Louisiana State Employees Retirement System Invests $1.44 Million in Bank of Hawaii Co. (NYSE:BOH)

Louisiana State Employees Retirement System purchased a new position in Bank of Hawaii Co. (NYSE:BOH) in the fourth quarter, Holdings Channel.com reports. The firm purchased 19,900 shares of the bank’s stock, valued at approximately $1,442,000.

A number of other large investors have also recently made changes to their positions in BOH. JPMorgan Chase & Co. grew its stake in shares of Bank of Hawaii by 5.8% in the first quarter. JPMorgan Chase & Co. now owns 70,245 shares of the bank’s stock worth $5,895,000 after acquiring an additional 3,843 shares during the period. Raymond James Financial Services Advisors Inc. grew its stake in shares of Bank of Hawaii by 15.3% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 15,739 shares of the bank’s stock worth $1,322,000 after acquiring an additional 2,093 shares during the period. Cambridge Investment Research Advisors Inc. grew its stake in shares of Bank of Hawaii by 43.8% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 14,531 shares of the bank’s stock worth $1,219,000 after acquiring an additional 4,423 shares during the period. Private Advisor Group LLC grew its stake in shares of Bank of Hawaii by 6.1% in the first quarter. Private Advisor Group LLC now owns 8,757 shares of the bank’s stock worth $735,000 after acquiring an additional 501 shares during the period. Finally, MetLife Investment Management LLC grew its stake in shares of Bank of Hawaii by 32.7% in the first quarter. MetLife Investment Management LLC now owns 26,023 shares of the bank’s stock worth $2,184,000 after acquiring an additional 6,407 shares during the period. 82.18% of the stock is currently owned by institutional investors.

Bank of Hawaii Stock Performance

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

Bank of Hawaii (NYSE:BOH) last posted its quarterly earnings results on Monday, January 22nd. The bank reported $1.01 earnings per share for the quarter, topping analysts’ consensus estimates of $1.00 by $0.01. The business had revenue of $252.63 million during the quarter, compared to analyst estimates 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 period in the prior year, the business posted $1.50 earnings per share. Equities analysts forecast that Bank of Hawaii Co. will post 3.72 earnings per share for the current fiscal year.

Bank of Hawaii Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 14th. Shareholders of record on Thursday, February 29th were given a $0.70 dividend. The ex-dividend date was Wednesday, February 28th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 4.79%. Bank of Hawaii’s payout ratio is currently 67.47%.

Analysts Set New Price Targets

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

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.