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

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

A number of other institutional investors have also added to or reduced their stakes in BOH. Barclays PLC lifted its holdings in Bank of Hawaii by 91.2% during the 3rd quarter. Barclays PLC now owns 93,504 shares of the bank's stock worth $5,870,000 after purchasing an additional 44,599 shares in the last quarter. Cadinha & Co. LLC lifted its holdings in Bank of Hawaii by 12.2% during the 4th quarter. Cadinha & Co. LLC now owns 3,893 shares of the bank's stock worth $277,000 after purchasing an additional 423 shares in the last quarter. KBC Group NV lifted its holdings in Bank of Hawaii by 70.9% during the 4th quarter. KBC Group NV now owns 1,957 shares of the bank's stock worth $139,000 after purchasing an additional 812 shares in the last quarter. Perigon Wealth Management LLC lifted its holdings in Bank of Hawaii by 0.9% during the 4th quarter. Perigon Wealth Management LLC now owns 16,474 shares of the bank's stock worth $1,168,000 after purchasing an additional 154 shares in the last quarter. Finally, Sippican Capital Advisors purchased a new stake in Bank of Hawaii during the 4th quarter worth about $215,000. Hedge funds and other institutional investors own 82.18% of the company's stock.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. Barclays increased 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. DA Davidson increased 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. Finally, Piper Sandler raised their price target on Bank of Hawaii from $66.00 to $68.00 and gave the company an "underweight" rating in a report on Tuesday, January 28th. Three investment analysts have rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company. According to data from MarketBeat, Bank of Hawaii has a consensus rating of "Hold" and a consensus target price of $73.17.

Bank of Hawaii Stock Performance

NYSE:BOH opened at $69.98 on Monday. The business's 50-day moving average price is $66.56 and its two-hundred day moving average price is $71.06. Bank of Hawaii Co. has a twelve month low of $54.50 and a twelve month high of $82.70. The stock has a market cap of $2.78 billion, a P/E ratio of 20.23 and a beta of 0.76. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.42.

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, beating analysts' consensus estimates of $0.89 by $0.08. The company had revenue of $169.87 million for the quarter, compared to analysts' expectations of $168.65 million. Bank of Hawaii had a return on equity of 11.81% and a net margin of 14.47%. During the same period last year, the firm posted $0.87 EPS. As a group, equities analysts predict that Bank of Hawaii Co. will post 3.97 EPS for the current fiscal year.

Bank of Hawaii Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 13th. Investors of record on Friday, May 30th will be issued a dividend of $0.70 per share. The ex-dividend date is Friday, May 30th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 4.00%. Bank of Hawaii's dividend payout ratio is 78.65%.

Insider Activity at Bank of Hawaii

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

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.

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