Public Sector Pension Investment Board Decreases Holdings in Bank of Hawaii Co. (NYSE:BOH)

Public Sector Pension Investment Board decreased its holdings in Bank of Hawaii Co. (NYSE:BOH) by 3.4% in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 84,340 shares of the bank’s stock after selling 3,000 shares during the period. Public Sector Pension Investment Board owned approximately 0.21% of Bank of Hawaii worth $5,294,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Victory Capital Management Inc. lifted its stake in Bank of Hawaii by 13.1% in the second quarter. Victory Capital Management Inc. now owns 1,634,909 shares of the bank’s stock worth $93,533,000 after purchasing an additional 189,878 shares during the last quarter. International Assets Investment Management LLC bought a new position in shares of Bank of Hawaii during the third quarter valued at about $70,960,000. Dimensional Fund Advisors LP lifted its holdings in Bank of Hawaii by 14.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 789,486 shares of the bank’s stock worth $45,167,000 after buying an additional 98,465 shares during the period. American Century Companies Inc. lifted its stake in Bank of Hawaii by 8.7% in the second quarter. American Century Companies Inc. now owns 675,615 shares of the bank’s stock worth $38,652,000 after acquiring an additional 54,078 shares during the period. Finally, Squarepoint Ops LLC purchased a new stake in shares of Bank of Hawaii in the 2nd quarter worth about $2,230,000. Institutional investors own 82.18% of the company’s stock.

Insider Transactions at Bank of Hawaii

In related 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 2.11% of the company’s stock.

Bank of Hawaii Price Performance

Shares of BOH opened at $78.98 on Monday. Bank of Hawaii Co. has a twelve month low of $54.50 and a twelve month high of $82.70. The company has a market capitalization of $3.14 billion, a P/E ratio of 23.72, a price-to-earnings-growth ratio of 5.19 and a beta of 1.03. The firm has a 50 day moving average of $70.69 and a 200 day moving average of $64.93. 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) last posted its quarterly earnings results on Monday, October 28th. The bank reported $0.93 earnings per share for the quarter, topping 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 during the quarter, compared to analysts’ expectations of $160.29 million. During the same quarter in the previous year, the business earned $1.17 earnings per share. As a group, equities research analysts anticipate that Bank of Hawaii Co. will post 3.52 earnings per share for the current fiscal year.

Bank of Hawaii Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 29th will be issued a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.55%. The ex-dividend date is Friday, November 29th. Bank of Hawaii’s payout ratio is presently 84.08%.

Analysts Set New Price Targets

BOH has been the subject of a number of research analyst reports. Piper Sandler raised their target price on Bank of Hawaii from $61.00 to $66.00 and gave the company an “underweight” rating in a research note on Tuesday, October 29th. Keefe, Bruyette & Woods upped their target price on shares of 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. Stephens initiated coverage on shares of Bank of Hawaii in a research report on Wednesday, November 27th. They set an “overweight” rating and a $90.00 price target for the company. Barclays boosted their price target on Bank of Hawaii from $50.00 to $56.00 and gave the stock an “underweight” rating in a research report on Tuesday, October 29th. Finally, DA Davidson raised their price objective on Bank of Hawaii from $65.00 to $74.00 and gave the company a “neutral” rating in a research report on Tuesday, October 29th. Three research analysts have rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $69.00.

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.