Millennium Management LLC Acquires 295,101 Shares of Bank of Hawaii Corporation $BOH

Key Points

• Millennium Management LLC significantly increased its holdings in Bank of Hawaii Corporation by 295,101 shares, raising its ownership to 302,315 shares after a 4,090.7% boost during Q1.
• The quarterly dividend of $0.70 per share will be paid on September 15th, with a yield of 4.1% reflecting a payout ratio of 73.49%.
• Analysts have mixed opinions on Bank of Hawaii, with one buy rating, three holds, and a recent average price target of $75.00, despite Barclays rating it "underweight" with a price objective of $68.00.

Millennium Management LLC raised its stake in shares of Bank of Hawaii Corporation (NYSE:BOH - Free Report) by 4,090.7% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 302,315 shares of the bank's stock after purchasing an additional 295,101 shares during the quarter. Millennium Management LLC owned 0.76% of Bank of Hawaii worth $20,851,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also bought and sold shares of the company. Versant Capital Management Inc lifted its position in Bank of Hawaii by 80.2% during the first quarter. Versant Capital Management Inc now owns 391 shares of the bank's stock valued at $27,000 after purchasing an additional 174 shares during the last quarter. Private Trust Co. NA raised its stake in shares of Bank of Hawaii by 18,333.3% during 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. Golden State Wealth Management LLC raised its stake in shares of Bank of Hawaii by 110.5% during the first quarter. Golden State Wealth Management LLC now owns 581 shares of the bank's stock worth $40,000 after acquiring an additional 305 shares in the last quarter. Public Employees Retirement System of Ohio purchased a new position in shares of Bank of Hawaii during the fourth quarter worth approximately $49,000. Finally, CWM LLC raised its stake in shares of Bank of Hawaii by 31.9% during the first quarter. CWM LLC now owns 1,643 shares of the bank's stock worth $113,000 after acquiring an additional 397 shares in the last quarter. 82.18% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have commented on the stock. Piper Sandler assumed coverage on shares of Bank of Hawaii in a research note on Thursday, August 21st. They set a "neutral" rating and a $71.00 price target on the stock. Stephens decreased their price target on shares of Bank of Hawaii from $78.00 to $76.00 and set an "overweight" rating on the stock in a research note on Tuesday, July 29th. Finally, Barclays lifted their price target 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. One analyst has rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $75.00.

Bank of Hawaii Trading Down 1.3%

Shares of BOH traded down $0.86 during trading hours on Tuesday, reaching $65.76. 270,019 shares of the company traded hands, compared to its average volume of 419,594. The company's fifty day moving average price is $66.49 and its two-hundred day moving average price is $66.88. The company has a market capitalization of $2.62 billion, a price-to-earnings ratio of 17.26, a price-to-earnings-growth ratio of 0.88 and a beta of 0.84. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.40. Bank of Hawaii Corporation has a 12 month low of $57.44 and a 12 month 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 for the quarter, beating analysts' consensus estimates of $1.04 by $0.02. The firm had revenue of $174.48 million for the quarter, compared to analyst estimates of $177.82 million. Bank of Hawaii had a net margin of 16.30% and a return on equity of 12.67%. During the same quarter in the previous year, the firm posted $0.81 EPS. Equities research analysts predict that Bank of Hawaii Corporation will post 3.97 earnings per share for the current fiscal year.

Bank of Hawaii Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Friday, August 29th were paid a dividend of $0.70 per share. The ex-dividend date of this dividend was Friday, August 29th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 4.3%. Bank of Hawaii's payout ratio is presently 73.49%.

Bank of Hawaii 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.