Wealth Alliance Makes New Investment in Bank of Hawaii Co. (NYSE:BOH)

Wealth Alliance bought a new position in Bank of Hawaii Co. (NYSE:BOH) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 3,115 shares of the bank’s stock, valued at approximately $222,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. International Assets Investment Management LLC acquired a new position in Bank of Hawaii in the 3rd quarter worth approximately $70,960,000. State Street Corp lifted its holdings 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 in the last quarter. Congress Asset Management Co. boosted its position in shares of Bank of Hawaii by 108.6% in the fourth quarter. Congress Asset Management Co. now owns 127,500 shares of the bank’s stock worth $9,083,000 after buying an additional 66,366 shares during the period. Barclays PLC boosted its position in shares of Bank of Hawaii by 91.2% in the third quarter. Barclays PLC now owns 93,504 shares of the bank’s stock worth $5,870,000 after buying an additional 44,599 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of Bank of Hawaii by 2.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,511,420 shares of the bank’s stock valued at $94,872,000 after buying an additional 35,187 shares in the last quarter. 82.18% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

BOH has been the topic of several recent analyst reports. DA Davidson upped their price target on Bank of Hawaii from $75.00 to $79.00 and gave the company a “neutral” rating in a research report on Tuesday, January 28th. Piper Sandler raised their price target on shares of Bank of Hawaii from $66.00 to $68.00 and gave the stock an “underweight” rating in a report on Tuesday, January 28th. Stephens began coverage on shares of Bank of Hawaii in a report on Wednesday, November 27th. They set an “overweight” rating and a $90.00 price target for the company. Barclays increased their target price on shares of Bank of Hawaii from $56.00 to $66.00 and gave the stock an “underweight” rating in a research report on Thursday, December 5th. Finally, Keefe, Bruyette & Woods boosted their price target 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. Three equities research 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, Bank of Hawaii currently has an average rating of “Hold” and a consensus target price of $73.00.

Bank of Hawaii Price Performance

Shares of BOH opened at $70.85 on Friday. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.71 and a current ratio of 0.71. The firm has a market cap of $2.82 billion, a PE ratio of 20.48 and a beta of 1.04. The firm’s 50 day moving average price is $71.91 and its 200 day moving average price is $70.22. Bank of Hawaii Co. has a twelve month low of $54.50 and a twelve month high of $82.70.

Bank of Hawaii (NYSE:BOH) last released its quarterly earnings results on Monday, January 27th. The bank reported $0.85 earnings per share 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%. As a group, research analysts expect that Bank of Hawaii Co. will post 3.97 EPS for the current fiscal year.

Bank of Hawaii Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Friday, February 28th will be given a $0.70 dividend. The ex-dividend date is Friday, February 28th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.95%. Bank of Hawaii’s dividend payout ratio is currently 80.92%.

Insider Transactions at Bank of Hawaii

In other news, CAO Patrick M. Mcguirk sold 2,000 shares of the business’s 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 in the company, valued at approximately $688,708.84. The trade was a 17.90 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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 represents a 4.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.11% of the stock is currently owned by corporate 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.