Oppenheimer Asset Management Inc. Acquires Shares of 5,809 Bank of Hawaii Co. (NYSE:BOH)

Oppenheimer Asset Management Inc. acquired a new position in shares of Bank of Hawaii Co. (NYSE:BOH) in the 2nd quarter, according to its most recent disclosure with the SEC. The fund acquired 5,809 shares of the bank’s stock, valued at approximately $332,000.

A number of other institutional investors also recently bought and sold shares of the business. Quest Partners LLC acquired a new stake in shares of Bank of Hawaii during the 4th quarter worth about $41,000. Rothschild Investment LLC acquired a new position in shares of Bank of Hawaii in the 2nd quarter valued at $172,000. Clearbridge Investments LLC purchased a new position in shares of Bank of Hawaii in the 4th quarter valued at $217,000. Central Pacific Bank Trust Division acquired a new stake in Bank of Hawaii during the 1st quarter worth $244,000. Finally, B. Riley Wealth Advisors Inc. acquired a new stake in Bank of Hawaii during the 1st quarter worth $283,000. 82.18% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the company. Piper Sandler lowered Bank of Hawaii from a “neutral” rating to an “underweight” rating and dropped their price objective for the stock from $70.00 to $61.00 in a report on Monday, August 12th. DA Davidson lifted their price target on Bank of Hawaii from $63.00 to $70.00 and gave the stock a “neutral” rating in a research report on Monday, July 29th. StockNews.com raised Bank of Hawaii to a “sell” rating in a report on Thursday, May 30th. Jefferies Financial Group lifted their target price on shares of Bank of Hawaii from $53.00 to $54.00 and gave the company a “hold” rating in a report on Wednesday, July 3rd. Finally, Keefe, Bruyette & Woods increased their price target on shares of Bank of Hawaii from $58.00 to $60.00 and gave the stock an “underperform” rating in a research note on Tuesday, July 23rd. Four analysts have rated the stock with a sell rating and two have assigned a hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Reduce” and a consensus target price of $59.00.

Insiders Place Their Bets

In related news, insider Taryn L. Salmon sold 2,364 shares of Bank of Hawaii stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $67.80, for a total value of $160,279.20. Following the sale, the insider now directly owns 10,785 shares in the company, valued at $731,223. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 2.11% of the stock is currently owned by insiders.

Bank of Hawaii Price Performance

Bank of Hawaii stock opened at $63.93 on Friday. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.71 and a quick ratio of 0.71. The business has a 50 day simple moving average of $65.70 and a 200-day simple moving average of $61.09. Bank of Hawaii Co. has a 12 month low of $45.56 and a 12 month high of $75.19. The stock has a market capitalization of $2.54 billion, a PE ratio of 16.48 and a beta of 1.05.

Bank of Hawaii (NYSE:BOH) last announced its quarterly earnings data on Monday, July 22nd. The bank reported $0.81 EPS for the quarter, missing analysts’ consensus estimates of $0.85 by ($0.04). The firm had revenue of $255.62 million for the quarter, compared to analysts’ expectations of $157.12 million. Bank of Hawaii had a return on equity of 12.25% and a net margin of 14.54%. During the same quarter in the previous year, the company posted $1.12 EPS. Equities analysts predict that Bank of Hawaii Co. will post 3.45 earnings per share for the current year.

Bank of Hawaii Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Friday, August 30th were issued a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 4.38%. The ex-dividend date of this dividend was Friday, August 30th. Bank of Hawaii’s dividend payout ratio is presently 72.16%.

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.