Balyasny Asset Management L.P. Takes Position in Bank of Hawaii Co. (NYSE:BOH)

Balyasny Asset Management L.P. acquired a new position in shares of Bank of Hawaii Co. (NYSE:BOH - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 762,336 shares of the bank's stock, valued at approximately $54,309,000. Balyasny Asset Management L.P. owned approximately 1.92% of Bank of Hawaii as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also added to or reduced their stakes in the stock. Swiss National Bank boosted its position in shares of Bank of Hawaii by 0.8% in the fourth quarter. Swiss National Bank now owns 78,137 shares of the bank's stock valued at $5,566,000 after acquiring an additional 600 shares during the period. JPMorgan Chase & Co. lifted its stake in Bank of Hawaii by 188.8% in the 4th quarter. JPMorgan Chase & Co. now owns 250,094 shares of the bank's stock worth $17,817,000 after purchasing an additional 163,503 shares in the last quarter. Principal Financial Group Inc. boosted its holdings in Bank of Hawaii by 2.9% in the 4th quarter. Principal Financial Group Inc. now owns 192,718 shares of the bank's stock valued at $13,729,000 after purchasing an additional 5,451 shares during the period. Barclays PLC grew its position in shares of Bank of Hawaii by 91.2% during the 3rd quarter. Barclays PLC now owns 93,504 shares of the bank's stock valued at $5,870,000 after purchasing an additional 44,599 shares in the last quarter. Finally, Norges Bank bought a new position in shares of Bank of Hawaii in the fourth quarter worth $27,495,000. Institutional investors own 82.18% of the company's stock.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling at Bank of Hawaii

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

Bank of Hawaii Price Performance

Shares of Bank of Hawaii stock opened at $68.31 on Monday. The firm has a market capitalization of $2.71 billion, a PE ratio of 19.74 and a beta of 0.76. 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 Co. has a 12 month low of $54.50 and a 12 month high of $82.70. The business's 50-day moving average price is $66.77 and its 200-day moving average price is $71.01.

Bank of Hawaii (NYSE:BOH - Get Free Report) last issued its quarterly earnings results on Monday, April 21st. The bank reported $0.97 EPS for the quarter, beating analysts' consensus estimates of $0.89 by $0.08. The business had revenue of $169.87 million for the quarter, compared to analysts' expectations of $168.65 million. Bank of Hawaii had a net margin of 14.47% and a return on equity of 11.81%. During the same period last year, the business earned $0.87 earnings per share. Sell-side analysts forecast that Bank of Hawaii Co. will post 3.97 EPS for the current fiscal year.

Bank of Hawaii Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 13th. Shareholders of record on Friday, May 30th will be paid a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 4.10%. The ex-dividend date of this dividend is Friday, May 30th. Bank of Hawaii's dividend payout ratio is presently 78.65%.

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.

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