Bank of America Corp DE Purchases 29,272 Shares of Bank of Hawaii Co. (NYSE:BOH)

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

A number of other large investors have also added to or reduced their stakes in BOH. Algert Global LLC bought a new position in shares of Bank of Hawaii during the 4th quarter valued at approximately $257,000. Ameriprise Financial Inc. raised its holdings in shares of Bank of Hawaii by 558.1% in the 4th quarter. Ameriprise Financial Inc. now owns 646,890 shares of the bank's stock worth $46,084,000 after purchasing an additional 548,599 shares during the period. Mercer Global Advisors Inc. ADV purchased a new position in Bank of Hawaii in the fourth quarter valued at approximately $832,000. Freestone Grove Partners LP bought a new position in Bank of Hawaii during the fourth quarter valued at $13,678,000. Finally, Northern Trust Corp increased its position in Bank of Hawaii by 9.2% in the fourth quarter. Northern Trust Corp now owns 440,635 shares of the bank's stock worth $31,391,000 after buying an additional 37,078 shares during the last quarter. Hedge funds and other institutional investors own 82.18% of the company's stock.

Insider Activity

In related news, insider Taryn L. Salmon sold 1,652 shares of the stock in a transaction on Thursday, April 24th. The stock was sold at an average price of $66.15, for a total value of $109,279.80. Following the sale, the insider now owns 6,442 shares in the company, valued at approximately $426,138.30. This trade represents a 20.41% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 2.07% of the stock is owned by company insiders.

Analysts Set New Price Targets

Separately, Barclays upped their price target on Bank of Hawaii from $64.00 to $67.00 and gave the company an "underweight" rating in a research report on Tuesday, April 22nd. Three investment analysts have rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Hold" and an average target price of $73.17.

Bank of Hawaii Stock Performance

BOH stock traded up $0.67 during midday trading on Thursday, reaching $67.38. 345,364 shares of the company's stock traded hands, compared to its average volume of 381,389. The firm has a market capitalization of $2.68 billion, a PE ratio of 19.47 and a beta of 0.76. The company has a 50-day moving average price of $66.51 and a two-hundred day moving average price of $70.61. Bank of Hawaii Co. has a 52 week low of $54.98 and a 52 week high of $82.70. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.71 and a current ratio of 0.71.

Bank of Hawaii (NYSE:BOH - Get Free Report) last released its quarterly earnings data on Monday, April 21st. The bank reported $0.97 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 company had revenue of $169.87 million for the quarter, compared to analyst estimates of $168.65 million. During the same period in the previous year, the company posted $0.87 EPS. As a group, equities analysts anticipate that Bank of Hawaii Co. will post 3.97 EPS for the current year.

Bank of Hawaii Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, June 13th. Stockholders of record on Friday, May 30th will be issued a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 4.16%. 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.