State Street Corp Boosts Stake in Bank of Hawaii Co. (NYSE:BOH)

State Street Corp boosted its holdings in Bank of Hawaii Co. (NYSE:BOH - Free Report) by 5.0% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,244,649 shares of the bank's stock after acquiring an additional 106,717 shares during the period. State Street Corp owned 5.65% of Bank of Hawaii worth $140,897,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently made changes to their positions in BOH. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Bank of Hawaii during the second quarter worth about $106,000. Point72 DIFC Ltd purchased a new stake in Bank of Hawaii in the 2nd quarter worth about $119,000. UMB Bank n.a. lifted its stake in 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 worth $169,000 after purchasing an additional 2,644 shares in the last quarter. Rothschild Investment LLC purchased a new position in shares of Bank of Hawaii during the 2nd quarter valued at about $172,000. Finally, Bridges Investment Management Inc. purchased a new stake in shares of Bank of Hawaii in the 2nd quarter valued at $205,000. Institutional investors own 82.18% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on BOH shares. Piper Sandler increased their price objective on Bank of Hawaii from $61.00 to $66.00 and gave the stock an "underweight" rating in a report on Tuesday, October 29th. Barclays raised their price objective 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. Stephens started coverage on shares of Bank of Hawaii in a report on Wednesday, November 27th. They set an "overweight" rating and a $90.00 target price for the company. 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. Finally, DA Davidson upped their price objective on 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 research 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 company currently has an average rating of "Hold" and an average price target of $71.83.

Bank of Hawaii Price Performance

Shares of BOH stock traded down $0.63 on Friday, hitting $74.08. 320,740 shares of the stock traded hands, compared to its average volume of 287,073. The firm has a market cap of $2.94 billion, a price-to-earnings ratio of 22.25, a PEG ratio of 4.86 and a beta of 1.03. 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 firm has a 50 day simple moving average of $73.41 and a two-hundred day simple moving average of $66.19. Bank of Hawaii Co. has a 52 week low of $54.50 and a 52 week high of $82.70.

Bank of Hawaii (NYSE:BOH - Get Free Report) last released its quarterly earnings data on Monday, October 28th. The bank reported $0.93 earnings per share for the quarter, topping analysts' consensus estimates of $0.82 by $0.11. The firm had revenue of $265.76 million during the quarter, compared to analyst estimates of $160.29 million. Bank of Hawaii had a return on equity of 11.33% and a net margin of 13.76%. During the same quarter in the prior year, the company posted $1.17 earnings per share. As a group, equities research analysts predict that Bank of Hawaii Co. will post 3.52 earnings per share for the current fiscal year.

Bank of Hawaii Dividend Announcement

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

Insider Buying and Selling

In other news, insider Matthew Emerson sold 1,355 shares of the business's stock in a transaction dated Wednesday, October 30th. The shares were sold at an average price of $72.27, for a total value of $97,925.85. Following the sale, the insider now directly owns 13,717 shares in the company, valued at $991,327.59. The trade was a 8.99 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 2.11% of the stock is owned by company 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.