Geode Capital Management LLC Cuts Holdings in Bank of Hawaii Co. (NYSE:BOH)

Geode Capital Management LLC lowered its stake in shares of Bank of Hawaii Co. (NYSE:BOH) by 12.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 448,147 shares of the bank’s stock after selling 63,829 shares during the period. Geode Capital Management LLC owned approximately 1.07% of Bank of Hawaii worth $30,169,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the company. BlackRock Inc. boosted its stake in Bank of Hawaii by 2.9% during the 4th quarter. BlackRock Inc. now owns 4,930,583 shares of the bank’s stock valued at $331,928,000 after purchasing an additional 138,109 shares during the period. Vanguard Group Inc. boosted its stake in Bank of Hawaii by 3.3% during the 3rd quarter. Vanguard Group Inc. now owns 3,977,421 shares of the bank’s stock valued at $313,859,000 after purchasing an additional 127,262 shares during the period. Vanguard Group Inc boosted its stake in Bank of Hawaii by 3.3% during the 3rd quarter. Vanguard Group Inc now owns 3,977,421 shares of the bank’s stock valued at $313,859,000 after purchasing an additional 127,262 shares during the period. Dimensional Fund Advisors LP boosted its stake in Bank of Hawaii by 2.0% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,057,779 shares of the bank’s stock valued at $71,209,000 after purchasing an additional 20,612 shares during the period. Finally, Victory Capital Management Inc. boosted its stake in Bank of Hawaii by 6.3% during the 4th quarter. Victory Capital Management Inc. now owns 1,035,593 shares of the bank’s stock valued at $69,716,000 after purchasing an additional 61,600 shares during the period. 75.81% of the stock is currently owned by institutional investors and hedge funds.

A number of research analysts have issued reports on the stock. Zacks Investment Research raised shares of Bank of Hawaii from a “sell” rating to a “hold” rating in a research note on Thursday, April 11th. ValuEngine upgraded shares of Bank of Hawaii from a “sell” rating to a “hold” rating in a research report on Thursday, January 24th. Finally, Barclays restated a “hold” rating and set a $85.00 price target on shares of Bank of Hawaii in a research report on Friday, January 11th. One equities research analyst has rated the stock with a sell rating and four have assigned a hold rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $86.50.

Shares of BOH stock traded down $1.08 during midday trading on Friday, reaching $80.78. 140,004 shares of the company were exchanged, compared to its average volume of 206,438. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.11. Bank of Hawaii Co. has a 12 month low of $63.64 and a 12 month high of $88.92. The company has a market capitalization of $3.34 billion, a price-to-earnings ratio of 15.45, a price-to-earnings-growth ratio of 1.93 and a beta of 0.87.

Bank of Hawaii (NYSE:BOH) last released its earnings results on Monday, January 28th. The bank reported $1.30 EPS for the quarter, missing analysts’ consensus estimates of $1.36 by ($0.06). Bank of Hawaii had a return on equity of 17.53% and a net margin of 30.54%. The business had revenue of $166.08 million during the quarter, compared to the consensus estimate of $166.16 million. During the same quarter in the previous year, the firm earned $1.01 earnings per share. On average, equities research analysts predict that Bank of Hawaii Co. will post 5.59 earnings per share for the current year.

Bank of Hawaii declared that its board has authorized a stock repurchase program on Monday, January 28th that permits the company to repurchase $130.00 million in outstanding shares. This repurchase authorization permits the bank to purchase up to 4.1% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s board of directors believes its stock is undervalued.

In related news, Vice Chairman Sharon M. Crofts sold 5,833 shares of the business’s stock in a transaction that occurred on Wednesday, February 6th. The shares were sold at an average price of $79.62, for a total value of $464,423.46. Following the sale, the insider now directly owns 48,778 shares in the company, valued at approximately $3,883,704.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.13% of the stock is owned by insiders.

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Bank of Hawaii Company Profile

Bank of Hawaii Corporation operates as the bank holding company for Bank of Hawaii that provides financial products and services in Hawaii, Guam, and other Pacific Islands. It operates through four segments: Retail Banking, Commercial Banking, Investment Services and Private Banking, and Treasury and Other.

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Institutional Ownership by Quarter for Bank of Hawaii (NYSE:BOH)

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