Pinebridge Investments L.P. cut its position in shares of Bank of Hawaii Co. (NYSE:BOH) by 11.7% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 23,024 shares of the bank’s stock after selling 3,049 shares during the period. Pinebridge Investments L.P. owned about 0.05% of Bank of Hawaii worth $1,919,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Alps Advisors Inc. increased its position in shares of Bank of Hawaii by 0.3% during the second quarter. Alps Advisors Inc. now owns 5,667 shares of the bank’s stock valued at $470,000 after purchasing an additional 15 shares during the period. World Asset Management Inc grew its position in Bank of Hawaii by 1.4% in the second quarter. World Asset Management Inc now owns 2,660 shares of the bank’s stock valued at $221,000 after acquiring an additional 36 shares during the period. Northwestern Mutual Investment Management Company LLC grew its position in Bank of Hawaii by 1.2% in the second quarter. Northwestern Mutual Investment Management Company LLC now owns 7,436 shares of the bank’s stock valued at $512,000 after acquiring an additional 87 shares during the period. Cadinha & Co. LLC grew its position in Bank of Hawaii by 0.3% in the second quarter. Cadinha & Co. LLC now owns 32,993 shares of the bank’s stock valued at $2,737,000 after acquiring an additional 100 shares during the period. Finally, Great West Life Assurance Co. Can grew its position in Bank of Hawaii by 0.6% in the second quarter. Great West Life Assurance Co. Can now owns 25,591 shares of the bank’s stock valued at $2,122,000 after acquiring an additional 146 shares during the period. Institutional investors and hedge funds own 75.60% of the company’s stock.

In related news, insider Donna A. Tanoue sold 6,000 shares of the company’s stock in a transaction dated Tuesday, September 12th. The stock was sold at an average price of $76.88, for a total value of $461,280.00. Following the completion of the sale, the insider now owns 9,969 shares in the company, valued at $766,416.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Donna A. Tanoue sold 4,050 shares of the company’s stock in a transaction dated Monday, September 11th. The shares were sold at an average price of $76.15, for a total value of $308,407.50. Following the completion of the sale, the insider now owns 9,969 shares of the company’s stock, valued at approximately $759,139.35. The disclosure for this sale can be found here. Corporate insiders own 2.16% of the company’s stock.

A number of brokerages have weighed in on BOH. Zacks Investment Research cut Bank of Hawaii from a “hold” rating to a “sell” rating in a research report on Tuesday, September 26th. Morgan Stanley reiterated an “underweight” rating and issued a $77.00 price target (up from $75.00) on shares of Bank of Hawaii in a research report on Wednesday, October 4th. Jefferies Group reiterated a “hold” rating and issued a $92.00 price target on shares of Bank of Hawaii in a research report on Wednesday, October 11th. Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $88.00 price target on shares of Bank of Hawaii in a research report on Tuesday, October 24th. Finally, Piper Jaffray Companies reiterated a “hold” rating and issued a $90.50 price target on shares of Bank of Hawaii in a research report on Tuesday, October 24th. Two investment analysts have rated the stock with a sell rating and five have given a hold rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $87.92.

Shares of Bank of Hawaii Co. (NYSE BOH) opened at $84.40 on Thursday. The company has a market capitalization of $3,633.62, a PE ratio of 19.66, a P/E/G ratio of 2.28 and a beta of 0.97. The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 0.22. Bank of Hawaii Co. has a fifty-two week low of $74.72 and a fifty-two week high of $90.80.

Bank of Hawaii (NYSE:BOH) last released its quarterly earnings data on Monday, October 23rd. The bank reported $1.08 EPS for the quarter, meeting analysts’ consensus estimates of $1.08. The business had revenue of $158.73 million during the quarter, compared to the consensus estimate of $163.29 million. Bank of Hawaii had a return on equity of 15.45% and a net margin of 27.27%. During the same quarter in the prior year, the company posted $1.02 earnings per share. equities analysts expect that Bank of Hawaii Co. will post 4.42 EPS for the current fiscal year.

Bank of Hawaii announced that its Board of Directors has initiated a stock repurchase program on Monday, October 23rd that allows the company to repurchase $100.00 million in shares. This repurchase authorization allows the bank to purchase shares of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board of directors believes its shares are undervalued.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 14th. Investors of record on Thursday, November 30th will be issued a $0.52 dividend. The ex-dividend date of this dividend is Wednesday, November 29th. This represents a $2.08 dividend on an annualized basis and a yield of 2.46%. Bank of Hawaii’s dividend payout ratio is presently 47.82%.

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Bank of Hawaii Profile

Bank of Hawaii Corporation is a bank holding company that operates through its subsidiary, Bank of Hawaii (the Bank). The Bank provides a range of financial products and services primarily to customers in Hawaii, Guam and other Pacific Islands. It operates in four segments: Retail Banking, Commercial Banking, Investment Services, and Treasury and Other.

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

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