Bank of Hawaii Corporation $BOH Shares Acquired by Federated Hermes Inc.

Federated Hermes Inc. lifted its holdings in Bank of Hawaii Corporation (NYSE:BOH) by 1,736.0% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 35,380 shares of the bank’s stock after purchasing an additional 33,453 shares during the quarter. Federated Hermes Inc. owned about 0.09% of Bank of Hawaii worth $2,322,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. DAVENPORT & Co LLC increased its position in shares of Bank of Hawaii by 11.6% in the 2nd quarter. DAVENPORT & Co LLC now owns 23,832 shares of the bank’s stock valued at $1,609,000 after acquiring an additional 2,477 shares during the period. Campbell & CO Investment Adviser LLC acquired a new position in shares of Bank of Hawaii in the second quarter valued at about $3,222,000. Capital Fund Management S.A. purchased a new position in shares of Bank of Hawaii in the second quarter worth about $2,238,000. Norges Bank acquired a new stake in shares of Bank of Hawaii during the second quarter worth about $30,569,000. Finally, KLP Kapitalforvaltning AS boosted its position in Bank of Hawaii by 10.5% in the second quarter. KLP Kapitalforvaltning AS now owns 8,400 shares of the bank’s stock valued at $567,000 after buying an additional 800 shares during the last quarter. 82.18% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, CEO Peter S. Ho sold 15,000 shares of Bank of Hawaii stock in a transaction dated Friday, January 2nd. The shares were sold at an average price of $67.87, for a total value of $1,018,050.00. Following the sale, the chief executive officer owned 156,774 shares in the company, valued at $10,640,251.38. This trade represents a 8.73% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 2.07% of the stock is currently owned by company insiders.

Bank of Hawaii Stock Performance

NYSE BOH opened at $76.27 on Thursday. The stock has a market capitalization of $3.03 billion, a price-to-earnings ratio of 16.51, a PEG ratio of 0.63 and a beta of 0.75. The stock has a 50-day moving average of $70.37 and a 200 day moving average of $67.06. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.37. Bank of Hawaii Corporation has a twelve month low of $57.44 and a twelve month high of $78.25.

Bank of Hawaii (NYSE:BOH) last posted its quarterly earnings data on Monday, January 26th. The bank reported $1.39 EPS for the quarter, beating analysts’ consensus estimates of $1.25 by $0.14. Bank of Hawaii had a return on equity of 14.42% and a net margin of 19.30%.The business had revenue of $189.65 million during the quarter, compared to analysts’ expectations of $184.83 million. During the same period in the previous year, the business earned $0.85 earnings per share. Sell-side analysts anticipate that Bank of Hawaii Corporation will post 3.97 EPS for the current fiscal year.

Bank of Hawaii Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 13th. Shareholders of record on Friday, February 27th will be issued a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 3.7%. The ex-dividend date of this dividend is Friday, February 27th. Bank of Hawaii’s dividend payout ratio (DPR) is presently 60.61%.

Wall Street Analysts Forecast Growth

BOH has been the subject of several research reports. DA Davidson lifted their price objective on shares of Bank of Hawaii from $73.00 to $81.00 and gave the company a “neutral” rating in a research note on Tuesday, January 27th. Keefe, Bruyette & Woods upgraded shares of Bank of Hawaii from a “market perform” rating to an “outperform” rating and boosted their target price for the company from $75.00 to $91.00 in a research report on Tuesday, January 27th. Zacks Research raised Bank of Hawaii from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, January 28th. Weiss Ratings reissued a “hold (c)” rating on shares of Bank of Hawaii in a report on Monday, December 29th. Finally, Wall Street Zen raised Bank of Hawaii from a “sell” rating to a “hold” rating in a report on Saturday, January 31st. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, Bank of Hawaii currently has an average rating of “Moderate Buy” and a consensus target price of $81.80.

Bank of Hawaii Profile

Bank of Hawaii (NYSE: BOH) is a regional commercial bank headquartered in Honolulu, Hawaii, with roots tracing back to its founding in 1897 by Charles Montague Cooke and Peter Cushman Jones. As one of the oldest financial institutions in the U.S. West Coast region, the bank has built a reputation for stability and community focus. It operates as the principal subsidiary of Bank of Hawaii Corporation, a publicly traded company on the New York Stock Exchange.

The bank offers a comprehensive suite of personal and business banking products and services.