Renaissance Technologies LLC Has $5.86 Million Stock Position in Bank of Hawaii Co. (NYSE:BOH)

Renaissance Technologies LLC raised its position in Bank of Hawaii Co. (NYSE:BOH) by 7.2% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 102,400 shares of the bank’s stock after acquiring an additional 6,900 shares during the period. Renaissance Technologies LLC’s holdings in Bank of Hawaii were worth $5,858,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. State Board of Administration of Florida Retirement System lifted its position in shares of Bank of Hawaii by 299.1% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 44,694 shares of the bank’s stock worth $2,788,000 after buying an additional 33,495 shares during the period. Goldman Sachs Group Inc. grew its stake in Bank of Hawaii by 105.6% during the fourth quarter. Goldman Sachs Group Inc. now owns 451,528 shares of the bank’s stock worth $32,718,000 after buying an additional 231,909 shares during the last quarter. SG Americas Securities LLC bought a new stake in shares of Bank of Hawaii during the first quarter worth $696,000. TIAA Trust National Association acquired a new position in shares of Bank of Hawaii during the first quarter worth approximately $2,357,000. Finally, Vanguard Group Inc. increased its stake in shares of Bank of Hawaii by 1.9% in the 4th quarter. Vanguard Group Inc. now owns 4,650,102 shares of the bank’s stock valued at $336,946,000 after buying an additional 87,919 shares during the period. 82.18% of the stock is owned by institutional investors.

Insider Activity at Bank of Hawaii

In related news, insider Taryn L. Salmon sold 2,364 shares of Bank of Hawaii stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $67.80, for a total value of $160,279.20. Following the transaction, the insider now directly owns 10,785 shares of the company’s stock, valued at $731,223. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 2.11% of the stock is owned by company insiders.

Bank of Hawaii Price Performance

NYSE:BOH opened at $62.93 on Friday. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.71 and a current ratio of 0.71. The firm has a market cap of $2.50 billion, a price-to-earnings ratio of 16.22 and a beta of 1.05. The firm’s 50-day simple moving average is $65.47 and its 200 day simple moving average is $61.11. Bank of Hawaii Co. has a 52 week low of $45.56 and a 52 week high of $75.19.

Bank of Hawaii (NYSE:BOH) last issued its quarterly earnings results on Monday, July 22nd. The bank reported $0.81 earnings per share for the quarter, missing analysts’ consensus estimates of $0.85 by ($0.04). Bank of Hawaii had a return on equity of 12.25% and a net margin of 14.54%. The firm had revenue of $255.62 million for the quarter, compared to the consensus estimate of $157.12 million. During the same period last year, the company posted $1.12 EPS. As a group, sell-side analysts predict that Bank of Hawaii Co. will post 3.45 earnings per share for the current year.

Bank of Hawaii Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Friday, August 30th were given a dividend of $0.70 per share. The ex-dividend date of this dividend was Friday, August 30th. This represents a $2.80 dividend on an annualized basis and a yield of 4.45%. Bank of Hawaii’s dividend payout ratio is currently 72.16%.

Wall Street Analysts Forecast Growth

BOH has been the subject of several recent research reports. Keefe, Bruyette & Woods upped their target price on shares of Bank of Hawaii from $58.00 to $60.00 and gave the company an “underperform” rating in a research report on Tuesday, July 23rd. Piper Sandler downgraded Bank of Hawaii from a “neutral” rating to an “underweight” rating and dropped their price target for the company from $70.00 to $61.00 in a research note on Monday, August 12th. DA Davidson upped their price objective on Bank of Hawaii from $63.00 to $70.00 and gave the stock a “neutral” rating in a research report on Monday, July 29th. Jefferies Financial Group increased their price target on Bank of Hawaii from $53.00 to $54.00 and gave the company a “hold” rating in a research report on Wednesday, July 3rd. Finally, StockNews.com upgraded Bank of Hawaii to a “sell” rating in a report on Thursday, May 30th. Four equities research analysts have rated the stock with a sell rating and two have issued a hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Reduce” and a consensus price target of $59.00.

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.