Trust Point Inc. Buys New Stake in Bank of Hawaii Co. (NYSE:BOH)

Trust Point Inc. purchased a new stake in Bank of Hawaii Co. (NYSE:BOH) in the 4th quarter, according to its most recent filing with the SEC. The institutional investor purchased 2,870 shares of the bank’s stock, valued at approximately $204,000.

Several other hedge funds also recently added to or reduced their stakes in the stock. International Assets Investment Management LLC acquired a new stake in Bank of Hawaii in the third quarter valued at approximately $70,960,000. State Street Corp boosted its stake in shares of Bank of Hawaii by 5.0% in the third quarter. State Street Corp now owns 2,244,649 shares of the bank’s stock valued at $140,897,000 after purchasing an additional 106,717 shares during the period. Barclays PLC grew its holdings in Bank of Hawaii by 91.2% during the 3rd quarter. Barclays PLC now owns 93,504 shares of the bank’s stock valued at $5,870,000 after purchasing an additional 44,599 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in Bank of Hawaii by 2.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,511,420 shares of the bank’s stock worth $94,872,000 after buying an additional 35,187 shares during the period. Finally, Quest Partners LLC acquired a new position in Bank of Hawaii in the 3rd quarter worth $1,823,000. 82.18% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Bank of Hawaii

In other news, insider Taryn L. Salmon sold 449 shares of the business’s stock in a transaction on Thursday, January 30th. The shares were sold at an average price of $74.97, for a total transaction of $33,661.53. Following the completion of the transaction, the insider now owns 9,880 shares of the company’s stock, valued at approximately $740,703.60. The trade was a 4.35 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CAO Patrick M. Mcguirk sold 2,000 shares of the stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $75.08, for a total transaction of $150,160.00. Following the completion of the sale, the chief accounting officer now directly owns 9,173 shares in the company, valued at approximately $688,708.84. This trade represents a 17.90 % decrease in their position. The disclosure for this sale can be found here. Insiders own 2.47% of the company’s stock.

Bank of Hawaii Stock Performance

Bank of Hawaii stock opened at $75.80 on Friday. The company has a market cap of $3.01 billion, a PE ratio of 21.91 and a beta of 1.04. Bank of Hawaii Co. has a 12 month low of $54.50 and a 12 month high of $82.70. The company has a fifty day moving average price of $72.65 and a two-hundred day moving average price of $69.73. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.71 and a quick ratio of 0.71.

Bank of Hawaii (NYSE:BOH) last posted its quarterly earnings results on Monday, January 27th. The bank reported $0.85 EPS for the quarter, missing the consensus estimate of $0.87 by ($0.02). Bank of Hawaii had a net margin of 14.47% and a return on equity of 11.81%. Research analysts expect that Bank of Hawaii Co. will post 3.87 earnings per share for the current year.

Bank of Hawaii Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Friday, February 28th will be issued a $0.70 dividend. This represents a $2.80 annualized dividend and a dividend yield of 3.69%. The ex-dividend date is Friday, February 28th. Bank of Hawaii’s dividend payout ratio (DPR) is 80.92%.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on BOH. Piper Sandler raised their target price on Bank of Hawaii from $66.00 to $68.00 and gave the company an “underweight” rating in a research note on Tuesday, January 28th. Keefe, Bruyette & Woods lifted their price objective 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. Stephens started coverage on Bank of Hawaii in a research note on Wednesday, November 27th. They set an “overweight” rating and a $90.00 target price for the company. Barclays lifted their price target on shares of Bank of Hawaii from $56.00 to $66.00 and gave the stock an “underweight” rating in a research note on Thursday, December 5th. Finally, DA Davidson raised their price objective on shares of Bank of Hawaii from $75.00 to $79.00 and gave the stock a “neutral” rating in a report on Tuesday, January 28th. Three investment analysts have rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, Bank of Hawaii has an average rating of “Hold” and an average target price of $73.00.

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.