Cramer Rosenthal Mcglynn LLC Increases Stock Holdings in Bank of Hawaii Co. (NYSE:BOH)

Cramer Rosenthal Mcglynn LLC raised its stake in Bank of Hawaii Co. (NYSE:BOH) by 9.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 563,259 shares of the bank’s stock after purchasing an additional 48,999 shares during the period. Bank of Hawaii makes up approximately 2.3% of Cramer Rosenthal Mcglynn LLC’s holdings, making the stock its 4th biggest position. Cramer Rosenthal Mcglynn LLC owned 1.42% of Bank of Hawaii worth $40,127,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in BOH. CANADA LIFE ASSURANCE Co increased its position in shares of Bank of Hawaii by 2.0% during the fourth quarter. CANADA LIFE ASSURANCE Co now owns 44,276 shares of the bank’s stock valued at $3,152,000 after purchasing an additional 867 shares during the period. Canada Pension Plan Investment Board acquired a new stake in Bank of Hawaii during the fourth quarter worth $2,679,000. Mariner LLC raised its stake in shares of Bank of Hawaii by 1.7% in the 4th quarter. Mariner LLC now owns 9,076 shares of the bank’s stock valued at $647,000 after buying an additional 154 shares in the last quarter. Barclays PLC raised its stake in shares of Bank of Hawaii by 49.6% in the 4th quarter. Barclays PLC now owns 139,857 shares of the bank’s stock valued at $9,964,000 after buying an additional 46,353 shares in the last quarter. Finally, Summit Investment Advisors Inc. lifted its holdings in shares of Bank of Hawaii by 6.8% during the 4th quarter. Summit Investment Advisors Inc. now owns 4,089 shares of the bank’s stock worth $291,000 after acquiring an additional 260 shares during the period. Institutional investors own 82.18% of the company’s stock.

Insider Activity at Bank of Hawaii

In related news, insider Taryn L. Salmon sold 449 shares of the firm’s stock in a transaction dated Thursday, January 30th. The stock was sold at an average price of $74.97, for a total value of $33,661.53. Following the transaction, the insider now owns 9,880 shares in the company, valued at $740,703.60. This trade represents a 4.35 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Patrick M. Mcguirk sold 2,000 shares of the business’s stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $75.08, for a total value of $150,160.00. Following the sale, the chief accounting officer now directly owns 9,173 shares of the company’s stock, valued at $688,708.84. This represents 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 company insiders.

Bank of Hawaii Stock Up 1.2 %

NYSE BOH opened at $64.99 on Friday. The stock’s 50 day simple moving average is $68.12 and its 200 day simple moving average is $70.79. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.71 and a quick ratio of 0.71. Bank of Hawaii Co. has a one year low of $54.50 and a one year high of $82.70. The firm has a market cap of $2.59 billion, a PE ratio of 18.78 and a beta of 0.87.

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

Bank of Hawaii Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 28th were paid a dividend of $0.70 per share. The ex-dividend date of this dividend was Friday, February 28th. This represents a $2.80 annualized dividend and a dividend yield of 4.31%. Bank of Hawaii’s dividend payout ratio (DPR) is currently 80.92%.

Wall Street Analyst Weigh In

Several research firms recently issued reports on BOH. Barclays dropped their price target on shares of Bank of Hawaii from $66.00 to $64.00 and set an “underweight” rating for the company in a research report on Tuesday, April 8th. Piper Sandler increased 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. Finally, DA Davidson boosted their price target on Bank of Hawaii from $75.00 to $79.00 and gave the company a “neutral” rating in a research note on Tuesday, January 28th. Three equities research analysts have rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $72.67.

Bank of Hawaii 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.