KLP Kapitalforvaltning AS Invests $591,000 in Bank of Hawaii Co. (NYSE:BOH)

KLP Kapitalforvaltning AS bought a new stake in shares of Bank of Hawaii Co. (NYSE:BOH - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 8,300 shares of the bank's stock, valued at approximately $591,000.

A number of other hedge funds have also recently bought and sold shares of the company. SBI Securities Co. Ltd. bought a new position in shares of Bank of Hawaii during the 4th quarter valued at about $50,000. Smartleaf Asset Management LLC lifted its stake in Bank of Hawaii by 204.9% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,543 shares of the bank's stock valued at $110,000 after purchasing an additional 1,037 shares during the last quarter. KBC Group NV boosted its holdings in Bank of Hawaii by 70.9% during the fourth quarter. KBC Group NV now owns 1,957 shares of the bank's stock worth $139,000 after buying an additional 812 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. grew its position in Bank of Hawaii by 29.0% in the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 2,387 shares of the bank's stock worth $150,000 after buying an additional 536 shares during the last quarter. Finally, Xponance Inc. bought a new position in shares of Bank of Hawaii in the fourth quarter valued at $201,000. 82.18% of the stock is owned by institutional investors and hedge funds.

Bank of Hawaii Stock Down 1.0 %

Shares of Bank of Hawaii stock traded down $0.60 during midday trading on Monday, hitting $60.90. The company's stock had a trading volume of 699,193 shares, compared to its average volume of 355,318. Bank of Hawaii Co. has a 1-year low of $54.50 and a 1-year high of $82.70. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.42. The firm has a market capitalization of $2.42 billion, a P/E ratio of 17.60 and a beta of 0.87. The stock has a 50-day simple moving average of $70.61 and a 200-day simple moving average of $71.01.

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Bank of Hawaii (NYSE:BOH - Get Free Report) last announced its quarterly earnings data on Monday, January 27th. The bank reported $0.85 EPS for the quarter, missing analysts' consensus estimates of $0.87 by ($0.02). Bank of Hawaii had a return on equity of 11.81% and a net margin of 14.47%. As a group, sell-side analysts expect that Bank of Hawaii Co. will post 3.97 earnings per share for the current year.

Bank of Hawaii Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 28th were paid a $0.70 dividend. The ex-dividend date was Friday, February 28th. This represents a $2.80 annualized dividend and a yield of 4.60%. Bank of Hawaii's dividend payout ratio is presently 80.92%.

Insiders Place Their Bets

In related news, insider Taryn L. Salmon sold 449 shares of the firm's stock in a transaction that occurred on Thursday, January 30th. The shares were sold at an average price of $74.97, for a total transaction of $33,661.53. Following the transaction, the insider now owns 9,880 shares of the company's stock, valued at approximately $740,703.60. This trade represents a 4.35 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Patrick M. Mcguirk sold 2,000 shares of Bank of Hawaii stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $75.08, for a total transaction of $150,160.00. Following the completion of the sale, the chief accounting officer now owns 9,173 shares of the company's stock, valued at $688,708.84. This trade represents a 17.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 2.07% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on BOH. Piper Sandler lifted their target price on Bank of Hawaii from $66.00 to $68.00 and gave the stock an "underweight" rating in a report on Tuesday, January 28th. DA Davidson lifted their price target on Bank of Hawaii from $75.00 to $79.00 and gave the stock a "neutral" rating in a research note on Tuesday, January 28th. Three research analysts have rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $73.00.

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.