JPMorgan Chase & Co. Acquires 10,390 Shares of Bank of Hawaii Co. (NYSE:BOH)

JPMorgan Chase & Co. lifted its position in Bank of Hawaii Co. (NYSE:BOH - Free Report) by 13.6% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 86,591 shares of the bank's stock after purchasing an additional 10,390 shares during the quarter. JPMorgan Chase & Co. owned about 0.22% of Bank of Hawaii worth $5,435,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the company. Point72 Asia Singapore Pte. Ltd. bought a new position in Bank of Hawaii during the second quarter valued at $106,000. Point72 DIFC Ltd purchased a new stake in shares of Bank of Hawaii during the 2nd quarter valued at about $119,000. UMB Bank n.a. lifted its holdings in shares of Bank of Hawaii by 5,508.3% in the 3rd quarter. UMB Bank n.a. now owns 2,692 shares of the bank's stock valued at $169,000 after acquiring an additional 2,644 shares during the last quarter. Bridges Investment Management Inc. purchased a new position in Bank of Hawaii in the second quarter worth about $205,000. Finally, Crestwood Advisors Group LLC bought a new stake in Bank of Hawaii during the third quarter worth approximately $207,000. 82.18% of the stock is currently owned by hedge funds and other institutional investors.

Bank of Hawaii Trading Up 0.3 %

Shares of NYSE:BOH traded up $0.25 on Friday, hitting $71.12. 355,140 shares of the company's stock were exchanged, compared to its average volume of 411,431. The stock has a market capitalization of $2.83 billion, a price-to-earnings ratio of 21.36, a price-to-earnings-growth ratio of 4.51 and a beta of 1.05. Bank of Hawaii Co. has a 12 month low of $54.50 and a 12 month high of $82.70. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.71 and a quick ratio of 0.71. The business's 50 day simple moving average is $74.10 and its two-hundred day simple moving average is $68.50.

Bank of Hawaii (NYSE:BOH - Get Free Report) last announced 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. The company had revenue of $265.76 million during the quarter, compared to analyst estimates of $160.29 million. Bank of Hawaii had a net margin of 13.76% and a return on equity of 11.33%. During the same quarter last year, the business posted $1.17 EPS. Analysts anticipate that Bank of Hawaii Co. will post 3.54 EPS for the current fiscal year.

Bank of Hawaii Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Friday, November 29th were issued a $0.70 dividend. The ex-dividend date was Friday, November 29th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.94%. Bank of Hawaii's payout ratio is 84.08%.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on BOH. Stephens assumed coverage on 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. Barclays raised their price target on Bank of Hawaii from $56.00 to $66.00 and gave the stock an "underweight" rating in a research report on Thursday, December 5th. Keefe, Bruyette & Woods boosted their price objective on shares of Bank of Hawaii from $74.00 to $81.00 and gave the company a "market perform" rating in a research report on Wednesday, December 4th. Piper Sandler increased their target price on shares of Bank of Hawaii from $61.00 to $66.00 and gave the company an "underweight" rating in a research note on Tuesday, October 29th. Finally, DA Davidson lifted their price target on shares of Bank of Hawaii from $65.00 to $74.00 and gave the stock a "neutral" rating in a research note on Tuesday, October 29th. Three analysts have rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $71.83.

Insider Buying and Selling

In other Bank of Hawaii news, insider Matthew Emerson sold 1,355 shares of the company's stock in a transaction on Wednesday, October 30th. The stock was sold at an average price of $72.27, for a total value of $97,925.85. Following the completion of the sale, the insider now directly owns 13,717 shares in the company, valued at approximately $991,327.59. This represents a 8.99 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.11% of the stock is owned by insiders.

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.