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

A number of other large investors have also made changes to their positions in BOH. 140 Summer Partners LP acquired a new stake in shares of Bank of Hawaii during the first quarter valued at $41,633,000. Kayne Anderson Rudnick Investment Management LLC boosted its stake in shares of Bank of Hawaii by 23.7% during the first quarter. Kayne Anderson Rudnick Investment Management LLC now owns 2,180,744 shares of the bank's stock valued at $150,406,000 after acquiring an additional 418,055 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Bank of Hawaii by 168.6% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 245,495 shares of the bank's stock valued at $17,489,000 after acquiring an additional 154,107 shares during the last quarter. Nuveen LLC acquired a new stake in shares of Bank of Hawaii during the first quarter valued at $7,066,000. Finally, Squarepoint Ops LLC lifted its position in Bank of Hawaii by 168.5% during the fourth quarter. Squarepoint Ops LLC now owns 121,053 shares of the bank's stock worth $8,624,000 after buying an additional 75,961 shares during the period. Institutional investors and hedge funds own 82.18% of the company's stock.

Analyst Upgrades and Downgrades

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

Bank of Hawaii Trading Up 1.6%

Shares of Bank of Hawaii stock traded up $1.08 during trading hours on Thursday, reaching $68.01. The stock had a trading volume of 950,539 shares, compared to its average volume of 332,381. The firm has a 50 day simple moving average of $66.29 and a two-hundred day simple moving average of $66.84. The firm has a market capitalization of $2.70 billion, a price-to-earnings ratio of 17.85, a P/E/G ratio of 0.86 and a beta of 0.84. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.40. Bank of Hawaii Corporation has a 1 year low of $57.44 and a 1 year high of $82.70.

Bank of Hawaii (NYSE:BOH - Get Free Report) last released its quarterly earnings data on Monday, July 28th. The bank reported $1.06 EPS for the quarter, topping analysts' consensus estimates of $1.04 by $0.02. The company had revenue of $174.48 million for the quarter, compared to the consensus estimate of $177.82 million. Bank of Hawaii had a return on equity of 12.67% and a net margin of 16.30%.During the same period last year, the business posted $0.81 EPS. As a group, equities research analysts anticipate that Bank of Hawaii Corporation will post 3.97 earnings per share for the current year.

Bank of Hawaii Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Friday, August 29th were issued a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a dividend yield of 4.1%. The ex-dividend date was Friday, August 29th. Bank of Hawaii's dividend payout ratio (DPR) is presently 73.49%.

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.