Rafferty Asset Management LLC Sells 8,058 Shares of Bank of Hawaii Co. (NYSE:BOH)

Rafferty Asset Management LLC reduced its holdings in Bank of Hawaii Co. (NYSE:BOH - Free Report) by 11.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 63,515 shares of the bank's stock after selling 8,058 shares during the period. Rafferty Asset Management LLC owned approximately 0.16% of Bank of Hawaii worth $4,525,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in BOH. Barclays PLC increased its position in Bank of Hawaii by 91.2% in the 3rd quarter. Barclays PLC now owns 93,504 shares of the bank's stock worth $5,870,000 after buying an additional 44,599 shares during the period. Cadinha & Co. LLC increased its position in Bank of Hawaii by 12.2% in the 4th quarter. Cadinha & Co. LLC now owns 3,893 shares of the bank's stock worth $277,000 after buying an additional 423 shares during the period. KBC Group NV increased its position in Bank of Hawaii by 70.9% in the 4th 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. Perigon Wealth Management LLC increased its position in Bank of Hawaii by 0.9% in the 4th quarter. Perigon Wealth Management LLC now owns 16,474 shares of the bank's stock worth $1,168,000 after buying an additional 154 shares during the period. Finally, Sippican Capital Advisors bought a new position in Bank of Hawaii in the 4th quarter worth approximately $215,000. 82.18% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Bank of Hawaii 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 value of $109,279.80. Following the transaction, the insider now directly owns 6,442 shares in the company, valued at $426,138.30. The trade was a 20.41% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 2.07% of the company's stock.

Bank of Hawaii Stock Performance

Shares of NYSE:BOH traded down $0.82 during trading on Friday, hitting $66.80. 412,610 shares of the stock were exchanged, compared to its average volume of 381,783. Bank of Hawaii Co. has a 1-year low of $54.50 and a 1-year high of $82.70. The company has a market capitalization of $2.65 billion, a price-to-earnings ratio of 19.30 and a beta of 0.76. The company's fifty day simple moving average is $66.63 and its 200-day simple moving average is $70.87. 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 announced its quarterly earnings data on Monday, April 21st. The bank reported $0.97 earnings per share for the quarter, topping the consensus estimate 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 quarter last year, the firm earned $0.87 EPS. Sell-side analysts expect that Bank of Hawaii Co. will post 3.97 EPS for the current fiscal year.

Bank of Hawaii Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, June 13th. Shareholders of record on Friday, May 30th will be given a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 4.19%. The ex-dividend date of this dividend is Friday, May 30th. Bank of Hawaii's dividend payout ratio (DPR) is 78.65%.

Wall Street Analyst Weigh In

Several research analysts have commented on the company. Piper Sandler lifted their price target on Bank of Hawaii from $66.00 to $68.00 and gave the stock an "underweight" rating in a research report on Tuesday, January 28th. Barclays lifted their price objective on Bank of Hawaii from $64.00 to $67.00 and gave the stock an "underweight" rating in a report on Tuesday, April 22nd. Finally, DA Davidson lifted their price objective on Bank of Hawaii from $75.00 to $79.00 and gave the stock a "neutral" rating in a report on Tuesday, January 28th. Three equities research analysts have rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $73.17.

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.