Axxcess Wealth Management LLC reduced its position in Bank of Hawaii Co. (NYSE:BOH – Get Rating) by 6.7% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,491 shares of the bank’s stock after selling 535 shares during the period. Axxcess Wealth Management LLC’s holdings in Bank of Hawaii were worth $557,000 at the end of the most recent quarter.
A number of other large investors also recently modified their holdings of the company. Meeder Asset Management Inc. raised its stake in shares of Bank of Hawaii by 183.7% during the 2nd quarter. Meeder Asset Management Inc. now owns 417 shares of the bank’s stock worth $31,000 after purchasing an additional 270 shares during the period. Steward Partners Investment Advisory LLC raised its stake in shares of Bank of Hawaii by 110.6% during the 1st quarter. Steward Partners Investment Advisory LLC now owns 476 shares of the bank’s stock worth $40,000 after purchasing an additional 250 shares during the period. Pinebridge Investments L.P. raised its stake in shares of Bank of Hawaii by 488.0% during the 2nd quarter. Pinebridge Investments L.P. now owns 588 shares of the bank’s stock worth $44,000 after purchasing an additional 488 shares during the period. Covestor Ltd increased its holdings in Bank of Hawaii by 72.4% in the 1st quarter. Covestor Ltd now owns 707 shares of the bank’s stock worth $59,000 after acquiring an additional 297 shares during the last quarter. Finally, Point72 Hong Kong Ltd increased its holdings in Bank of Hawaii by 27.9% in the 1st quarter. Point72 Hong Kong Ltd now owns 710 shares of the bank’s stock worth $60,000 after acquiring an additional 155 shares during the last quarter. 74.84% of the stock is currently owned by institutional investors.
Insider Buying and Selling
In related news, CEO Peter S. Ho sold 5,500 shares of the company’s stock in a transaction on Thursday, November 10th. The stock was sold at an average price of $79.30, for a total value of $436,150.00. Following the sale, the chief executive officer now directly owns 233,681 shares of the company’s stock, valued at $18,530,903.30. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. 2.06% of the stock is owned by insiders.
Bank of Hawaii Stock Performance
Bank of Hawaii (NYSE:BOH – Get Rating) last posted its earnings results on Monday, October 24th. The bank reported $1.28 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.42 by ($0.14). Bank of Hawaii had a net margin of 31.88% and a return on equity of 18.37%. During the same period in the previous year, the firm earned $1.52 EPS. On average, sell-side analysts predict that Bank of Hawaii Co. will post 5.63 earnings per share for the current fiscal year.
Bank of Hawaii Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 14th. Stockholders of record on Wednesday, November 30th will be paid a dividend of $0.70 per share. The ex-dividend date is Tuesday, November 29th. This represents a $2.80 annualized dividend and a dividend yield of 3.43%. Bank of Hawaii’s dividend payout ratio (DPR) is presently 50.63%.
Wall Street Analyst Weigh In
BOH has been the subject of several recent research reports. StockNews.com initiated coverage on Bank of Hawaii in a report on Wednesday, October 12th. They issued a “hold” rating for the company. Compass Point reduced their target price on Bank of Hawaii to $86.00 in a report on Thursday, October 27th. Finally, DA Davidson reduced their target price on Bank of Hawaii from $80.00 to $76.00 and set a “neutral” rating for the company in a report on Tuesday, October 25th.
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, personal 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, and 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.
- Get a free copy of the StockNews.com research report on Bank of Hawaii (BOH)
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