Algert Global LLC Acquires New Shares in Bank of Hawaii Co. (NYSE:BOH)

Algert Global LLC bought a new position in Bank of Hawaii Co. (NYSE:BOH - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 3,604 shares of the bank's stock, valued at approximately $257,000.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Perigon Wealth Management LLC increased its holdings in Bank of Hawaii by 0.9% during the 4th quarter. Perigon Wealth Management LLC now owns 16,474 shares of the bank's stock worth $1,168,000 after purchasing an additional 154 shares during the last quarter. Mariner LLC raised its position in shares of Bank of Hawaii by 1.7% during the 4th quarter. Mariner LLC now owns 9,076 shares of the bank's stock worth $647,000 after purchasing an additional 154 shares during the period. Bank of Montreal Can lifted its stake in Bank of Hawaii by 5.9% in the fourth quarter. Bank of Montreal Can now owns 4,592 shares of the bank's stock valued at $327,000 after buying an additional 254 shares during the last quarter. Summit Investment Advisors Inc. lifted its stake in Bank of Hawaii by 6.8% in the fourth quarter. Summit Investment Advisors Inc. now owns 4,089 shares of the bank's stock valued at $291,000 after buying an additional 260 shares during the last quarter. Finally, Illinois Municipal Retirement Fund boosted its holdings in shares of Bank of Hawaii by 1.5% during the fourth quarter. Illinois Municipal Retirement Fund now owns 22,060 shares of the bank's stock valued at $1,572,000 after acquiring an additional 324 shares during the period. 82.18% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

BOH has been the subject of a number of analyst reports. Piper Sandler boosted their target price on shares of Bank of Hawaii from $66.00 to $68.00 and gave the company an "underweight" rating in a research note on Tuesday, January 28th. Barclays increased their price objective on Bank of Hawaii from $64.00 to $67.00 and gave the stock an "underweight" rating in a report on Tuesday, April 22nd. Finally, DA Davidson lifted their target price on Bank of Hawaii from $75.00 to $79.00 and gave the company a "neutral" rating in a research note on Tuesday, January 28th. Three analysts have rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $73.17.

Insider Buying and Selling

In related news, insider Taryn L. Salmon sold 1,652 shares of the company's stock in a transaction that occurred on Thursday, April 24th. The shares were sold at an average price of $66.15, for a total value of $109,279.80. Following the completion of the sale, the insider now owns 6,442 shares in the company, valued at approximately $426,138.30. This represents a 20.41% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.07% of the stock is currently owned by insiders.

Bank of Hawaii Price Performance

Shares of Bank of Hawaii stock traded down $0.07 on Friday, hitting $69.98. The company had a trading volume of 352,592 shares, compared to its average volume of 379,300. Bank of Hawaii Co. has a 52 week low of $54.50 and a 52 week high of $82.70. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.71 and a quick ratio of 0.71. The company has a market cap of $2.78 billion, a PE ratio of 20.23 and a beta of 0.76. The business has a 50-day simple moving average of $66.56 and a 200-day simple moving average of $71.06.

Bank of Hawaii (NYSE:BOH - Get Free Report) last posted its quarterly earnings data on Monday, April 21st. The bank reported $0.97 EPS for the quarter, topping analysts' consensus estimates of $0.89 by $0.08. The company had revenue of $169.87 million for the quarter, compared to the consensus estimate of $168.65 million. Bank of Hawaii had a return on equity of 11.81% and a net margin of 14.47%. During the same quarter in the previous year, the business earned $0.87 EPS. Research analysts expect that Bank of Hawaii Co. will post 3.97 EPS for the current fiscal year.

Bank of Hawaii Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 13th. Investors of record on Friday, May 30th will be issued a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 4.00%. The ex-dividend date of this dividend is Friday, May 30th. Bank of Hawaii's payout ratio is 78.65%.

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.