawaii news, insider Taryn L. Salmon sold 1,652 shares of the business’s stock in a transaction dated Thursday, April 24th. The shares were sold at an average price of $66.15, for a total value of $109,279.80. Following the transaction, the insider now directly owns 6,442 shares in the company, valued at $426,138.30. The trade was a 20.41% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 2.07% of the company’s stock.

Bank of Hawaii Price Performance

Shares of Bank of Hawaii stock opened at $68.09 on Monday. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.71 and a current ratio of 0.71. The firm’s 50-day simple moving average is $66.43 and its 200-day simple moving average is $71.09. Bank of Hawaii Co. has a twelve month low of $54.50 and a twelve month high of $82.70. The firm has a market cap of $2.71 billion, a P/E ratio of 19.68 and a beta of 0.76.

Bank of Hawaii (NYSE:BOH) last issued its earnings results on Monday, April 21st. The bank reported $0.97 earnings per share for the quarter, beating the consensus estimate of $0.89 by $0.08. Bank of Hawaii had a net margin of 14.47% and a return on equity of 11.81%. The business had revenue of $169.87 million for the quarter, compared to analyst estimates of $168.65 million. During the same period in the previous year, the business earned $0.87 EPS. As a group, research analysts expect that Bank of Hawaii Co. will post 3.97 EPS for the current fiscal year.

Bank of Hawaii Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 13th. Stockholders of record on Friday, May 30th will be given a dividend of $0.70 per share. The ex-dividend date of this dividend is Friday, May 30th. This represents a $2.80 annualized dividend and a dividend yield of 4.11%. Bank of Hawaii’s dividend payout ratio (DPR) is currently 78.65%.

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.