Congress Asset Management Co. Buys 66,366 Shares of Bank of Hawaii Co. (NYSE:BOH)

Congress Asset Management Co. boosted its stake in shares of Bank of Hawaii Co. (NYSE:BOH) by 108.6% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 127,500 shares of the bank’s stock after purchasing an additional 66,366 shares during the period. Congress Asset Management Co.’s holdings in Bank of Hawaii were worth $9,083,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Geode Capital Management LLC lifted its holdings in Bank of Hawaii by 1.2% during the 3rd quarter. Geode Capital Management LLC now owns 908,303 shares of the bank’s stock valued at $57,025,000 after buying an additional 10,357 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in Bank of Hawaii by 2.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,511,420 shares of the bank’s stock valued at $94,872,000 after buying an additional 35,187 shares in the last quarter. Barclays PLC lifted its holdings in Bank of Hawaii by 91.2% during the 3rd quarter. Barclays PLC now owns 93,504 shares of the bank’s stock valued at $5,870,000 after buying an additional 44,599 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in Bank of Hawaii by 13.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 86,591 shares of the bank’s stock valued at $5,435,000 after buying an additional 10,390 shares in the last quarter. Finally, Quest Partners LLC bought a new stake in Bank of Hawaii during the 3rd quarter valued at about $1,823,000. Institutional investors own 82.18% of the company’s stock.

Bank of Hawaii Stock Up 0.3 %

Shares of Bank of Hawaii stock opened at $72.91 on Monday. The firm’s 50 day moving average price is $72.15 and its 200-day moving average price is $69.99. 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 Co. has a 52-week low of $54.50 and a 52-week high of $82.70. The company has a market cap of $2.90 billion, a P/E ratio of 21.07 and a beta of 1.04.

Bank of Hawaii (NYSE:BOH) last issued its quarterly earnings data 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%. On average, sell-side analysts predict that Bank of Hawaii Co. will post 3.94 EPS for the current fiscal year.

Bank of Hawaii Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Friday, February 28th will be given a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 3.84%. The ex-dividend date of this dividend is Friday, February 28th. Bank of Hawaii’s dividend payout ratio is presently 80.92%.

Insiders Place Their Bets

In other Bank of Hawaii news, insider Taryn L. Salmon sold 449 shares of the business’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 sale, the insider now owns 9,880 shares of the company’s stock, valued at approximately $740,703.60. The trade was a 4.35 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Patrick M. Mcguirk sold 2,000 shares of the business’s stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $75.08, for a total transaction of $150,160.00. Following the sale, the chief accounting officer now directly owns 9,173 shares in the company, valued at approximately $688,708.84. This represents a 17.90 % decrease in their position. The disclosure for this sale can be found here. 2.11% of the stock is owned by insiders.

Analyst Ratings Changes

A number of research analysts have commented on the stock. Piper Sandler raised their target price on shares of Bank of Hawaii from $66.00 to $68.00 and gave the company an “underweight” rating in a research report on Tuesday, January 28th. Keefe, Bruyette & Woods raised their target price 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. Stephens assumed coverage on shares of Bank of Hawaii in a research report on Wednesday, November 27th. They set an “overweight” rating and a $90.00 target price on the stock. DA Davidson raised their target price on shares of Bank of Hawaii from $75.00 to $79.00 and gave the company a “neutral” rating in a research report on Tuesday, January 28th. Finally, Barclays raised their target price on shares of Bank of Hawaii from $56.00 to $66.00 and gave the company an “underweight” rating in a research report on Thursday, December 5th. Three analysts have rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $73.00.

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.