The Manufacturers Life Insurance Company Trims Stock Position in Bank of Hawaii Co. (NYSE:BOH)

The Manufacturers Life Insurance Company reduced its stake in shares of Bank of Hawaii Co. (NYSE:BOH) by 1.5% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 21,539 shares of the bank’s stock after selling 339 shares during the quarter. The Manufacturers Life Insurance Company owned approximately 0.05% of Bank of Hawaii worth $1,352,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in BOH. Arizona State Retirement System grew its position in shares of Bank of Hawaii by 1.9% in the 2nd quarter. Arizona State Retirement System now owns 11,134 shares of the bank’s stock worth $637,000 after buying an additional 210 shares during the period. Louisiana State Employees Retirement System grew its position in shares of Bank of Hawaii by 1.5% in the 2nd quarter. Louisiana State Employees Retirement System now owns 20,000 shares of the bank’s stock worth $1,144,000 after buying an additional 300 shares during the period. Harrington Investments INC grew its position in shares of Bank of Hawaii by 2.0% in the 2nd quarter. Harrington Investments INC now owns 19,706 shares of the bank’s stock worth $1,127,000 after buying an additional 394 shares during the period. Cerity Partners LLC grew its position in shares of Bank of Hawaii by 6.3% in the 3rd quarter. Cerity Partners LLC now owns 15,380 shares of the bank’s stock worth $965,000 after buying an additional 909 shares during the period. Finally, WINTON GROUP Ltd grew its position in shares of Bank of Hawaii by 8.7% in the 2nd quarter. WINTON GROUP Ltd now owns 16,029 shares of the bank’s stock worth $917,000 after buying an additional 1,286 shares during the period. 82.18% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Bank of Hawaii

In other Bank of Hawaii news, insider Matthew Emerson sold 1,355 shares of Bank of Hawaii stock in a transaction dated Wednesday, October 30th. The stock was sold at an average price of $72.27, for a total value of $97,925.85. Following the transaction, the insider now owns 13,717 shares in the company, valued at $991,327.59. The trade was a 8.99 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 2.47% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of analysts have recently weighed in on BOH shares. Barclays upped their target price on shares of Bank of Hawaii from $56.00 to $66.00 and gave the stock an “underweight” rating in a research report on Thursday, December 5th. Stephens began coverage on shares of Bank of Hawaii in a research report on Wednesday, November 27th. They set an “overweight” rating and a $90.00 price objective on the stock. DA Davidson increased their price objective on shares of Bank of Hawaii from $65.00 to $74.00 and gave the company a “neutral” rating in a research report on Tuesday, October 29th. Piper Sandler increased their price objective on shares of Bank of Hawaii from $61.00 to $66.00 and gave the company an “underweight” rating in a research report on Tuesday, October 29th. Finally, Keefe, Bruyette & Woods increased their price objective on shares of Bank of Hawaii from $74.00 to $81.00 and gave the company a “market perform” rating in a research report on Wednesday, December 4th. 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 company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $71.83.

Bank of Hawaii Trading Down 0.5 %

BOH stock opened at $75.40 on Wednesday. The firm has a fifty day moving average price of $72.69 and a 200 day moving average price of $65.88. Bank of Hawaii Co. has a fifty-two week low of $54.50 and a fifty-two week high of $82.70. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.71 and a current ratio of 0.71. The firm has a market cap of $3.00 billion, a PE ratio of 22.64, a price-to-earnings-growth ratio of 5.01 and a beta of 1.03.

Bank of Hawaii (NYSE:BOH) last issued its quarterly earnings results on Monday, October 28th. The bank reported $0.93 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.82 by $0.11. Bank of Hawaii had a return on equity of 11.33% and a net margin of 13.76%. The company had revenue of $265.76 million during the quarter, compared to the consensus estimate of $160.29 million. During the same period last year, the company earned $1.17 earnings per share. Sell-side analysts anticipate that Bank of Hawaii Co. will post 3.52 earnings per share for the current fiscal year.

Bank of Hawaii Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 29th will be issued a $0.70 dividend. The ex-dividend date is Friday, November 29th. This represents a $2.80 annualized dividend and a dividend yield of 3.71%. Bank of Hawaii’s payout ratio is currently 84.08%.

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.