Public Sector Pension Investment Board Purchases 5,857 Shares of Bank of Hawaii Co. (NYSE:BOH)

Public Sector Pension Investment Board raised its position in shares of Bank of Hawaii Co. (NYSE:BOH) by 7.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 87,340 shares of the bank’s stock after acquiring an additional 5,857 shares during the quarter. Public Sector Pension Investment Board’s holdings in Bank of Hawaii were worth $4,997,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of BOH. Quest Partners LLC bought a new stake in shares of Bank of Hawaii during the 4th quarter valued at about $41,000. Rothschild Investment LLC bought a new position in shares of Bank of Hawaii during the 2nd quarter worth approximately $172,000. Bridges Investment Management Inc. acquired a new stake in shares of Bank of Hawaii during the 2nd quarter worth approximately $205,000. Central Pacific Bank Trust Division acquired a new stake in shares of Bank of Hawaii during the 1st quarter worth approximately $244,000. Finally, B. Riley Wealth Advisors Inc. bought a new stake in shares of Bank of Hawaii in the 1st quarter valued at $283,000. 82.18% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

Insiders Place Their Bets

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 shares were sold at an average price of $67.80, for a total transaction of $160,279.20. Following the transaction, the insider now owns 10,785 shares of the company’s stock, valued at approximately $731,223. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 2.11% of the stock is currently owned by insiders.

Bank of Hawaii Stock Performance

Shares of BOH opened at $62.05 on Thursday. Bank of Hawaii Co. has a 52 week low of $45.56 and a 52 week high of $75.19. 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 stock has a 50 day moving average price of $65.55 and a two-hundred day moving average price of $61.09. The firm has a market capitalization of $2.47 billion, a P/E ratio of 15.99 and a beta of 1.05.

Bank of Hawaii (NYSE:BOH) last released its quarterly earnings results on Monday, July 22nd. The bank reported $0.81 EPS for the quarter, missing analysts’ consensus estimates of $0.85 by ($0.04). The company had revenue of $255.62 million during the quarter, compared to analysts’ expectations 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 company posted $1.12 earnings per share. Equities analysts forecast that Bank of Hawaii Co. will post 3.45 earnings per share for the current fiscal year.

Bank of Hawaii Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Friday, August 30th were issued a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 4.51%. The ex-dividend date was Friday, August 30th. Bank of Hawaii’s dividend payout ratio (DPR) is presently 72.16%.

Bank of Hawaii Company 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.