Bank of America Corp DE Raises Holdings in Bank of Hawaii Co. (NYSE:BOH)

Bank of America Corp DE grew its stake in shares of Bank of Hawaii Co. (NYSE:BOH - Free Report) by 24.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 148,701 shares of the bank's stock after buying an additional 29,272 shares during the quarter. Bank of America Corp DE owned 0.37% of Bank of Hawaii worth $10,593,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of BOH. SBI Securities Co. Ltd. bought a new position in Bank of Hawaii during the 4th quarter worth approximately $50,000. Headlands Technologies LLC boosted its stake in shares of 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 purchasing an additional 703 shares during the period. CoreFirst Bank & Trust bought a new position in shares of Bank of Hawaii in the fourth quarter worth approximately $70,000. Smartleaf Asset Management LLC increased its stake in shares of Bank of Hawaii by 204.9% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,543 shares of the bank's stock worth $110,000 after buying an additional 1,037 shares during the period. Finally, KBC Group NV increased its stake in shares of Bank of Hawaii by 70.9% in the fourth quarter. KBC Group NV now owns 1,957 shares of the bank's stock worth $139,000 after buying an additional 812 shares during the period. Hedge funds and other institutional investors own 82.18% of the company's stock.

Bank of Hawaii Trading Up 1.5%

Shares of NYSE:BOH traded up $0.97 on Tuesday, hitting $67.86. The company had a trading volume of 204,334 shares, compared to its average volume of 381,073. The firm's 50-day simple moving average is $66.60 and its two-hundred day simple moving average is $70.74. The firm has a market capitalization of $2.70 billion, a price-to-earnings ratio of 19.61 and a beta of 0.76. 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 1 year low of $54.50 and a 1 year high of $82.70.

Bank of Hawaii (NYSE:BOH - Get Free Report) last released its quarterly earnings results on Monday, April 21st. The bank reported $0.97 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.89 by $0.08. The company had revenue of $169.87 million during the quarter, compared to the consensus estimate 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 in the prior year, the firm earned $0.87 earnings per share. Equities analysts anticipate that Bank of Hawaii Co. will post 3.97 earnings per share for the current fiscal year.

Bank of Hawaii Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 13th. Investors of record on Friday, May 30th will be given a dividend of $0.70 per share. The ex-dividend date of this dividend is Friday, May 30th. This represents a $2.80 annualized dividend and a dividend yield of 4.13%. Bank of Hawaii's dividend payout ratio is presently 78.65%.

Insider Activity at Bank of Hawaii

In related news, insider Taryn L. Salmon sold 1,652 shares of the business's stock in a transaction dated Thursday, April 24th. The shares were sold at an average price of $66.15, for a total transaction of $109,279.80. Following the sale, the insider now owns 6,442 shares of the company's stock, valued at $426,138.30. The trade was a 20.41% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 2.07% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on BOH. Barclays raised their price target on shares of Bank of Hawaii from $64.00 to $67.00 and gave the stock an "underweight" rating in a report on Tuesday, April 22nd. Piper Sandler increased 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. Finally, DA Davidson raised their target price on 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 research analysts have rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company. According to data from MarketBeat, the stock presently has an average 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.