Crestwood Advisors Group LLC Acquires Shares of 3,297 Bank of Hawaii Co. (NYSE:BOH)

Crestwood Advisors Group LLC bought a new position in Bank of Hawaii Co. (NYSE:BOH) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 3,297 shares of the bank’s stock, valued at approximately $207,000.

Other hedge funds also recently made changes to their positions in the company. State Board of Administration of Florida Retirement System raised its position in 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 valued at $2,788,000 after purchasing an additional 33,495 shares during the last quarter. SG Americas Securities LLC bought a new position in shares of Bank of Hawaii during the first quarter valued at approximately $696,000. TIAA Trust National Association purchased a new stake in Bank of Hawaii in the first quarter worth $2,357,000. Quantbot Technologies LP bought a new stake in Bank of Hawaii in the first quarter valued at $1,664,000. Finally, Swedbank AB increased its position in Bank of Hawaii by 3.6% during the 2nd 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 during the period. 82.18% of the stock is owned by hedge funds and other institutional investors.

Bank of Hawaii Price Performance

Shares of NYSE BOH opened at $77.58 on Friday. The company has a 50 day simple moving average of $66.22 and a two-hundred day simple moving average of $62.68. Bank of Hawaii Co. has a fifty-two week low of $51.18 and a fifty-two week high of $81.39. The company has a market capitalization of $3.08 billion, a price-to-earnings ratio of 23.30, a P/E/G ratio of 7.55 and a beta of 1.03. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.71 and a current ratio of 0.71.

Bank of Hawaii (NYSE:BOH) last posted its quarterly earnings data on Monday, October 28th. The bank reported $0.93 earnings per share for the quarter, beating analysts’ consensus estimates 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 company had revenue of $265.76 million during the quarter, compared to analyst estimates of $160.29 million. During the same quarter last year, the company earned $1.17 EPS. Analysts expect that Bank of Hawaii Co. will post 3.57 EPS for the current fiscal year.

Bank of Hawaii Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 29th will be paid a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 3.61%. The ex-dividend date is Tuesday, October 29th. Bank of Hawaii’s payout ratio is 84.08%.

Insider Activity at Bank of Hawaii

In other news, insider Matthew Emerson sold 1,355 shares of the company’s stock in a transaction that occurred on Wednesday, October 30th. The shares were sold at an average price of $72.27, for a total value of $97,925.85. Following the transaction, the insider now owns 13,717 shares in the company, valued at approximately $991,327.59. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. 2.11% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

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

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.