Proficio Capital Partners LLC Invests $736,000 in Bank of Hawaii Co. (NYSE:BOH)

Proficio Capital Partners LLC bought a new position in shares of Bank of Hawaii Co. (NYSE:BOH) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 10,330 shares of the bank’s stock, valued at approximately $736,000.

Several other institutional investors also recently bought and sold shares of the stock. State Street Corp boosted its position in shares of Bank of Hawaii by 5.0% during the 3rd quarter. State Street Corp now owns 2,244,649 shares of the bank’s stock valued at $140,897,000 after acquiring an additional 106,717 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in Bank of Hawaii by 4.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,571,512 shares of the bank’s stock valued at $111,955,000 after purchasing an additional 60,092 shares in the last quarter. Geode Capital Management LLC lifted its position in Bank of Hawaii by 1.2% during the third quarter. Geode Capital Management LLC now owns 908,303 shares of the bank’s stock valued at $57,025,000 after purchasing an additional 10,357 shares during the last quarter. Principal Financial Group Inc. grew its stake in shares of Bank of Hawaii by 2.9% in the 4th quarter. Principal Financial Group Inc. now owns 192,718 shares of the bank’s stock worth $13,729,000 after buying an additional 5,451 shares in the last quarter. Finally, Congress Asset Management Co. increased its holdings in shares of Bank of Hawaii by 108.6% in the 4th 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 last quarter. 82.18% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CAO Patrick M. Mcguirk sold 2,000 shares of the firm’s 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 sale, the chief accounting officer now directly owns 9,173 shares in the company, valued at $688,708.84. This trade represents a 17.90 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Taryn L. Salmon sold 449 shares of Bank of Hawaii stock in a transaction dated Thursday, January 30th. The shares were sold at an average price of $74.97, for a total value 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. This represents a 4.35 % decrease in their position. The disclosure for this sale can be found here. 2.11% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

BOH has been the subject of a number of recent research reports. Barclays lifted their target price on Bank of Hawaii from $56.00 to $66.00 and gave the stock an “underweight” rating in a report on Thursday, December 5th. Keefe, Bruyette & Woods boosted their price objective on shares of Bank of Hawaii from $74.00 to $81.00 and gave the company a “market perform” rating in a research report on Wednesday, December 4th. Piper Sandler raised their target price 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 initiated 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 on the stock. 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 research note on Tuesday, January 28th. Three analysts have rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $73.00.

Bank of Hawaii Price Performance

Shares of BOH opened at $68.25 on Friday. The company has a 50 day moving average of $71.39 and a two-hundred day moving average of $70.72. The company has a market cap of $2.72 billion, a price-to-earnings ratio of 19.72 and a beta of 1.01. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.42. 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 earnings results on Monday, January 27th. The bank reported $0.85 earnings per share (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%. As a group, analysts predict that Bank of Hawaii Co. will post 3.97 earnings per share for the current fiscal year.

Bank of Hawaii Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 28th were issued a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 4.10%. The ex-dividend date was Friday, February 28th. Bank of Hawaii’s payout ratio is 80.92%.

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.