Ameriprise Financial Inc. Grows Stake in Bank of Hawaii Co. (NYSE:BOH)

Ameriprise Financial Inc. raised its position in Bank of Hawaii Co. (NYSE:BOH - Free Report) by 558.1% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 646,890 shares of the bank's stock after acquiring an additional 548,599 shares during the quarter. Ameriprise Financial Inc. owned approximately 1.63% of Bank of Hawaii worth $46,084,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. SBI Securities Co. Ltd. purchased a new stake in shares of Bank of Hawaii during the 4th quarter valued at about $50,000. Headlands Technologies LLC increased its holdings in Bank of Hawaii by 285.8% during the fourth quarter. Headlands Technologies LLC now owns 949 shares of the bank's stock valued at $68,000 after buying an additional 703 shares during the last quarter. CoreFirst Bank & Trust bought a new position in Bank of Hawaii in the fourth quarter worth approximately $70,000. Smartleaf Asset Management LLC boosted its stake in shares of Bank of Hawaii by 204.9% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,543 shares of the bank's stock worth $110,000 after acquiring an additional 1,037 shares during the last quarter. Finally, KBC Group NV grew its position in shares of Bank of Hawaii by 70.9% during the 4th 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 period. 82.18% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, insider Taryn L. Salmon sold 1,652 shares of the firm's stock in a transaction 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 transaction, the insider now directly owns 6,442 shares of the company's stock, valued at approximately $426,138.30. This trade represents a 20.41% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 2.07% of the company's stock.

Bank of Hawaii Price Performance

Shares of NYSE:BOH traded down $0.45 during trading on Tuesday, hitting $70.38. 288,796 shares of the company's stock were exchanged, compared to its average volume of 377,036. The business's 50-day simple moving average is $66.48 and its 200 day simple moving average is $71.12. The company has a market cap of $2.80 billion, a price-to-earnings ratio of 20.34 and a beta of 0.76. 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.

Bank of Hawaii (NYSE:BOH - Get Free Report) last posted its quarterly earnings results on Monday, April 21st. The bank reported $0.97 earnings per share for the quarter, topping the consensus estimate of $0.89 by $0.08. Bank of Hawaii had a return on equity of 11.81% and a net margin of 14.47%. The business had revenue of $169.87 million during the quarter, compared to the consensus estimate of $168.65 million. During the same period in the prior year, the company posted $0.87 EPS. As a group, equities analysts predict that Bank of Hawaii Co. will post 3.97 EPS for the current year.

Bank of Hawaii Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, June 13th. Shareholders of record on Friday, May 30th will be issued a $0.70 dividend. The ex-dividend date of this dividend is Friday, May 30th. This represents a $2.80 dividend on an annualized basis and a yield of 3.98%. Bank of Hawaii's dividend payout ratio is currently 78.65%.

Wall Street Analysts Forecast Growth

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

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.