Louisiana State Employees Retirement System Takes Position in Bank of Hawaii Co. (NYSE:BOH)

Louisiana State Employees Retirement System bought a new stake in shares of Bank of Hawaii Co. (NYSE:BOH) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 19,900 shares of the bank’s stock, valued at approximately $1,442,000. Louisiana State Employees Retirement System owned 0.05% of Bank of Hawaii as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. BlackRock Inc. grew its position in shares of Bank of Hawaii by 38.3% during the 2nd quarter. BlackRock Inc. now owns 5,222,846 shares of the bank’s stock valued at $215,338,000 after acquiring an additional 1,445,598 shares during the period. Vanguard Group Inc. lifted its stake in shares of Bank of Hawaii by 1.3% during the 3rd quarter. Vanguard Group Inc. now owns 3,977,581 shares of the bank’s stock valued at $302,774,000 after buying an additional 49,163 shares in the last quarter. State Street Corp lifted its stake in shares of Bank of Hawaii by 101.2% during the 2nd quarter. State Street Corp now owns 3,094,213 shares of the bank’s stock valued at $127,574,000 after buying an additional 1,556,146 shares in the last quarter. Victory Capital Management Inc. lifted its stake in shares of Bank of Hawaii by 28.6% during the 3rd quarter. Victory Capital Management Inc. now owns 2,652,216 shares of the bank’s stock valued at $131,789,000 after buying an additional 590,492 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in shares of Bank of Hawaii by 3.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,118,092 shares of the bank’s stock valued at $55,558,000 after buying an additional 39,512 shares in the last quarter. 82.18% of the stock is owned by institutional investors.

Bank of Hawaii Stock Performance

NYSE BOH opened at $58.40 on Friday. Bank of Hawaii Co. has a 1 year low of $30.83 and a 1 year high of $75.19. The company has a debt-to-equity ratio of 0.45, a current ratio of 0.70 and a quick ratio of 0.70. The stock has a market capitalization of $2.32 billion, a PE ratio of 14.07, a P/E/G ratio of 1.96 and a beta of 1.06. The company’s 50 day simple moving average is $60.51 and its two-hundred day simple moving average is $60.58.

Bank of Hawaii (NYSE:BOH) last posted its quarterly earnings data on Monday, January 22nd. The bank reported $1.01 earnings per share for the quarter, beating the consensus estimate of $1.00 by $0.01. The firm had revenue of $252.63 million for the quarter, compared to analysts’ expectations of $161.03 million. Bank of Hawaii had a net margin of 17.35% and a return on equity of 14.35%. During the same quarter last year, the company posted $1.50 EPS. Analysts predict that Bank of Hawaii Co. will post 3.72 earnings per share for the current fiscal year.

Bank of Hawaii Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 14th. Stockholders of record on Thursday, February 29th were given a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a dividend yield of 4.79%. The ex-dividend date of this dividend was Wednesday, February 28th. Bank of Hawaii’s dividend payout ratio (DPR) is currently 67.47%.

Wall Street Analyst Weigh In

A number of analysts recently commented on the stock. Jefferies Financial Group dropped their price target on shares of Bank of Hawaii from $67.00 to $62.00 and set a “hold” rating on the stock in a research note on Monday, April 8th. Keefe, Bruyette & Woods dropped their price target on shares of Bank of Hawaii from $57.00 to $55.00 and set an “underperform” rating on the stock in a research note on Tuesday, January 23rd. StockNews.com upgraded shares of Bank of Hawaii to a “sell” rating in a research note on Thursday, January 25th. Piper Sandler lowered their target price on shares of Bank of Hawaii from $70.00 to $69.00 and set a “neutral” rating on the stock in a research note on Tuesday, January 23rd. Finally, Barclays initiated coverage on shares of Bank of Hawaii in a research note on Friday, March 8th. They issued an “underweight” rating and a $51.00 target price on the stock. Four analysts have rated the stock with a sell rating and two have given a hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Reduce” and an average price target of $53.60.

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.