Norges Bank Makes New $27.50 Million Investment in Bank of Hawaii Co. (NYSE:BOH)

Norges Bank bought a new stake in shares of Bank of Hawaii Co. (NYSE:BOH - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 385,950 shares of the bank's stock, valued at approximately $27,495,000. Norges Bank owned about 0.97% of Bank of Hawaii at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Vanguard Group Inc. grew its stake in Bank of Hawaii by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 4,618,206 shares of the bank's stock worth $329,001,000 after buying an additional 31,918 shares during the last quarter. State Street Corp grew its position in shares of Bank of Hawaii by 5.0% during the third quarter. State Street Corp now owns 2,244,649 shares of the bank's stock worth $140,897,000 after acquiring an additional 106,717 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Bank of Hawaii by 4.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,571,512 shares of the bank's stock worth $111,955,000 after acquiring an additional 60,092 shares during the period. Geode Capital Management LLC lifted its position in Bank of Hawaii by 1.2% in the 3rd quarter. Geode Capital Management LLC now owns 908,303 shares of the bank's stock valued at $57,025,000 after purchasing an additional 10,357 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its stake in Bank of Hawaii by 188.8% during the 4th quarter. JPMorgan Chase & Co. now owns 250,094 shares of the bank's stock valued at $17,817,000 after purchasing an additional 163,503 shares during the period. 82.18% of the stock is currently owned by institutional investors and hedge funds.

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Bank of Hawaii Price Performance

NYSE BOH traded up $0.97 on Friday, reaching $61.39. 505,082 shares of the stock traded hands, compared to its average volume of 362,567. Bank of Hawaii Co. has a 12 month low of $54.50 and a 12 month high of $82.70. The company has a market cap of $2.44 billion, a price-to-earnings ratio of 17.74 and a beta of 0.87. The firm's fifty day simple moving average is $69.02 and its 200 day simple moving average is $70.82. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.42.

Bank of Hawaii (NYSE:BOH - Get Free Report) last released its earnings results on Monday, January 27th. The bank reported $0.85 earnings per share (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, research analysts predict that Bank of Hawaii Co. will post 3.97 EPS for the current fiscal year.

Bank of Hawaii Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 28th were paid a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 4.56%. The ex-dividend date was Friday, February 28th. Bank of Hawaii's dividend payout ratio is presently 80.92%.

Insider Buying and Selling

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

Analyst Upgrades and Downgrades

Several equities research analysts have commented on BOH shares. Piper Sandler raised their price target on shares of Bank of Hawaii from $66.00 to $68.00 and gave the company an "underweight" rating in a research note on Tuesday, January 28th. DA Davidson increased their price objective on Bank of Hawaii from $75.00 to $79.00 and gave the stock a "neutral" rating in a report on Tuesday, January 28th. Finally, Barclays cut their target price on Bank of Hawaii from $66.00 to $64.00 and set an "underweight" rating on the stock in a research note on Tuesday. Three equities research analysts have rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $72.67.

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.