3,962 Shares in Bank of Hawaii Co. (NYSE:BOH) Acquired by Verition Fund Management LLC

Verition Fund Management LLC bought a new stake in shares of Bank of Hawaii Co. (NYSE:BOH) in the third quarter, HoldingsChannel reports. The institutional investor bought 3,962 shares of the bank’s stock, valued at approximately $249,000.

Several other hedge funds have also made changes to their positions in BOH. Glenmede Trust Co. NA increased its stake in shares of Bank of Hawaii by 3.0% during the third quarter. Glenmede Trust Co. NA now owns 6,315 shares of the bank’s stock valued at $396,000 after buying an additional 182 shares during the period. Arizona State Retirement System grew its holdings in Bank of Hawaii by 1.9% during the 2nd quarter. Arizona State Retirement System now owns 11,134 shares of the bank’s stock worth $637,000 after acquiring an additional 210 shares in the last quarter. Louisiana State Employees Retirement System increased its position in Bank of Hawaii by 1.5% during the 2nd quarter. Louisiana State Employees Retirement System now owns 20,000 shares of the bank’s stock valued at $1,144,000 after purchasing an additional 300 shares during the period. Harrington Investments INC raised its holdings in shares of Bank of Hawaii by 2.0% in the 2nd quarter. Harrington Investments INC now owns 19,706 shares of the bank’s stock valued at $1,127,000 after purchasing an additional 394 shares in the last quarter. Finally, Cerity Partners LLC lifted its position in shares of Bank of Hawaii by 6.3% in the 3rd quarter. Cerity Partners LLC now owns 15,380 shares of the bank’s stock worth $965,000 after purchasing an additional 909 shares during the period. 82.18% of the stock is currently owned by hedge funds and other institutional investors.

Bank of Hawaii Price Performance

Shares of NYSE BOH opened at $74.08 on Friday. Bank of Hawaii Co. has a fifty-two week low of $54.50 and a fifty-two week high of $82.70. The company has a market cap of $2.94 billion, a PE ratio of 22.25, a P/E/G ratio of 4.86 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. The business has a 50-day simple moving average of $73.41 and a two-hundred day simple moving average of $66.19.

Bank of Hawaii (NYSE:BOH) last released its earnings results on Monday, October 28th. The bank reported $0.93 EPS for the quarter, topping analysts’ consensus estimates of $0.82 by $0.11. Bank of Hawaii had a net margin of 13.76% and a return on equity of 11.33%. The company had revenue of $265.76 million during the quarter, compared to analysts’ expectations of $160.29 million. During the same period last year, the business earned $1.17 EPS. As a group, equities analysts expect that Bank of Hawaii Co. will post 3.52 EPS for the current fiscal year.

Bank of Hawaii Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Friday, November 29th were issued a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.78%. The ex-dividend date of this dividend was Friday, November 29th. Bank of Hawaii’s dividend payout ratio (DPR) is presently 84.08%.

Insider Activity at Bank of Hawaii

In other Bank of Hawaii news, insider Matthew Emerson sold 1,355 shares of the business’s stock in a transaction dated Wednesday, October 30th. The stock was sold at an average price of $72.27, for a total transaction of $97,925.85. Following the sale, the insider now owns 13,717 shares in the company, valued at approximately $991,327.59. The trade was a 8.99 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.11% of the stock is owned by insiders.

Analysts Set New Price Targets

BOH has been the subject of a number of recent research reports. Stephens began coverage on shares of Bank of Hawaii in a research note on Wednesday, November 27th. They issued an “overweight” rating and a $90.00 price objective for the company. Keefe, Bruyette & Woods boosted their price target on Bank of Hawaii from $74.00 to $81.00 and gave the stock a “market perform” rating in a research report on Wednesday, December 4th. 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. Barclays boosted their target price on shares of Bank of Hawaii from $56.00 to $66.00 and gave the stock an “underweight” rating in a report on Thursday, December 5th. Finally, Piper Sandler raised their price target on shares of Bank of Hawaii from $61.00 to $66.00 and gave the company an “underweight” rating in a report on Tuesday, October 29th. Three 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. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $71.83.

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.