Arizona State Retirement System Reduces Stock Position in Bank of Hawaii Co. (NYSE:BOH)

Arizona State Retirement System lessened its stake in shares of Bank of Hawaii Co. (NYSE:BOH) by 1.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 11,106 shares of the bank’s stock after selling 183 shares during the quarter. Arizona State Retirement System’s holdings in Bank of Hawaii were worth $805,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Bessemer Group Inc. boosted its holdings in shares of Bank of Hawaii by 160.9% during the 4th quarter. Bessemer Group Inc. now owns 647 shares of the bank’s stock valued at $50,000 after acquiring an additional 399 shares during the last quarter. Covestor Ltd boosted its holdings in shares of Bank of Hawaii by 72.4% during the 1st quarter. Covestor Ltd now owns 707 shares of the bank’s stock valued at $59,000 after acquiring an additional 297 shares during the last quarter. Point72 Hong Kong Ltd boosted its holdings in shares of Bank of Hawaii by 27.9% during the 1st quarter. Point72 Hong Kong Ltd now owns 710 shares of the bank’s stock valued at $60,000 after acquiring an additional 155 shares during the last quarter. Cullen Frost Bankers Inc. purchased a new stake in shares of Bank of Hawaii during the 3rd quarter valued at about $37,000. Finally, Allspring Global Investments Holdings LLC boosted its holdings in shares of Bank of Hawaii by 2,197.1% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 781 shares of the bank’s stock valued at $39,000 after acquiring an additional 747 shares during the last quarter. Hedge funds and other institutional investors own 82.18% of the company’s stock.

Analyst Upgrades and Downgrades

BOH has been the topic of a number of research reports. Jefferies Financial Group dropped their price objective on shares of Bank of Hawaii from $67.00 to $62.00 and set a “hold” rating on the stock in a report on Monday, April 8th. Barclays initiated coverage on shares of Bank of Hawaii in a report on Friday, March 8th. They set an “underweight” rating and a $51.00 price target on the stock. Keefe, Bruyette & Woods lowered their price target on shares of Bank of Hawaii from $57.00 to $55.00 and set an “underperform” rating on the stock in a report on Tuesday, January 23rd. Piper Sandler lowered their price target on shares of Bank of Hawaii from $70.00 to $69.00 and set a “neutral” rating on the stock in a report on Tuesday, January 23rd. Finally, StockNews.com raised shares of Bank of Hawaii to a “sell” rating in a report on Thursday, January 25th. Four analysts have rated the stock with a sell rating and two have assigned a hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Reduce” and a consensus target price of $53.60.

Bank of Hawaii Trading Down 0.5 %

Bank of Hawaii stock opened at $56.26 on Thursday. The stock has a market cap of $2.24 billion, a P/E ratio of 13.56, a PEG ratio of 1.96 and a beta of 1.06. 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 Co. has a 1 year low of $30.83 and a 1 year high of $75.19. The firm’s 50 day moving average price is $60.67 and its 200-day moving average price is $60.44.

Bank of Hawaii (NYSE:BOH) last released its quarterly earnings data on Monday, January 22nd. The bank reported $1.01 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.00 by $0.01. Bank of Hawaii had a net margin of 17.35% and a return on equity of 14.35%. The firm had revenue of $252.63 million for the quarter, compared to analysts’ expectations of $161.03 million. During the same quarter last year, the business posted $1.50 earnings per share. On average, equities analysts predict that Bank of Hawaii Co. will post 3.72 earnings per share for the current fiscal year.

Bank of Hawaii Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 14th. Investors of record on Thursday, February 29th were given a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 4.98%. The ex-dividend date of this dividend was Wednesday, February 28th. Bank of Hawaii’s dividend payout ratio is presently 67.47%.

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.