Bank of Hawaii Co. (NYSE:BOH) Shares Sold by Lord Abbett & CO. LLC

Lord Abbett & CO. LLC lessened its stake in Bank of Hawaii Co. (NYSE:BOH) by 0.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 66,542 shares of the bank’s stock after selling 605 shares during the quarter. Lord Abbett & CO. LLC owned about 0.17% of Bank of Hawaii worth $4,740,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Vanguard Group Inc. increased its holdings in shares of Bank of Hawaii by 0.7% in the fourth quarter. Vanguard Group Inc. now owns 4,618,206 shares of the bank’s stock valued at $329,001,000 after purchasing an additional 31,918 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Bank of Hawaii by 4.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,571,512 shares of the bank’s stock valued at $111,955,000 after purchasing an additional 60,092 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Bank of Hawaii by 5.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 840,574 shares of the bank’s stock valued at $59,884,000 after purchasing an additional 42,719 shares during the last quarter. Cramer Rosenthal Mcglynn LLC increased its stake in Bank of Hawaii by 9.5% during the fourth quarter. Cramer Rosenthal Mcglynn LLC now owns 563,259 shares of the bank’s stock worth $40,127,000 after acquiring an additional 48,999 shares during the last quarter. Finally, Norges Bank acquired a new stake in Bank of Hawaii during the fourth quarter worth $27,495,000. Institutional investors and hedge funds own 82.18% of the company’s stock.

Insiders Place Their Bets

In other 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 directly owns 9,880 shares in the company, 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 SEC, which is accessible through this link. Also, CAO Patrick M. Mcguirk sold 2,000 shares of the firm’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 transaction, the chief accounting officer now owns 9,173 shares in the company, valued at approximately $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. 2.07% of the stock is owned by company insiders.

Bank of Hawaii Trading Down 0.7 %

Shares of NYSE BOH opened at $65.90 on Monday. Bank of Hawaii Co. has a twelve month low of $54.50 and a twelve month high of $82.70. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.42. The stock has a fifty day simple moving average of $67.23 and a 200-day simple moving average of $71.02. The stock has a market capitalization of $2.62 billion, a PE ratio of 19.05 and a beta of 0.87.

Bank of Hawaii (NYSE:BOH) last released its earnings results on Monday, April 21st. The bank reported $0.97 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.89 by $0.08. The firm had revenue of $169.87 million during the quarter, compared to analyst estimates of $168.65 million. Bank of Hawaii had a return on equity of 11.81% and a net margin of 14.47%. During the same period last year, the business posted $0.87 earnings per share. On average, equities analysts forecast that Bank of Hawaii Co. will post 3.97 earnings per share for the current year.

Bank of Hawaii Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, June 13th. Investors of record on Friday, May 30th will be issued a $0.70 dividend. The ex-dividend date of this dividend is Friday, May 30th. This represents a $2.80 dividend on an annualized basis and a yield of 4.25%. Bank of Hawaii’s dividend payout ratio (DPR) is presently 78.65%.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the company. DA Davidson raised their target price 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. Barclays raised their target price on Bank of Hawaii from $64.00 to $67.00 and gave the stock an “underweight” rating in a research note on Tuesday, April 22nd. Finally, Piper Sandler raised their target price on Bank of Hawaii from $66.00 to $68.00 and gave the stock an “underweight” rating in a research note on Tuesday, January 28th. Three investment 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’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $73.17.

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.