Bank of Hawaii Co. (NYSE:BOH) Shares Purchased by Illinois Municipal Retirement Fund

Illinois Municipal Retirement Fund raised its stake in shares of Bank of Hawaii Co. (NYSE:BOH) by 0.8% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 21,787 shares of the bank’s stock after purchasing an additional 176 shares during the period. Illinois Municipal Retirement Fund’s holdings in Bank of Hawaii were worth $1,359,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. GAMMA Investing LLC acquired a new position in shares of Bank of Hawaii in the fourth quarter worth about $41,000. Quest Partners LLC purchased a new position in shares of Bank of Hawaii during the 4th quarter valued at approximately $41,000. Strs Ohio bought a new stake in shares of Bank of Hawaii in the fourth quarter worth $50,000. Radnor Capital Management LLC acquired a new stake in Bank of Hawaii in the fourth quarter valued at $217,000. Finally, Clearbridge Investments LLC bought a new position in shares of Bank of Hawaii during the fourth quarter worth about $217,000. 82.18% of the stock is currently owned by hedge funds and other institutional investors.

Bank of Hawaii Price Performance

Shares of NYSE:BOH opened at $60.86 on Monday. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.45. The firm’s 50 day moving average is $57.62 and its two-hundred day moving average is $60.74. The firm has a market capitalization of $2.42 billion, a P/E ratio of 15.69 and a beta of 1.06. Bank of Hawaii Co. has a 52 week low of $45.54 and a 52 week high of $75.19.

Bank of Hawaii (NYSE:BOH) last announced its 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). Bank of Hawaii had a net margin of 15.91% and a return on equity of 13.25%. The business had revenue of $252.64 million for the quarter, compared to the consensus estimate of $160.79 million. During the same period in the previous year, the firm earned $1.14 EPS. Analysts anticipate that Bank of Hawaii Co. will post 3.42 earnings per share for the current year.

Bank of Hawaii Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 14th. Investors of record on Friday, May 31st were paid a dividend of $0.70 per share. The ex-dividend date of this dividend was Friday, May 31st. This represents a $2.80 dividend on an annualized basis and a dividend yield of 4.60%. Bank of Hawaii’s dividend payout ratio is presently 72.16%.

Analysts Set New Price Targets

BOH has been the subject of a number of research analyst reports. StockNews.com upgraded Bank of Hawaii to a “sell” rating in a report on Thursday, May 30th. Barclays lowered their price objective 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, April 23rd. Piper Sandler decreased their target price on Bank of Hawaii from $65.00 to $60.00 and set a “neutral” rating for the company in a research note on Tuesday, April 23rd. Keefe, Bruyette & Woods increased their price target on Bank of Hawaii from $55.00 to $58.00 and gave the stock an “underperform” rating in a research report on Tuesday, April 23rd. Finally, Jefferies Financial Group boosted their price objective on Bank of Hawaii from $53.00 to $54.00 and gave the company a “hold” rating in a research report on Wednesday, July 3rd. Three research analysts have rated the stock with a sell rating and two have given a hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Reduce” and a consensus target price of $55.50.

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.