Illinois Municipal Retirement Fund Reduces Stake in Bank of Hawaii Co. (NYSE:BOH)

Illinois Municipal Retirement Fund cut its position in shares of Bank of Hawaii Co. (NYSE:BOH) by 10.9% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 21,611 shares of the bank’s stock after selling 2,636 shares during the quarter. Illinois Municipal Retirement Fund owned 0.05% of Bank of Hawaii worth $1,566,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of BOH. Victory Capital Management Inc. raised its position in shares of Bank of Hawaii by 28.6% in the 3rd quarter. Victory Capital Management Inc. now owns 2,652,216 shares of the bank’s stock worth $131,789,000 after buying an additional 590,492 shares during the period. Charles Schwab Investment Management Inc. raised its position in shares of Bank of Hawaii by 3.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,118,092 shares of the bank’s stock valued at $55,558,000 after acquiring an additional 39,512 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its stake in Bank of Hawaii by 1.2% during the third quarter. Massachusetts Financial Services Co. MA now owns 506,438 shares of the bank’s stock worth $25,165,000 after purchasing an additional 6,094 shares during the last quarter. Northern Trust Corp boosted its holdings in Bank of Hawaii by 0.9% in the third quarter. Northern Trust Corp now owns 415,092 shares of the bank’s stock worth $20,626,000 after purchasing an additional 3,736 shares during the period. Finally, Newport Trust Company LLC bought a new stake in Bank of Hawaii during the third quarter valued at $20,170,000. 82.18% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

Bank of Hawaii Trading Down 0.9 %

Bank of Hawaii stock opened at $58.60 on Friday. 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 firm has a market capitalization of $2.33 billion, a price-to-earnings ratio of 15.10, a P/E/G ratio of 2.05 and a beta of 1.06. The company has a 50 day moving average price of $60.22 and a 200 day moving average price of $60.85.

Bank of Hawaii (NYSE:BOH) last issued its earnings results on Friday, April 26th. The bank reported $0.87 EPS for the quarter, missing the consensus estimate of $0.92 by ($0.05). Bank of Hawaii had a return on equity of 13.25% and a net margin of 15.91%. The business had revenue of $252.64 million during the quarter, compared to analyst estimates of $160.79 million. During the same period last year, the business earned $1.14 EPS. Research analysts forecast that Bank of Hawaii Co. will post 3.6 EPS for the current year.

Bank of Hawaii Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, June 14th. Stockholders of record on Friday, May 31st will be issued a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a dividend yield of 4.78%. The ex-dividend date of this dividend is Thursday, May 30th. Bank of Hawaii’s dividend payout ratio is currently 72.16%.

About Bank of Hawaii

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.