Freestone Grove Partners LP Makes New $13.68 Million Investment in Bank of Hawaii Co. (NYSE:BOH)

Freestone Grove Partners LP bought a new position in Bank of Hawaii Co. (NYSE:BOH - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor bought 191,998 shares of the bank's stock, valued at approximately $13,678,000. Freestone Grove Partners LP owned 0.48% of Bank of Hawaii as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently modified their holdings of BOH. Swiss National Bank increased its stake in shares of Bank of Hawaii by 0.8% during the fourth quarter. Swiss National Bank now owns 78,137 shares of the bank's stock valued at $5,566,000 after buying an additional 600 shares during the period. JPMorgan Chase & Co. boosted its stake in shares of Bank of Hawaii by 188.8% during the 4th quarter. JPMorgan Chase & Co. now owns 250,094 shares of the bank's stock worth $17,817,000 after acquiring an additional 163,503 shares in the last quarter. Principal Financial Group Inc. boosted its stake in shares of Bank of Hawaii by 2.9% in the fourth quarter. Principal Financial Group Inc. now owns 192,718 shares of the bank's stock worth $13,729,000 after acquiring an additional 5,451 shares during the last quarter. Barclays PLC boosted its holdings in shares of 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 during the last quarter. Finally, Norges Bank acquired a new position in shares of Bank of Hawaii during the 4th quarter valued at about $27,495,000. Institutional investors own 82.18% of the company's stock.

Bank of Hawaii Stock Performance

Shares of NYSE BOH traded up $0.23 during mid-day trading on Wednesday, reaching $68.04. 42,399 shares of the company were exchanged, compared to its average volume of 369,903. The company's 50-day simple moving average is $66.64 and its 200-day simple moving average is $71.00. The stock has a market capitalization of $2.70 billion, a P/E ratio of 19.69 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 Co. has a twelve month low of $54.50 and a twelve month high of $82.70.

Bank of Hawaii (NYSE:BOH - Get Free Report) last released 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. Bank of Hawaii had a net margin of 14.47% and a return on equity of 11.81%. The firm had revenue of $169.87 million for the quarter, compared to analyst estimates of $168.65 million. During the same period last year, the firm earned $0.87 earnings per share. As a group, research analysts predict that Bank of Hawaii Co. will post 3.97 earnings per share for the current year.

Bank of Hawaii Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 13th. Stockholders of record on Friday, May 30th will be paid a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 4.12%. The ex-dividend date is Friday, May 30th. Bank of Hawaii's dividend payout ratio (DPR) is presently 78.65%.

Insider Activity at Bank of Hawaii

In other news, insider Taryn L. Salmon sold 1,652 shares of the business's stock in a transaction that occurred on Thursday, April 24th. The stock was sold at an average price of $66.15, for a total value of $109,279.80. Following the sale, the insider now directly owns 6,442 shares of the company's stock, valued at $426,138.30. The trade was a 20.41 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 2.07% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on BOH shares. DA Davidson raised their price target on Bank of Hawaii from $75.00 to $79.00 and gave the company a "neutral" rating in a research note on Tuesday, January 28th. Barclays increased their target price on Bank of Hawaii from $64.00 to $67.00 and gave the company an "underweight" rating in a report on Tuesday, April 22nd. Finally, Piper Sandler increased their target price 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. Three 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's stock. Based on data from MarketBeat, Bank of Hawaii currently has a consensus rating of "Hold" and an average price target of $73.17.

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.