Rafferty Asset Management LLC Has $6.68 Million Holdings in Bank of Hawaii Co. (NYSE:BOH)

Rafferty Asset Management LLC lessened its position in shares of Bank of Hawaii Co. (NYSE:BOHFree Report) by 11.2% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 92,205 shares of the bank’s stock after selling 11,669 shares during the quarter. Rafferty Asset Management LLC owned approximately 0.23% of Bank of Hawaii worth $6,681,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the company. Norges Bank acquired a new stake in shares of Bank of Hawaii during the 4th quarter worth approximately $29,508,000. North Reef Capital Management LP bought a new position in shares of Bank of Hawaii in the 3rd quarter worth $8,479,000. Epoch Investment Partners Inc. bought a new position in shares of Bank of Hawaii in the 3rd quarter worth $6,404,000. International Assets Investment Management LLC bought a new position in shares of Bank of Hawaii in the 4th quarter worth $8,952,000. Finally, Natixis Advisors L.P. lifted its holdings in shares of Bank of Hawaii by 27.9% in the 3rd quarter. Natixis Advisors L.P. now owns 283,455 shares of the bank’s stock worth $14,085,000 after purchasing an additional 61,890 shares in the last quarter. Institutional investors and hedge funds own 82.18% of the company’s stock.

Bank of Hawaii Trading Up 0.9 %

Shares of BOH opened at $56.55 on Thursday. The business has a 50-day moving average of $58.75 and a 200 day moving average of $62.33. Bank of Hawaii Co. has a fifty-two week low of $39.02 and a fifty-two week high of $75.19. The firm has a market cap of $2.25 billion, a P/E ratio of 14.57 and a beta of 1.07. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.70 and a current ratio of 0.70.

Bank of Hawaii (NYSE:BOHGet Free Report) last announced its quarterly earnings data on Friday, April 26th. The bank reported $0.87 earnings per share for the quarter, missing the consensus estimate of $0.92 by ($0.05). Bank of Hawaii had a return on equity of 13.25% and a net margin of 15.91%. The firm had revenue of $252.64 million during the quarter, compared to analysts’ expectations of $160.79 million. During the same period last year, the business posted $1.14 EPS. As a group, research analysts forecast that Bank of Hawaii Co. will post 3.51 EPS for the current year.

Bank of Hawaii Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 14th. Shareholders of record on Friday, May 31st will be issued a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 4.95%. The ex-dividend date of this dividend is Friday, May 31st. Bank of Hawaii’s payout ratio is presently 72.16%.

Analyst Upgrades and Downgrades

BOH has been the topic of a number of recent research reports. Jefferies Financial Group cut their target price on Bank of Hawaii from $67.00 to $62.00 and set a “hold” rating on the stock in a report on Monday, April 8th. Piper Sandler cut their target price on Bank of Hawaii from $65.00 to $60.00 and set a “neutral” rating on the stock in a report on Tuesday, April 23rd. Barclays dropped their price objective on Bank of Hawaii from $51.00 to $50.00 and set an “underweight” rating on the stock in a research note on Tuesday, April 23rd. StockNews.com upgraded Bank of Hawaii to a “sell” rating in a research note on Thursday, May 30th. Finally, Keefe, Bruyette & Woods raised their price objective on Bank of Hawaii from $55.00 to $58.00 and gave the company an “underperform” rating in a research note on Tuesday, April 23rd. Four investment analysts have rated the stock with a sell rating and two have assigned a hold rating to the stock. According to MarketBeat.com, Bank of Hawaii presently has a consensus rating of “Reduce” and an average price target of $52.20.

View Our Latest Analysis on Bank of Hawaii

Bank of Hawaii Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Bank of Hawaii (NYSE:BOH)

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