State Board of Administration of Florida Retirement System Reduces Holdings in Bank of Hawaii Co. (NYSE:BOH)

State Board of Administration of Florida Retirement System decreased its position in shares of Bank of Hawaii Co. (NYSE:BOH) by 4.0% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 48,446 shares of the bank’s stock after selling 2,007 shares during the period. State Board of Administration of Florida Retirement System’s holdings in Bank of Hawaii were worth $4,080,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in BOH. Pflug Koory LLC purchased a new stake in Bank of Hawaii during the 2nd quarter worth $42,000. Twin Lakes Capital Management LLC purchased a new stake in Bank of Hawaii during the 1st quarter worth $74,000. PNC Managed Account Solutions Inc. purchased a new stake in Bank of Hawaii during the 2nd quarter worth $139,000. Guggenheim Capital LLC bought a new stake in shares of Bank of Hawaii in the 1st quarter worth about $202,000. Finally, Weil Company Inc. bought a new stake in shares of Bank of Hawaii in the 1st quarter worth about $211,000. 71.82% of the stock is currently owned by hedge funds and other institutional investors.

BOH opened at $79.14 on Thursday. The company has a 50-day moving average of $82.65 and a 200-day moving average of $87.17. The company has a market capitalization of $3.20 billion, a P/E ratio of 15.25, a PEG ratio of 1.68 and a beta of 1.27. Bank of Hawaii Co. has a 1-year low of $48.77 and a 1-year high of $99.10.

Bank of Hawaii (NYSE:BOH) last released its earnings results on Sunday, July 25th. The bank reported $1.68 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.31 by $0.37. The company had revenue of $167.95 million during the quarter, compared to the consensus estimate of $166.29 million. Bank of Hawaii had a net margin of 29.80% and a return on equity of 15.10%. During the same quarter in the previous year, the firm earned $0.98 EPS. As a group, sell-side analysts expect that Bank of Hawaii Co. will post 5.85 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 15th. Stockholders of record on Tuesday, August 31st were issued a $0.70 dividend. The ex-dividend date was Monday, August 30th. This is a positive change from Bank of Hawaii’s previous quarterly dividend of $0.67. This represents a $2.80 annualized dividend and a dividend yield of 3.54%. Bank of Hawaii’s payout ratio is 72.54%.

Separately, Zacks Investment Research downgraded shares of Bank of Hawaii from a “buy” rating to a “hold” rating and set a $94.00 target price for the company. in a research report on Wednesday, June 9th.

In other Bank of Hawaii news, insider Mary E. Sellers sold 5,000 shares of the business’s stock in a transaction dated Monday, June 28th. The shares were sold at an average price of $86.84, for a total transaction of $434,200.00. Following the completion of the transaction, the insider now directly owns 100,972 shares of the company’s stock, valued at approximately $8,768,408.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Peter S. Ho sold 5,833 shares of the business’s stock in a transaction dated Monday, September 20th. The shares were sold at an average price of $76.00, for a total transaction of $443,308.00. The disclosure for this sale can be found here. Insiders sold a total of 60,833 shares of company stock valued at $5,062,443 over the last ninety days. Company insiders own 2.02% of the company’s stock.

Bank of Hawaii Company Profile

Bank of Hawaii Corp. operates as a bank holding company, which engages in the provision of financial services. It operates through the following segments: Retail Banking, Commercial Banking, Investment Services and Private Banking, and Treasury and Other. The Retail Banking segment offers financial products and services to consumers and small businesses.

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

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