KLP Kapitalforvaltning AS Has $567,000 Position in Bank of Hawaii Corporation $BOH

KLP Kapitalforvaltning AS increased its stake in shares of Bank of Hawaii Corporation (NYSE:BOH) by 10.5% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,400 shares of the bank’s stock after buying an additional 800 shares during the quarter. KLP Kapitalforvaltning AS’s holdings in Bank of Hawaii were worth $567,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the stock. DAVENPORT & Co LLC grew its position in Bank of Hawaii by 11.6% during the second quarter. DAVENPORT & Co LLC now owns 23,832 shares of the bank’s stock worth $1,609,000 after buying an additional 2,477 shares in the last quarter. State of Alaska Department of Revenue grew its position in Bank of Hawaii by 7.4% during the second quarter. State of Alaska Department of Revenue now owns 23,661 shares of the bank’s stock worth $1,597,000 after buying an additional 1,637 shares in the last quarter. Wealth Enhancement Advisory Services LLC acquired a new stake in Bank of Hawaii during the second quarter worth approximately $253,000. Strs Ohio acquired a new stake in Bank of Hawaii during the first quarter worth approximately $41,000. Finally, Intech Investment Management LLC grew its position in Bank of Hawaii by 35.8% during the first quarter. Intech Investment Management LLC now owns 19,808 shares of the bank’s stock worth $1,366,000 after buying an additional 5,227 shares in the last quarter. Institutional investors and hedge funds own 82.18% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the company. Piper Sandler assumed coverage on Bank of Hawaii in a research report on Thursday, August 21st. They set a “neutral” rating and a $71.00 price target on the stock. Weiss Ratings reissued a “hold (c)” rating on shares of Bank of Hawaii in a research report on Wednesday, October 8th. Stephens cut their target price on Bank of Hawaii from $78.00 to $76.00 and set an “overweight” rating for the company in a research note on Tuesday, July 29th. Finally, Barclays upped their target price on Bank of Hawaii from $67.00 to $68.00 and gave the stock an “underweight” rating in a research note on Tuesday, July 8th. One analyst has rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $75.00.

Bank of Hawaii Stock Up 2.0%

Shares of BOH opened at $61.02 on Friday. Bank of Hawaii Corporation has a 52 week low of $57.44 and a 52 week high of $82.70. The stock has a market capitalization of $2.43 billion, a price-to-earnings ratio of 16.02, a PEG ratio of 0.70 and a beta of 0.81. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.70 and a current ratio of 0.70. The stock has a fifty day moving average of $66.07 and a 200-day moving average of $66.24.

Bank of Hawaii (NYSE:BOH) last posted its quarterly earnings data on Monday, July 28th. The bank reported $1.06 earnings per share for the quarter, beating analysts’ consensus estimates of $1.04 by $0.02. The business had revenue of $174.48 million during the quarter, compared to the consensus estimate of $177.82 million. Bank of Hawaii had a return on equity of 12.67% and a net margin of 16.30%.During the same period in the prior year, the business posted $0.81 earnings per share. As a group, sell-side analysts anticipate that Bank of Hawaii Corporation will post 3.97 earnings per share for the current fiscal year.

Bank of Hawaii Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Friday, August 29th were issued a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 4.6%. The ex-dividend date was Friday, August 29th. Bank of Hawaii’s dividend payout ratio is presently 73.49%.

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.