Cramer Rosenthal Mcglynn LLC Sells 379,915 Shares of Bank of Hawaii Corporation $BOH

Cramer Rosenthal Mcglynn LLC decreased its position in shares of Bank of Hawaii Corporation (NYSE:BOH) by 77.9% during the third quarter, Holdings Channel.com reports. The fund owned 107,554 shares of the bank’s stock after selling 379,915 shares during the quarter. Cramer Rosenthal Mcglynn LLC’s holdings in Bank of Hawaii were worth $7,060,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of the company. MAI Capital Management boosted its stake in Bank of Hawaii by 5.7% in the 3rd quarter. MAI Capital Management now owns 2,972 shares of the bank’s stock worth $195,000 after purchasing an additional 160 shares during the period. Cerity Partners LLC boosted its stake in Bank of Hawaii by 1.2% during the second quarter. Cerity Partners LLC now owns 16,391 shares of the bank’s stock worth $1,107,000 after buying an additional 196 shares during the period. California State Teachers Retirement System lifted its stake in Bank of Hawaii by 0.6% in the second quarter. California State Teachers Retirement System now owns 36,698 shares of the bank’s stock worth $2,478,000 after purchasing an additional 213 shares during the last quarter. Farther Finance Advisors LLC boosted its holdings in Bank of Hawaii by 150.0% during the 3rd quarter. Farther Finance Advisors LLC now owns 450 shares of the bank’s stock valued at $30,000 after acquiring an additional 270 shares during the period. Finally, Jones Financial Companies Lllp boosted its stake in shares of Bank of Hawaii by 8.8% during the third quarter. Jones Financial Companies Lllp now owns 3,804 shares of the bank’s stock valued at $250,000 after purchasing an additional 307 shares during the period. Hedge funds and other institutional investors own 82.18% of the company’s stock.

Bank of Hawaii Stock Performance

BOH opened at $76.78 on Friday. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.37. Bank of Hawaii Corporation has a 12-month low of $57.44 and a 12-month high of $80.61. The firm has a 50 day moving average of $74.35 and a two-hundred day moving average of $69.04. The firm has a market capitalization of $3.05 billion, a PE ratio of 16.62, a P/E/G ratio of 0.80 and a beta of 0.73.

Bank of Hawaii (NYSE:BOH) last issued its earnings results on Monday, January 26th. The bank reported $1.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.25 by $0.14. The firm had revenue of $189.65 million during the quarter, compared to analysts’ expectations of $184.83 million. Bank of Hawaii had a net margin of 19.30% and a return on equity of 14.42%. During the same quarter last year, the company posted $0.85 earnings per share. On average, analysts anticipate that Bank of Hawaii Corporation will post 3.97 EPS for the current year.

Bank of Hawaii Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 13th. Stockholders of record on Friday, February 27th will be issued a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a dividend yield of 3.6%. The ex-dividend date of this dividend is Friday, February 27th. Bank of Hawaii’s payout ratio is 60.61%.

Insider Activity

In related news, CEO Peter S. Ho sold 15,000 shares of the stock in a transaction on Friday, January 2nd. The shares were sold at an average price of $67.87, for a total transaction of $1,018,050.00. Following the sale, the chief executive officer directly owned 156,774 shares of the company’s stock, valued at approximately $10,640,251.38. This represents a 8.73% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 2.07% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several research analysts have issued reports on BOH shares. Wall Street Zen upgraded shares of Bank of Hawaii from a “sell” rating to a “hold” rating in a report on Saturday, January 31st. Barclays increased their price target on shares of Bank of Hawaii from $75.00 to $83.00 and gave the company an “equal weight” rating in a research report on Tuesday, January 27th. DA Davidson raised their target price on shares of Bank of Hawaii from $73.00 to $81.00 and gave the company a “neutral” rating in a research note on Tuesday, January 27th. Weiss Ratings reiterated a “hold (c)” rating on shares of Bank of Hawaii in a research note on Monday, December 29th. Finally, Keefe, Bruyette & Woods raised Bank of Hawaii from a “market perform” rating to an “outperform” rating and raised their price target for the stock from $75.00 to $91.00 in a report on Tuesday, January 27th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $81.80.

Bank of Hawaii Profile

Bank of Hawaii (NYSE: BOH) is a regional commercial bank headquartered in Honolulu, Hawaii, with roots tracing back to its founding in 1897 by Charles Montague Cooke and Peter Cushman Jones. As one of the oldest financial institutions in the U.S. West Coast region, the bank has built a reputation for stability and community focus. It operates as the principal subsidiary of Bank of Hawaii Corporation, a publicly traded company on the New York Stock Exchange.

The bank offers a comprehensive suite of personal and business banking products and services.