California Public Employees Retirement System Sells 1,968 Shares of Bank of Hawaii Co. (NYSE:BOH)

California Public Employees Retirement System cut its stake in Bank of Hawaii Co. (NYSE:BOH) by 3.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 59,736 shares of the bank’s stock after selling 1,968 shares during the quarter. California Public Employees Retirement System owned 0.15% of Bank of Hawaii worth $4,328,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of BOH. Harrington Investments INC grew its stake in Bank of Hawaii by 1.1% in the fourth quarter. Harrington Investments INC now owns 18,694 shares of the bank’s stock valued at $1,355,000 after acquiring an additional 200 shares during the period. Bleakley Financial Group LLC raised its holdings in Bank of Hawaii by 2.5% during the 4th quarter. Bleakley Financial Group LLC now owns 8,424 shares of the bank’s stock worth $610,000 after buying an additional 206 shares during the period. Covestor Ltd lifted its stake in Bank of Hawaii by 17.1% in the third quarter. Covestor Ltd now owns 1,429 shares of the bank’s stock valued at $71,000 after buying an additional 209 shares in the last quarter. Vanguard Personalized Indexing Management LLC boosted its holdings in shares of Bank of Hawaii by 4.1% in the third quarter. Vanguard Personalized Indexing Management LLC now owns 7,978 shares of the bank’s stock valued at $396,000 after buying an additional 314 shares during the period. Finally, Strs Ohio acquired a new position in shares of Bank of Hawaii in the fourth quarter valued at approximately $50,000. 82.18% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. StockNews.com raised shares of Bank of Hawaii to a “sell” rating in a research report on Thursday, January 25th. Piper Sandler reduced their price objective on Bank of Hawaii from $65.00 to $60.00 and set a “neutral” rating for the company in a research report on Tuesday, April 23rd. Barclays decreased their price objective on Bank of Hawaii from $51.00 to $50.00 and set an “underweight” rating for the company in a report on Tuesday, April 23rd. Keefe, Bruyette & Woods boosted their target price on Bank of Hawaii from $55.00 to $58.00 and gave the company an “underperform” rating in a research note on Tuesday, April 23rd. Finally, Jefferies Financial Group decreased their price target on shares of Bank of Hawaii from $67.00 to $62.00 and set a “hold” rating for the company in a research note on Monday, April 8th. Four equities research analysts have rated the stock with a sell rating and two have issued a hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Reduce” and an average target price of $52.20.

Bank of Hawaii Price Performance

NYSE:BOH opened at $58.86 on Monday. The stock’s 50-day simple moving average is $59.85 and its 200 day simple moving average is $61.21. Bank of Hawaii Co. has a 52-week low of $30.83 and a 52-week high of $75.19. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.70 and a current ratio of 0.70. The company has a market cap of $2.34 billion, a P/E ratio of 15.17, a P/E/G ratio of 2.05 and a beta of 1.07.

Bank of Hawaii (NYSE:BOH) last posted its quarterly earnings results on Friday, April 26th. The bank reported $0.87 earnings per share for the quarter, missing the consensus estimate of $0.92 by ($0.05). The company had revenue of $252.64 million for the quarter, compared to analyst estimates of $160.79 million. Bank of Hawaii had a return on equity of 13.25% and a net margin of 15.91%. During the same period last year, the firm earned $1.14 EPS. As a group, sell-side analysts forecast that Bank of Hawaii Co. will post 3.59 EPS for the current fiscal year.

Bank of Hawaii Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 14th. Shareholders of record on Friday, May 31st will be paid a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 4.76%. The ex-dividend date of this dividend is Thursday, May 30th. Bank of Hawaii’s dividend payout ratio is currently 72.16%.

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, overdraft 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, as well as 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.