Envestnet Asset Management Inc. Acquires 27,575 Shares of Bank of Hawaii Corporation (NYSE:BOH)

Envestnet Asset Management Inc. raised its holdings in Bank of Hawaii Corporation (NYSE:BOH) by 18.1% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 180,300 shares of the bank’s stock after acquiring an additional 27,575 shares during the quarter. Envestnet Asset Management Inc. owned about 0.45% of Bank of Hawaii worth $12,435,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of BOH. Versant Capital Management Inc grew its holdings in Bank of Hawaii by 80.2% during the first quarter. Versant Capital Management Inc now owns 391 shares of the bank’s stock valued at $27,000 after purchasing an additional 174 shares during the period. Private Trust Co. NA boosted its position in shares of Bank of Hawaii by 18,333.3% during the first quarter. Private Trust Co. NA now owns 553 shares of the bank’s stock worth $38,000 after purchasing an additional 550 shares in the last quarter. Golden State Wealth Management LLC grew its holdings in shares of Bank of Hawaii by 110.5% in the 1st quarter. Golden State Wealth Management LLC now owns 581 shares of the bank’s stock valued at $40,000 after buying an additional 305 shares during the period. Public Employees Retirement System of Ohio bought a new stake in shares of Bank of Hawaii in the 4th quarter valued at $49,000. Finally, Headlands Technologies LLC raised its stake in Bank of Hawaii by 285.8% during the 4th quarter. Headlands Technologies LLC now owns 949 shares of the bank’s stock worth $68,000 after buying an additional 703 shares during the period. Institutional investors and hedge funds own 82.18% of the company’s stock.

Analysts Set New Price Targets

Separately, Barclays boosted their price objective on shares of Bank of Hawaii from $67.00 to $68.00 and gave the company an “underweight” rating in a research report on Tuesday, July 8th. Two analysts have rated the stock with a sell rating, two have issued a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $77.20.

Insider Activity

In other news, insider Taryn L. Salmon sold 1,652 shares of Bank of Hawaii stock in a transaction dated Thursday, April 24th. The stock was sold at an average price of $66.15, for a total transaction of $109,279.80. Following the sale, the insider directly owned 6,442 shares of the company’s stock, valued at approximately $426,138.30. This trade represents a 20.41% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 2.07% of the company’s stock.

Bank of Hawaii Price Performance

Shares of Bank of Hawaii stock opened at $67.54 on Friday. The company has a 50-day simple moving average of $67.88 and a two-hundred day simple moving average of $68.66. Bank of Hawaii Corporation has a twelve month low of $57.45 and a twelve month high of $82.70. The stock has a market capitalization of $2.68 billion, a price-to-earnings ratio of 18.97, a price-to-earnings-growth ratio of 1.09 and a beta of 0.77. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.41.

Bank of Hawaii (NYSE:BOH) last announced its quarterly earnings data on Monday, April 21st. The bank reported $0.97 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.89 by $0.08. Bank of Hawaii had a net margin of 15.12% and a return on equity of 12.16%. The firm had revenue of $169.87 million for the quarter, compared to the consensus estimate of $168.65 million. During the same period in the prior year, the company posted $0.87 earnings per share. Analysts forecast that Bank of Hawaii Corporation will post 3.97 EPS for the current year.

Bank of Hawaii Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, June 13th. Shareholders of record on Friday, May 30th were paid a dividend of $0.70 per share. The ex-dividend date of this dividend was Friday, May 30th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 4.15%. Bank of Hawaii’s payout ratio is presently 78.65%.

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.