The Manufacturers Life Insurance Company Acquires 1,061 Shares of Bank of Hawaii Co. (NYSE:BOH)

The Manufacturers Life Insurance Company boosted its holdings in shares of Bank of Hawaii Co. (NYSE:BOH) by 5.1% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 21,878 shares of the bank’s stock after buying an additional 1,061 shares during the period. The Manufacturers Life Insurance Company owned approximately 0.06% of Bank of Hawaii worth $1,252,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its stake in Bank of Hawaii by 1.9% during the fourth 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. Victory Capital Management Inc. boosted its stake in Bank of Hawaii by 13.1% during the second quarter. Victory Capital Management Inc. now owns 1,634,909 shares of the bank’s stock valued at $93,533,000 after buying an additional 189,878 shares during the period. Dimensional Fund Advisors LP boosted its stake in Bank of Hawaii by 14.2% during the second quarter. Dimensional Fund Advisors LP now owns 789,486 shares of the bank’s stock valued at $45,167,000 after buying an additional 98,465 shares during the period. Swedbank AB raised its position in Bank of Hawaii by 3.6% during the second quarter. Swedbank AB now owns 725,000 shares of the bank’s stock valued at $41,477,000 after purchasing an additional 25,000 shares in the last quarter. Finally, American Century Companies Inc. raised its position in Bank of Hawaii by 8.7% during the second quarter. American Century Companies Inc. now owns 675,615 shares of the bank’s stock valued at $38,652,000 after purchasing an additional 54,078 shares in the last quarter. Institutional investors own 82.18% of the company’s stock.

Bank of Hawaii Stock Up 3.4 %

NYSE BOH opened at $66.45 on Friday. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.71 and a quick ratio of 0.71. The stock has a market capitalization of $2.64 billion, a PE ratio of 18.61, a PEG ratio of 7.07 and a beta of 1.05. Bank of Hawaii Co. has a 1 year low of $45.56 and a 1 year high of $75.19. The business’s 50-day moving average is $64.52 and its 200 day moving average is $61.31.

Bank of Hawaii (NYSE:BOH) last posted its quarterly earnings data on Monday, July 22nd. The bank reported $0.81 earnings per share for the quarter, missing the consensus estimate of $0.85 by ($0.04). The firm had revenue of $255.62 million for the quarter, compared to the consensus estimate of $157.12 million. Bank of Hawaii had a net margin of 14.54% and a return on equity of 12.25%. During the same period in the previous year, the firm posted $1.12 earnings per share. Sell-side analysts forecast that Bank of Hawaii Co. will post 3.4 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. Shareholders of record on Friday, August 30th were given a dividend of $0.70 per share. The ex-dividend date was Friday, August 30th. This represents a $2.80 annualized dividend and a yield of 4.21%. Bank of Hawaii’s payout ratio is 78.43%.

Insider Buying and Selling at Bank of Hawaii

In other Bank of Hawaii 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 transaction of $160,279.20. Following the sale, the insider now directly owns 10,785 shares of the company’s stock, valued at approximately $731,223. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 2.11% of the company’s stock.

Analyst Ratings Changes

BOH has been the topic of several analyst reports. Piper Sandler downgraded Bank of Hawaii from a “neutral” rating to an “underweight” rating and decreased their price objective for the stock from $70.00 to $61.00 in a report on Monday, August 12th. Keefe, Bruyette & Woods upgraded Bank of Hawaii from an “underperform” rating to a “market perform” rating and lifted their price objective for the stock from $60.00 to $67.00 in a report on Wednesday, October 2nd. DA Davidson lifted their price objective on Bank of Hawaii from $63.00 to $70.00 and gave the stock a “neutral” rating in a report on Monday, July 29th. Finally, Jefferies Financial Group lifted their price objective on Bank of Hawaii from $53.00 to $54.00 and gave the stock a “hold” rating in a report on Wednesday, July 3rd. Three analysts have rated the stock with a sell rating and three have given a hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $60.40.

Bank of Hawaii 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.