Intech Investment Management LLC Invests $615,000 in Bank of Hawaii Co. (NYSE:BOH)

Intech Investment Management LLC purchased a new position in shares of Bank of Hawaii Co. (NYSE:BOH) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 9,801 shares of the bank’s stock, valued at approximately $615,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Quest Partners LLC purchased a new stake in Bank of Hawaii in the 3rd quarter worth about $1,823,000. Oppenheimer Asset Management Inc. grew its stake in Bank of Hawaii by 43.0% in the 3rd quarter. Oppenheimer Asset Management Inc. now owns 8,309 shares of the bank’s stock worth $522,000 after buying an additional 2,500 shares in the last quarter. GSA Capital Partners LLP increased its stake in Bank of Hawaii by 284.3% in the third quarter. GSA Capital Partners LLP now owns 20,885 shares of the bank’s stock valued at $1,311,000 after acquiring an additional 15,450 shares during the last quarter. Crestwood Advisors Group LLC purchased a new position in shares of Bank of Hawaii during the 3rd quarter valued at about $207,000. Finally, Congress Asset Management Co. lifted its holdings in shares of Bank of Hawaii by 30.5% in the 3rd quarter. Congress Asset Management Co. now owns 61,134 shares of the bank’s stock worth $3,837,000 after acquiring an additional 14,286 shares during the last quarter. 82.18% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. Piper Sandler boosted their target price on Bank of Hawaii from $61.00 to $66.00 and gave the company an “underweight” rating in a research note on Tuesday, October 29th. Keefe, Bruyette & Woods boosted their price target on shares of Bank of Hawaii from $67.00 to $74.00 and gave the company a “market perform” rating in a research report on Tuesday, October 29th. Barclays increased their price target on shares of Bank of Hawaii from $50.00 to $56.00 and gave the stock an “underweight” rating in a research note on Tuesday, October 29th. DA Davidson boosted their target price on Bank of Hawaii from $65.00 to $74.00 and gave the stock a “neutral” rating in a report on Tuesday, October 29th. Finally, Stephens began coverage on shares of Bank of Hawaii in a report on Wednesday. They set an “overweight” rating and a $90.00 price target on the stock. Three investment analysts have rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $69.00.

Bank of Hawaii Stock Performance

BOH opened at $78.98 on Friday. The firm has a fifty day moving average price of $70.69 and a 200 day moving average price of $64.90. 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 Co. has a 1 year low of $54.50 and a 1 year high of $82.70. The stock has a market cap of $3.14 billion, a P/E ratio of 23.72, a P/E/G ratio of 5.28 and a beta of 1.03.

Bank of Hawaii (NYSE:BOH) last announced its quarterly earnings data on Monday, October 28th. The bank reported $0.93 earnings per share for the quarter, beating analysts’ consensus estimates of $0.82 by $0.11. Bank of Hawaii had a return on equity of 11.33% and a net margin of 13.76%. The company had revenue of $265.76 million for the quarter, compared to analyst estimates of $160.29 million. During the same quarter last year, the firm posted $1.17 EPS. Equities research analysts anticipate that Bank of Hawaii Co. will post 3.52 earnings per share for the current year.

Bank of Hawaii Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 29th will be given a dividend of $0.70 per share. The ex-dividend date of this dividend is Friday, November 29th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.55%. Bank of Hawaii’s payout ratio is currently 84.08%.

Insider Activity

In related news, insider Matthew Emerson sold 1,355 shares of the business’s stock in a transaction on Wednesday, October 30th. The shares were sold at an average price of $72.27, for a total value of $97,925.85. Following the completion of the sale, the insider now directly owns 13,717 shares of the company’s stock, valued at $991,327.59. The trade was a 8.99 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 2.11% of the company’s stock.

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.