LPL Financial LLC Boosts Stake in Bank of Hawaii Co. (NYSE:BOH)

LPL Financial LLC grew its stake in shares of Bank of Hawaii Co. (NYSE:BOH) by 74.3% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 17,727 shares of the bank’s stock after acquiring an additional 7,554 shares during the quarter. LPL Financial LLC’s holdings in Bank of Hawaii were worth $1,263,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in BOH. SBI Securities Co. Ltd. purchased a new stake in Bank of Hawaii during the 4th quarter worth about $50,000. Smartleaf Asset Management LLC raised its position in shares of Bank of Hawaii by 204.9% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,543 shares of the bank’s stock valued at $110,000 after buying an additional 1,037 shares during the last quarter. KBC Group NV lifted its stake in shares of Bank of Hawaii by 70.9% during the fourth quarter. KBC Group NV now owns 1,957 shares of the bank’s stock valued at $139,000 after buying an additional 812 shares during the period. Xponance Inc. acquired a new stake in Bank of Hawaii during the fourth quarter worth approximately $201,000. Finally, Choreo LLC purchased a new stake in Bank of Hawaii in the 4th quarter worth approximately $205,000. 82.18% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on BOH. DA Davidson increased their price target on Bank of Hawaii from $75.00 to $79.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 28th. Piper Sandler raised their price target on Bank of Hawaii from $66.00 to $68.00 and gave the stock an “underweight” rating in a research note on Tuesday, January 28th. Finally, Barclays lowered their price target on Bank of Hawaii from $66.00 to $64.00 and set an “underweight” rating for the company in a report on Tuesday, April 8th. Three research analysts have rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $72.67.

Insiders Place Their Bets

In related news, 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 transaction of $150,160.00. Following the transaction, the chief accounting officer now owns 9,173 shares in the company, valued at approximately $688,708.84. The trade was a 17.90 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, 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 sale, the insider now directly owns 9,880 shares of the company’s stock, valued at approximately $740,703.60. This trade represents a 4.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.07% of the stock is owned by insiders.

Bank of Hawaii Trading Up 1.2 %

Shares of BOH opened at $64.99 on Friday. Bank of Hawaii Co. has a twelve month low of $54.50 and a twelve month high of $82.70. The firm has a market capitalization of $2.59 billion, a P/E ratio of 18.78 and a beta of 0.87. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.42. The stock’s fifty day simple moving average is $67.92 and its 200 day simple moving average is $70.82.

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 return on equity of 11.81% and a net margin of 14.47%. On average, equities research analysts forecast that Bank of Hawaii Co. will post 3.97 earnings per share for the current year.

Bank of Hawaii Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 28th were given a dividend of $0.70 per share. The ex-dividend date of this dividend was Friday, February 28th. This represents a $2.80 dividend on an annualized basis and a yield of 4.31%. Bank of Hawaii’s dividend payout ratio (DPR) is 80.92%.

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.