Norges Bank Takes $27.50 Million Position in Bank of Hawaii Co. (NYSE:BOH)

Norges Bank acquired a new position in shares of Bank of Hawaii Co. (NYSE:BOH) in the 4th quarter, HoldingsChannel.com reports. The institutional investor acquired 385,950 shares of the bank’s stock, valued at approximately $27,495,000.

A number of other hedge funds have also bought and sold shares of BOH. Perigon Wealth Management LLC raised its position in shares of Bank of Hawaii by 0.9% in the 4th quarter. Perigon Wealth Management LLC now owns 16,474 shares of the bank’s stock worth $1,168,000 after acquiring an additional 154 shares in the last quarter. Illinois Municipal Retirement Fund increased its holdings in Bank of Hawaii by 1.5% in the fourth quarter. Illinois Municipal Retirement Fund now owns 22,060 shares of the bank’s stock worth $1,572,000 after purchasing an additional 324 shares in the last quarter. Cadinha & Co. LLC lifted its stake in Bank of Hawaii by 12.2% in the fourth quarter. Cadinha & Co. LLC now owns 3,893 shares of the bank’s stock valued at $277,000 after buying an additional 423 shares during the period. Swiss National Bank boosted its holdings in shares of Bank of Hawaii by 0.8% during the 4th quarter. Swiss National Bank now owns 78,137 shares of the bank’s stock worth $5,566,000 after buying an additional 600 shares in the last quarter. Finally, Corient Private Wealth LLC grew its position in shares of Bank of Hawaii by 2.7% during the 4th quarter. Corient Private Wealth LLC now owns 25,175 shares of the bank’s stock worth $1,793,000 after buying an additional 663 shares during the period. Institutional investors own 82.18% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently issued reports on BOH. DA Davidson boosted 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. Piper Sandler raised their target price on Bank of Hawaii from $66.00 to $68.00 and gave the company an “underweight” rating in a research note on Tuesday, January 28th. Three equities research analysts have rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, Bank of Hawaii currently has an average rating of “Hold” and a consensus target price of $73.00.

Insider Buying and Selling

In other news, CAO Patrick M. Mcguirk sold 2,000 shares of the stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $75.08, for a total value of $150,160.00. Following the completion of the sale, the chief accounting officer now owns 9,173 shares in the company, valued at $688,708.84. This represents a 17.90 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Taryn L. Salmon sold 449 shares of the business’s stock in a transaction dated Thursday, January 30th. The stock was sold at an average price of $74.97, for a total transaction of $33,661.53. Following the transaction, the insider now 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 disclosure for this sale can be found here. 2.07% of the stock is currently owned by corporate insiders.

Bank of Hawaii Stock Performance

BOH opened at $61.44 on Monday. The company has a market cap of $2.44 billion, a price-to-earnings ratio of 17.76 and a beta of 0.87. The company’s fifty day moving average price is $70.87 and its two-hundred day moving average price is $71.05. Bank of Hawaii Co. has a 1-year low of $54.50 and a 1-year 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.

Bank of Hawaii (NYSE:BOH) last announced its quarterly earnings results on Monday, January 27th. The bank reported $0.85 earnings per share for the quarter, missing the consensus estimate of $0.87 by ($0.02). Bank of Hawaii had a net margin of 14.47% and a return on equity of 11.81%. On average, analysts expect that Bank of Hawaii Co. will post 3.97 EPS for the current fiscal year.

Bank of Hawaii Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 28th were given a dividend of $0.70 per share. The ex-dividend date was Friday, February 28th. This represents a $2.80 annualized dividend and a dividend yield of 4.56%. Bank of Hawaii’s payout ratio is 80.92%.

Bank of Hawaii Company 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.