Raymond James Financial Inc. Invests $900,000 in Bank of Hawaii Co. (NYSE:BOH)

Raymond James Financial Inc. bought a new stake in Bank of Hawaii Co. (NYSE:BOH - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 12,636 shares of the bank's stock, valued at approximately $900,000.

A number of other institutional investors and hedge funds have also bought and sold shares of BOH. Perigon Wealth Management LLC grew its position in Bank of Hawaii by 0.9% during the fourth quarter. Perigon Wealth Management LLC now owns 16,474 shares of the bank's stock valued at $1,168,000 after acquiring an additional 154 shares during the last quarter. Bank of Montreal Can grew its position in Bank of Hawaii by 5.9% during the fourth quarter. Bank of Montreal Can now owns 4,592 shares of the bank's stock valued at $327,000 after acquiring an additional 254 shares during the last quarter. Illinois Municipal Retirement Fund grew its position in Bank of Hawaii by 1.5% during the fourth quarter. Illinois Municipal Retirement Fund now owns 22,060 shares of the bank's stock valued at $1,572,000 after acquiring an additional 324 shares during the last quarter. Cadinha & Co. LLC grew its position in Bank of Hawaii by 12.2% during the fourth quarter. Cadinha & Co. LLC now owns 3,893 shares of the bank's stock valued at $277,000 after acquiring an additional 423 shares during the last quarter. Finally, Swiss National Bank grew its position in 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 acquiring an additional 600 shares during the last quarter. 82.18% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. Barclays raised their target price on shares of Bank of Hawaii from $64.00 to $67.00 and gave the stock an "underweight" rating in a report on Tuesday, April 22nd. Piper Sandler raised their target price on shares of Bank of Hawaii from $66.00 to $68.00 and gave the stock an "underweight" rating in a report on Tuesday, January 28th. Finally, DA Davidson raised their target price on shares of Bank of Hawaii from $75.00 to $79.00 and gave the stock a "neutral" rating in a report on Tuesday, January 28th. Three research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company's stock. According to MarketBeat, Bank of Hawaii currently has an average rating of "Hold" and an average price target of $73.17.

Bank of Hawaii Stock Performance

Shares of Bank of Hawaii stock traded down $0.31 during trading hours on Friday, reaching $68.09. 569,795 shares of the stock traded hands, compared to its average volume of 376,309. The company has a 50 day moving average price of $66.43 and a 200 day moving average price of $71.09. The firm has a market capitalization of $2.71 billion, a price-to-earnings ratio of 19.68 and a beta of 0.76. Bank of Hawaii Co. has a one year low of $54.50 and a one year high of $82.70. 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 (EPS) for the quarter, beating analysts' consensus estimates of $0.89 by $0.08. The company had revenue of $169.87 million during the quarter, compared to the consensus estimate 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 in the previous year, the company posted $0.87 EPS. On average, equities research analysts expect that Bank of Hawaii Co. will post 3.97 earnings per share for the current fiscal year.

Bank of Hawaii Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 13th. Investors of record on Friday, May 30th will be issued a $0.70 dividend. The ex-dividend date of this dividend is Friday, May 30th. This represents a $2.80 dividend on an annualized basis and a yield of 4.11%. Bank of Hawaii's dividend payout ratio is presently 78.65%.

Insider Buying and Selling

In other news, insider Taryn L. Salmon sold 1,652 shares of the company'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 transaction 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. This represents a 20.41% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 2.07% of the stock is owned by insiders.

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.