HighTower Advisors LLC Boosts Position in Bank of Hawaii Co. (NYSE:BOH)

HighTower Advisors LLC boosted its stake in shares of Bank of Hawaii Co. (NYSE:BOH) by 3.5% in the third quarter, HoldingsChannel reports. The institutional investor owned 23,655 shares of the bank’s stock after purchasing an additional 789 shares during the period. HighTower Advisors LLC’s holdings in Bank of Hawaii were worth $1,477,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Holocene Advisors LP purchased a new position in shares of Bank of Hawaii during the third quarter worth approximately $1,355,000. Point72 Asia Singapore Pte. Ltd. increased its holdings in Bank of Hawaii by 29.0% during the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 2,387 shares of the bank’s stock worth $150,000 after purchasing an additional 536 shares during the period. Edgestream Partners L.P. bought a new stake in Bank of Hawaii during the 3rd quarter valued at $837,000. Verition Fund Management LLC purchased a new stake in shares of Bank of Hawaii in the 3rd quarter worth $249,000. Finally, Glenmede Trust Co. NA lifted its holdings in shares of Bank of Hawaii by 3.0% in the 3rd quarter. Glenmede Trust Co. NA now owns 6,315 shares of the bank’s stock worth $396,000 after buying an additional 182 shares during the period. 82.18% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

BOH has been the subject of several recent research reports. DA Davidson lifted their price objective on Bank of Hawaii from $65.00 to $74.00 and gave the company a “neutral” rating in a report on Tuesday, October 29th. Barclays boosted their price target on shares of Bank of Hawaii from $56.00 to $66.00 and gave the company an “underweight” rating in a report on Thursday, December 5th. Stephens assumed coverage on shares of Bank of Hawaii in a research note on Wednesday, November 27th. They set an “overweight” rating and a $90.00 price objective on the stock. Piper Sandler boosted their price objective on shares of Bank of Hawaii from $61.00 to $66.00 and gave the stock an “underweight” rating in a research note on Tuesday, October 29th. Finally, Keefe, Bruyette & Woods upped their target price on Bank of Hawaii from $74.00 to $81.00 and gave the stock a “market perform” rating in a report on Wednesday, December 4th. Three analysts have rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $71.83.

Bank of Hawaii Stock Down 0.8 %

Shares of Bank of Hawaii stock opened at $74.08 on Monday. 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 company has a market cap of $2.94 billion, a P/E ratio of 22.25, a PEG ratio of 4.86 and a beta of 1.03. The firm’s 50 day moving average price is $73.41 and its 200-day moving average price is $66.26. 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 results on Monday, October 28th. The bank reported $0.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.82 by $0.11. Bank of Hawaii had a net margin of 13.76% and a return on equity of 11.33%. The business had revenue of $265.76 million for the quarter, compared to analyst estimates of $160.29 million. During the same period in the previous year, the company earned $1.17 earnings per share. On average, sell-side analysts predict that Bank of Hawaii Co. will post 3.52 EPS for the current fiscal year.

Bank of Hawaii Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Friday, November 29th were given a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 3.78%. The ex-dividend date was Friday, November 29th. Bank of Hawaii’s dividend payout ratio is currently 84.08%.

Insider Buying and Selling at Bank of Hawaii

In other Bank of Hawaii news, insider Matthew Emerson sold 1,355 shares of the company’s stock in a transaction that occurred on Wednesday, October 30th. The shares were sold at an average price of $72.27, for a total transaction of $97,925.85. Following the transaction, the insider now owns 13,717 shares in the company, valued at approximately $991,327.59. This represents a 8.99 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 2.11% of the stock is currently owned by company insiders.

Bank of Hawaii Company 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.