State of Alaska Department of Revenue Trims Stake in Bank of Hawaii Co. (NYSE:BOH)

State of Alaska Department of Revenue lessened its stake in Bank of Hawaii Co. (NYSE:BOH) by 0.6% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 22,538 shares of the bank’s stock after selling 135 shares during the period. State of Alaska Department of Revenue’s holdings in Bank of Hawaii were worth $1,605,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. SG Americas Securities LLC grew its position in Bank of Hawaii by 33.8% during the third quarter. SG Americas Securities LLC now owns 9,737 shares of the bank’s stock valued at $611,000 after buying an additional 2,459 shares during the period. Harrington Investments INC grew its position in shares of Bank of Hawaii by 2.3% during the 3rd quarter. Harrington Investments INC now owns 20,156 shares of the bank’s stock valued at $1,265,000 after acquiring an additional 450 shares during the period. International Assets Investment Management LLC purchased a new position in shares of Bank of Hawaii in the 3rd quarter valued at about $70,960,000. Mirae Asset Global Investments Co. Ltd. raised its holdings in Bank of Hawaii by 11.9% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 24,205 shares of the bank’s stock worth $1,511,000 after purchasing an additional 2,566 shares during the period. Finally, Congress Asset Management Co. boosted its position in Bank of Hawaii by 30.5% during the third quarter. Congress Asset Management Co. now owns 61,134 shares of the bank’s stock worth $3,837,000 after purchasing an additional 14,286 shares in the last quarter. Institutional investors and hedge funds own 82.18% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently commented on the company. Stephens began coverage on Bank of Hawaii in a research report on Wednesday, November 27th. They issued an “overweight” rating and a $90.00 price objective for the company. Barclays boosted their price target on shares of Bank of Hawaii from $56.00 to $66.00 and gave the stock an “underweight” rating in a report on Thursday, December 5th. Keefe, Bruyette & Woods increased their price objective on shares of Bank of Hawaii from $74.00 to $81.00 and gave the company a “market perform” rating in a report on Wednesday, December 4th. DA Davidson boosted their target price on shares of Bank of Hawaii from $75.00 to $79.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 28th. Finally, Piper Sandler raised their price target on shares of Bank of Hawaii from $66.00 to $68.00 and gave the company an “underweight” rating in a research note on Tuesday, January 28th. Three investment analysts have rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $73.00.

Insider Buying and Selling at Bank of Hawaii

In other Bank of Hawaii news, insider Taryn L. Salmon sold 449 shares of the company’s stock in a transaction on Thursday, January 30th. The stock was sold at an average price of $74.97, for a total transaction of $33,661.53. Following the transaction, the insider now directly owns 9,880 shares in the company, valued at $740,703.60. This represents a 4.35 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Patrick M. Mcguirk sold 2,000 shares of Bank of Hawaii stock in a transaction on Friday, January 31st. The shares were sold at an average price of $75.08, for a total value of $150,160.00. Following the completion of the sale, the chief accounting officer now directly owns 9,173 shares of the company’s stock, valued at $688,708.84. The trade was a 17.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.47% of the stock is owned by company insiders.

Bank of Hawaii Price Performance

Shares of NYSE BOH opened at $74.65 on Wednesday. The firm has a 50-day simple moving average of $72.40 and a 200-day simple moving average of $69.89. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.42. The stock has a market capitalization of $2.97 billion, a price-to-earnings ratio of 21.57 and a beta of 1.04. Bank of Hawaii Co. has a 52 week low of $54.50 and a 52 week high of $82.70.

Bank of Hawaii (NYSE:BOH) last released its quarterly earnings data on Monday, January 27th. The bank reported $0.85 EPS for the quarter, missing analysts’ consensus estimates of $0.87 by ($0.02). Bank of Hawaii had a net margin of 14.47% and a return on equity of 11.81%. On average, equities analysts predict that Bank of Hawaii Co. will post 3.94 earnings per share for the current fiscal year.

Bank of Hawaii Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Friday, February 28th will be paid a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 3.75%. The ex-dividend date is Friday, February 28th. Bank of Hawaii’s dividend payout ratio (DPR) is currently 80.92%.

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.