Raymond James Financial Inc. Invests $900,000 in Bank of Hawaii Co. (NYSE:BOH)

Raymond James Financial Inc. purchased a new stake in shares of Bank of Hawaii Co. (NYSE:BOH) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 12,636 shares of the bank’s stock, valued at approximately $900,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in BOH. SBI Securities Co. Ltd. acquired a new position in Bank of Hawaii during the 4th quarter valued at about $50,000. Smartleaf Asset Management LLC boosted its stake in Bank of Hawaii by 204.9% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,543 shares of the bank’s stock valued at $110,000 after acquiring an additional 1,037 shares during the last quarter. KBC Group NV boosted its stake in Bank of Hawaii by 70.9% in the fourth quarter. KBC Group NV now owns 1,957 shares of the bank’s stock valued at $139,000 after acquiring an additional 812 shares during the last quarter. Trust Point Inc. bought a new stake in shares of Bank of Hawaii during the 4th quarter valued at $204,000. Finally, Choreo LLC bought a new stake in shares of Bank of Hawaii during the 4th quarter valued at $205,000. 82.18% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Bank of Hawaii

In related news, CAO Patrick M. Mcguirk sold 2,000 shares of Bank of Hawaii stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $75.08, for a total value of $150,160.00. Following the sale, the chief accounting officer now owns 9,173 shares of the company’s stock, valued at approximately $688,708.84. This trade represents a 17.90 % decrease in their position. 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 firm’s stock in a transaction that occurred 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 transaction, the insider now directly owns 9,880 shares of the company’s stock, valued at $740,703.60. This represents a 4.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.07% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

BOH has been the topic of several recent research reports. DA Davidson raised their price target on Bank of Hawaii from $75.00 to $79.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 28th. Piper Sandler upped their price target on Bank of Hawaii from $66.00 to $68.00 and gave the company an “underweight” rating in a research note on Tuesday, January 28th. Three 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. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $73.00.

Bank of Hawaii Stock Down 5.3 %

NYSE:BOH opened at $61.44 on Friday. Bank of Hawaii Co. has a 1 year low of $54.50 and a 1 year high of $82.70. The stock has a 50-day moving average price of $70.87 and a two-hundred day moving average price of $70.96. The stock has a market cap of $2.44 billion, a price-to-earnings ratio of 17.76 and a beta of 0.87. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.42.

Bank of Hawaii (NYSE:BOH) last issued its quarterly earnings data 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, equities analysts expect that Bank of Hawaii Co. will post 3.97 earnings per share for the current year.

Bank of Hawaii Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 28th were issued a dividend of $0.70 per share. The ex-dividend date of this dividend was Friday, February 28th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 4.56%. Bank of Hawaii’s payout ratio is 80.92%.

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.