D. E. Shaw & Co. Inc. Increases Stock Position in Bank of Hawaii Co. (NYSE:BOH)

D. E. Shaw & Co. Inc. boosted its stake in Bank of Hawaii Co. (NYSE:BOH) by 452.6% during the fourth quarter, HoldingsChannel reports. The firm owned 35,546 shares of the bank’s stock after buying an additional 29,114 shares during the period. D. E. Shaw & Co. Inc.’s holdings in Bank of Hawaii were worth $2,532,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Vanguard Group Inc. raised its stake in 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 in the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Bank of Hawaii by 4.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,571,512 shares of the bank’s stock worth $111,955,000 after acquiring an additional 60,092 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Bank of Hawaii by 5.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 840,574 shares of the bank’s stock worth $59,884,000 after acquiring an additional 42,719 shares in the last quarter. Balyasny Asset Management L.P. purchased a new position in shares of Bank of Hawaii during the fourth quarter worth approximately $54,309,000. Finally, Ameriprise Financial Inc. raised its stake in shares of Bank of Hawaii by 558.1% during the fourth quarter. Ameriprise Financial Inc. now owns 646,890 shares of the bank’s stock worth $46,084,000 after acquiring an additional 548,599 shares in the last quarter. 82.18% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have commented on BOH. Piper Sandler lifted their price target on shares of Bank of Hawaii from $66.00 to $68.00 and gave the stock an “underweight” rating in a research note on Tuesday, January 28th. DA Davidson raised their target price on shares of Bank of Hawaii from $75.00 to $79.00 and gave the stock a “neutral” rating in a report on Tuesday, January 28th. Finally, Barclays raised their target price on shares of Bank of Hawaii from $64.00 to $67.00 and gave the stock an “underweight” rating in a report on Tuesday, April 22nd. Three equities research analysts have rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, Bank of Hawaii has an average rating of “Hold” and an average target price of $73.17.

Insider Buying and Selling

In related news, insider Taryn L. Salmon sold 1,652 shares of the stock in a transaction that occurred on Thursday, April 24th. The shares were sold at an average price of $66.15, for a total value of $109,279.80. Following the completion of the sale, the insider now directly owns 6,442 shares of the company’s stock, valued at approximately $426,138.30. This represents a 20.41% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 2.07% of the stock is currently owned by insiders.

Bank of Hawaii Price Performance

NYSE BOH opened at $69.86 on Tuesday. Bank of Hawaii Co. has a 52 week low of $54.50 and a 52 week high of $82.70. The firm has a market capitalization of $2.78 billion, a P/E ratio of 20.19 and a beta of 0.76. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.42. The company has a 50-day moving average price of $66.62 and a 200-day moving average price of $71.04.

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

Bank of Hawaii Announces Dividend

The company 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. This represents a $2.80 annualized dividend and a yield of 4.01%. The ex-dividend date of this dividend is Friday, May 30th. Bank of Hawaii’s dividend payout ratio is 78.65%.

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.