First Hawaiian Bank Increases Stock Holdings in Bank of Hawaii Co. (NYSE:BOH)

First Hawaiian Bank lifted its stake in shares of Bank of Hawaii Co. (NYSE:BOH) by 1.6% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 73,788 shares of the bank’s stock after buying an additional 1,196 shares during the period. First Hawaiian Bank owned about 0.19% of Bank of Hawaii worth $4,604,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the stock. TFO Wealth Partners LLC grew its stake in shares of Bank of Hawaii by 9,660.0% during the 4th quarter. TFO Wealth Partners LLC now owns 488 shares of the bank’s stock worth $362,000 after acquiring an additional 483 shares during the period. GAMMA Investing LLC bought a new position in shares of Bank of Hawaii during the 4th quarter worth $41,000. Quest Partners LLC bought a new position in shares of Bank of Hawaii during the 4th quarter worth $41,000. Strs Ohio bought a new position in shares of Bank of Hawaii during the 4th quarter worth $50,000. Finally, Covestor Ltd grew its stake in shares of Bank of Hawaii by 17.1% during the 3rd quarter. Covestor Ltd now owns 1,429 shares of the bank’s stock worth $71,000 after acquiring an additional 209 shares during the period. Hedge funds and other institutional investors own 82.18% of the company’s stock.

Bank of Hawaii Price Performance

Shares of NYSE:BOH traded up $0.35 on Wednesday, hitting $57.44. The company’s stock had a trading volume of 529,044 shares, compared to its average volume of 247,156. The company has a 50-day simple moving average of $57.86 and a 200 day simple moving average of $62.29. Bank of Hawaii Co. has a 1 year low of $39.02 and a 1 year high of $75.19. The company has a market capitalization of $2.28 billion, a PE ratio of 14.80 and a beta of 1.07. The company has a debt-to-equity ratio of 0.45, a current ratio of 0.70 and a quick ratio of 0.70.

Bank of Hawaii (NYSE:BOH) last announced its quarterly earnings data on Friday, April 26th. The bank reported $0.87 earnings per share for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.05). The firm had revenue of $252.64 million for the quarter, compared to analysts’ expectations of $160.79 million. Bank of Hawaii had a net margin of 15.91% and a return on equity of 13.25%. During the same period in the prior year, the business posted $1.14 earnings per share. Sell-side analysts forecast that Bank of Hawaii Co. will post 3.5 EPS for the current fiscal year.

Bank of Hawaii Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 14th. Investors of record on Friday, May 31st were given a dividend of $0.70 per share. The ex-dividend date of this dividend was Friday, May 31st. This represents a $2.80 annualized dividend and a yield of 4.87%. Bank of Hawaii’s payout ratio is 72.16%.

Analyst Ratings Changes

Several research firms have recently weighed in on BOH. Jefferies Financial Group cut their price target on Bank of Hawaii from $67.00 to $62.00 and set a “hold” rating for the company in a research note on Monday, April 8th. Keefe, Bruyette & Woods raised their target price on Bank of Hawaii from $55.00 to $58.00 and gave the stock an “underperform” rating in a research note on Tuesday, April 23rd. Barclays cut their target price on Bank of Hawaii from $51.00 to $50.00 and set an “underweight” rating for the company in a research note on Tuesday, April 23rd. StockNews.com upgraded Bank of Hawaii to a “sell” rating in a research note on Thursday, May 30th. Finally, Piper Sandler cut their target price on Bank of Hawaii from $65.00 to $60.00 and set a “neutral” rating for the company in a research note on Tuesday, April 23rd. Three research analysts have rated the stock with a sell rating and two have given a hold rating to the company’s stock. Based on data from MarketBeat, Bank of Hawaii currently has an average rating of “Reduce” and an average target price of $57.50.

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.