Illinois Municipal Retirement Fund Sells 2,636 Shares of Bank of Hawaii Co. (NYSE:BOH)

Illinois Municipal Retirement Fund decreased its holdings in Bank of Hawaii Co. (NYSE:BOH) by 10.9% during the 4th quarter, HoldingsChannel.com reports. The firm owned 21,611 shares of the bank’s stock after selling 2,636 shares during the period. Illinois Municipal Retirement Fund’s holdings in Bank of Hawaii were worth $1,566,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Cullen Frost Bankers Inc. acquired a new stake in shares of Bank of Hawaii in the third quarter valued at about $37,000. IFP Advisors Inc acquired a new stake in Bank of Hawaii during the 3rd quarter valued at approximately $39,000. Allspring Global Investments Holdings LLC raised its holdings in 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 worth $39,000 after purchasing an additional 747 shares during the last quarter. Strs Ohio acquired a new position in shares of Bank of Hawaii in the 4th quarter worth approximately $50,000. Finally, Covestor Ltd boosted its stake in shares of Bank of Hawaii by 17.1% in the 3rd quarter. Covestor Ltd now owns 1,429 shares of the bank’s stock valued at $71,000 after purchasing an additional 209 shares during the last quarter. 82.18% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. StockNews.com raised shares of Bank of Hawaii to a “sell” rating in a research note on Thursday, January 25th. Jefferies Financial Group decreased their price target on Bank of Hawaii from $67.00 to $62.00 and set a “hold” rating for the company in a report on Monday, April 8th. Keefe, Bruyette & Woods boosted their price objective on Bank of Hawaii from $55.00 to $58.00 and gave the company an “underperform” rating in a research note on Tuesday. Piper Sandler decreased 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. Finally, Barclays dropped their price target on Bank of Hawaii from $51.00 to $50.00 and set an “underweight” rating on the stock in a research note on Tuesday. Four research analysts have rated the stock with a sell rating and two have given a hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Reduce” and an average target price of $52.20.

Bank of Hawaii Price Performance

Shares of NYSE BOH opened at $58.60 on Friday. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.45. The firm’s 50-day moving average price is $60.22 and its 200-day moving average price is $60.85. The firm has a market capitalization of $2.33 billion, a P/E ratio of 15.10, a P/E/G ratio of 2.05 and a beta of 1.06. Bank of Hawaii Co. has a 1-year low of $30.83 and a 1-year high of $75.19.

Bank of Hawaii (NYSE:BOH) last posted its quarterly earnings results 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). Bank of Hawaii had a return on equity of 13.25% and a net margin of 15.91%. The firm had revenue of $252.64 million for the quarter, compared to analyst estimates of $160.79 million. During the same period last year, the company posted $1.14 earnings per share. Equities research analysts anticipate that Bank of Hawaii Co. will post 3.6 earnings per share for the current fiscal year.

Bank of Hawaii Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, June 14th. Investors of record on Friday, May 31st will be issued a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 4.78%. The ex-dividend date of this dividend is Thursday, May 30th. Bank of Hawaii’s dividend payout ratio is currently 72.16%.

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.