Bank of Hawaii Corporation $BOH Shares Acquired by Northwestern Mutual Wealth Management Co.

Key Points

• Northwestern Mutual Wealth Management Co. significantly increased its stake in Bank of Hawaii Corporation by 847.6%, owning 4,880 shares valued at approximately $337,000 as of the latest disclosure.
• Bank of Hawaii announced a quarterly dividend of $0.70 per share, which reflects a 4.2% yield based on an annualized rate of $2.80.
• Bank of Hawaii's stock has shown a slight gain of 0.6% recently, with its market capitalization standing at $2.68 billion and a price-to-earnings ratio of 17.68.

Northwestern Mutual Wealth Management Co. raised its position in Bank of Hawaii Corporation (NYSE:BOH - Free Report) by 847.6% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 4,880 shares of the bank's stock after acquiring an additional 4,365 shares during the quarter. Northwestern Mutual Wealth Management Co.'s holdings in Bank of Hawaii were worth $337,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Principal Financial Group Inc. grew its holdings in shares of Bank of Hawaii by 2.7% in the first quarter. Principal Financial Group Inc. now owns 197,888 shares of the bank's stock worth $13,648,000 after purchasing an additional 5,170 shares during the last quarter. Private Trust Co. NA boosted its holdings in Bank of Hawaii by 18,333.3% in the first quarter. Private Trust Co. NA now owns 553 shares of the bank's stock worth $38,000 after acquiring an additional 550 shares in the last quarter. Cambridge Investment Research Advisors Inc. lifted its holdings in shares of Bank of Hawaii by 41.9% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 11,625 shares of the bank's stock worth $802,000 after purchasing an additional 3,433 shares during the period. Oppenheimer Asset Management Inc. boosted its stake in shares of Bank of Hawaii by 12.4% in the first quarter. Oppenheimer Asset Management Inc. now owns 11,691 shares of the bank's stock worth $806,000 after acquiring an additional 1,291 shares during the last quarter. Finally, Golden State Wealth Management LLC increased its holdings in Bank of Hawaii by 110.5% during the 1st quarter. Golden State Wealth Management LLC now owns 581 shares of the bank's stock worth $40,000 after purchasing an additional 305 shares during the period. 82.18% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the stock. Stephens reduced their target price on shares of Bank of Hawaii from $78.00 to $76.00 and set an "overweight" rating for the company in a research note on Tuesday, July 29th. Barclays boosted their price objective on shares of Bank of Hawaii from $67.00 to $68.00 and gave the stock an "underweight" rating in a research note on Tuesday, July 8th. Finally, Piper Sandler assumed coverage on shares of Bank of Hawaii in a research report on Thursday, August 21st. They set a "neutral" rating and a $71.00 target price for the company. One equities research analyst has rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $75.00.

Bank of Hawaii Stock Down 0.4%

NYSE BOH traded down $0.28 on Monday, hitting $68.03. 92,748 shares of the stock were exchanged, compared to its average volume of 420,687. The company has a 50-day moving average price of $66.75 and a 200-day moving average price of $67.01. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.40. The company has a market cap of $2.71 billion, a PE ratio of 17.84, a PEG ratio of 0.88 and a beta of 0.84. Bank of Hawaii Corporation has a fifty-two week low of $57.44 and a fifty-two week high of $82.70.

Bank of Hawaii (NYSE:BOH - Get Free Report) last announced its earnings results on Monday, July 28th. The bank reported $1.06 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.04 by $0.02. Bank of Hawaii had a net margin of 16.30% and a return on equity of 12.67%. The firm had revenue of $174.48 million during the quarter, compared to analyst estimates of $177.82 million. During the same quarter in the prior year, the firm posted $0.81 EPS. Sell-side analysts anticipate that Bank of Hawaii Corporation will post 3.97 EPS for the current fiscal year.

Bank of Hawaii Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Friday, August 29th will be issued a dividend of $0.70 per share. The ex-dividend date of this dividend is Friday, August 29th. This represents a $2.80 dividend on an annualized basis and a yield of 4.1%. Bank of Hawaii's dividend payout ratio is 73.49%.

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.