HighTower Advisors LLC Raises Stake in Bank of Hawaii Co. (NYSE:BOH)

HighTower Advisors LLC lifted its position in Bank of Hawaii Co. (NYSE:BOH) by 3.5% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 23,655 shares of the bank’s stock after purchasing an additional 789 shares during the period. HighTower Advisors LLC owned about 0.06% of Bank of Hawaii worth $1,477,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of BOH. Victory Capital Management Inc. increased its stake in Bank of Hawaii by 13.1% in the 2nd quarter. Victory Capital Management Inc. now owns 1,634,909 shares of the bank’s stock worth $93,533,000 after buying an additional 189,878 shares in the last quarter. International Assets Investment Management LLC bought a new position in shares of Bank of Hawaii in the third quarter worth about $70,960,000. Dimensional Fund Advisors LP grew its position in shares of Bank of Hawaii by 14.2% during the second quarter. Dimensional Fund Advisors LP now owns 789,486 shares of the bank’s stock worth $45,167,000 after purchasing an additional 98,465 shares in the last quarter. American Century Companies Inc. raised its stake in Bank of Hawaii by 8.7% during the 2nd quarter. American Century Companies Inc. now owns 675,615 shares of the bank’s stock valued at $38,652,000 after purchasing an additional 54,078 shares during the period. Finally, Squarepoint Ops LLC purchased a new position in Bank of Hawaii in the 2nd quarter worth approximately $2,230,000. 82.18% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Bank of Hawaii news, insider Matthew Emerson sold 1,355 shares of the business’s stock in a transaction that occurred on Wednesday, October 30th. The stock was sold at an average price of $72.27, for a total transaction of $97,925.85. Following the completion of the transaction, the insider now owns 13,717 shares in the company, valued at $991,327.59. The trade was a 8.99 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 2.11% of the stock is owned by insiders.

Bank of Hawaii Stock Performance

Bank of Hawaii stock opened at $74.08 on Monday. The company’s 50-day moving average price is $73.41 and its 200-day moving average price is $66.26. 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 PE ratio of 22.25, a price-to-earnings-growth ratio of 4.86 and a beta of 1.03. 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 issued its quarterly earnings data on Monday, October 28th. The bank reported $0.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.82 by $0.11. The business had revenue of $265.76 million for the quarter, compared to the consensus estimate of $160.29 million. Bank of Hawaii had a return on equity of 11.33% and a net margin of 13.76%. During the same period in the prior year, the business posted $1.17 earnings per share. On average, equities research analysts forecast that Bank of Hawaii Co. will post 3.52 EPS for the current fiscal year.

Bank of Hawaii Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Barclays increased their price objective 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. Keefe, Bruyette & Woods raised their target price on shares of Bank of Hawaii from $74.00 to $81.00 and gave the company a “market perform” rating in a research note on Wednesday, December 4th. DA Davidson boosted their price target on shares of Bank of Hawaii from $65.00 to $74.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 29th. Piper Sandler raised their price objective on Bank of Hawaii from $61.00 to $66.00 and gave the company an “underweight” rating in a research report on Tuesday, October 29th. Finally, Stephens assumed coverage on Bank of Hawaii in a research report on Wednesday, November 27th. They issued an “overweight” rating and a $90.00 target price on the stock. Three research analysts have rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, Bank of Hawaii has a consensus rating of “Hold” and a consensus price target of $71.83.

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.