Quest Partners LLC Takes Position in Bank of Hawaii Co. (NYSE:BOH)

Quest Partners LLC bought a new position in Bank of Hawaii Co. (NYSE:BOH) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 29,037 shares of the bank’s stock, valued at approximately $1,823,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Oppenheimer Asset Management Inc. lifted its position in Bank of Hawaii by 43.0% in the 3rd quarter. Oppenheimer Asset Management Inc. now owns 8,309 shares of the bank’s stock worth $522,000 after buying an additional 2,500 shares in the last quarter. GSA Capital Partners LLP boosted its holdings in Bank of Hawaii by 284.3% during the third quarter. GSA Capital Partners LLP now owns 20,885 shares of the bank’s stock valued at $1,311,000 after acquiring an additional 15,450 shares during the period. Crestwood Advisors Group LLC acquired a new stake in shares of Bank of Hawaii in the third quarter worth $207,000. Congress Asset Management Co. increased its stake in Bank of Hawaii by 30.5% during the third quarter. Congress Asset Management Co. now owns 61,134 shares of the bank’s stock valued at $3,837,000 after acquiring an additional 14,286 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Bank of Hawaii by 11.9% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 24,205 shares of the bank’s stock valued at $1,511,000 after buying an additional 2,566 shares in the last quarter. 82.18% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on BOH shares. Barclays upped their price objective on shares of Bank of Hawaii from $50.00 to $56.00 and gave the stock an “underweight” rating in a research note on Tuesday, October 29th. Piper Sandler raised their price objective on Bank of Hawaii from $61.00 to $66.00 and gave the stock an “underweight” rating in a research note on Tuesday, October 29th. DA Davidson lifted their price target on shares of Bank of Hawaii from $65.00 to $74.00 and gave the company a “neutral” rating in a research note on Tuesday, October 29th. Finally, Keefe, Bruyette & Woods upped their price objective on Bank of Hawaii from $67.00 to $74.00 and gave the stock a “market perform” rating in a research report on Tuesday, October 29th. Three analysts have rated the stock with a sell rating and three have issued a hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $64.80.

Bank of Hawaii Trading Down 0.5 %

NYSE BOH opened at $77.21 on Tuesday. The company has a market cap of $3.07 billion, a PE ratio of 23.18, a PEG ratio of 5.10 and a beta of 1.03. Bank of Hawaii Co. has a 12 month low of $54.50 and a 12 month high of $81.45. The stock has a 50 day moving average of $68.02 and a 200-day moving average of $63.72. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.42.

Bank of Hawaii (NYSE:BOH) last released its quarterly earnings data on Monday, October 28th. The bank reported $0.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.82 by $0.11. Bank of Hawaii had a return on equity of 11.33% and a net margin of 13.76%. The firm had revenue of $265.76 million for the quarter, compared to analyst estimates of $160.29 million. During the same quarter in the prior year, the company earned $1.17 earnings per share. On average, equities research analysts anticipate that Bank of Hawaii Co. will post 3.52 EPS for the current fiscal year.

Bank of Hawaii Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 29th will be given a dividend of $0.70 per share. The ex-dividend date of this dividend is Friday, November 29th. This represents a $2.80 annualized dividend and a yield of 3.63%. Bank of Hawaii’s dividend payout ratio (DPR) is presently 84.08%.

Insider Buying and Selling

In other Bank of Hawaii news, insider Matthew Emerson sold 1,355 shares of the stock in a transaction that occurred on Wednesday, October 30th. The shares were sold at an average price of $72.27, for a total transaction of $97,925.85. Following the transaction, the insider now owns 13,717 shares in the company, valued at $991,327.59. This represents a 8.99 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 2.47% of the stock is currently owned by insiders.

About Bank of Hawaii

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.