Arete Wealth Advisors LLC Purchases New Position in Bank of Hawaii Co. (NYSE:BOH)

Arete Wealth Advisors LLC acquired a new position in shares of Bank of Hawaii Co. (NYSE:BOH) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 3,891 shares of the bank’s stock, valued at approximately $277,000.

Several other institutional investors have also modified their holdings of BOH. Norges Bank acquired a new stake in Bank of Hawaii during the 4th quarter worth $27,495,000. JPMorgan Chase & Co. grew its holdings in shares of Bank of Hawaii by 188.8% during the fourth quarter. JPMorgan Chase & Co. now owns 250,094 shares of the bank’s stock worth $17,817,000 after purchasing an additional 163,503 shares during the last quarter. State Street Corp increased its position in shares of Bank of Hawaii by 5.0% during the third quarter. State Street Corp now owns 2,244,649 shares of the bank’s stock worth $140,897,000 after purchasing an additional 106,717 shares in the last quarter. Congress Asset Management Co. increased its position in shares of Bank of Hawaii by 108.6% during the fourth quarter. Congress Asset Management Co. now owns 127,500 shares of the bank’s stock worth $9,083,000 after purchasing an additional 66,366 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of Bank of Hawaii by 4.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,571,512 shares of the bank’s stock valued at $111,955,000 after purchasing an additional 60,092 shares during the last quarter. Hedge funds and other institutional investors own 82.18% of the company’s stock.

Bank of Hawaii Trading Down 5.3 %

NYSE:BOH opened at $61.44 on Monday. Bank of Hawaii Co. has a 12-month low of $54.50 and a 12-month high of $82.70. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.42. The stock’s 50 day simple moving average is $70.87 and its 200-day simple moving average is $71.05. The firm has a market cap of $2.44 billion, a P/E ratio of 17.76 and a beta of 0.87.

Bank of Hawaii (NYSE:BOH) last posted its quarterly earnings data on Monday, January 27th. The bank reported $0.85 earnings per share for the quarter, missing analysts’ consensus estimates of $0.87 by ($0.02). Bank of Hawaii had a net margin of 14.47% and a return on equity of 11.81%. Equities analysts anticipate that Bank of Hawaii Co. will post 3.97 EPS for the current year.

Bank of Hawaii Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 28th were issued a dividend of $0.70 per share. The ex-dividend date was Friday, February 28th. This represents a $2.80 annualized dividend and a yield of 4.56%. Bank of Hawaii’s dividend payout ratio is currently 80.92%.

Insider Activity at Bank of Hawaii

In other news, insider Taryn L. Salmon sold 449 shares of the firm’s stock in a transaction that occurred on Thursday, January 30th. The stock was sold at an average price of $74.97, for a total value of $33,661.53. Following the completion of the sale, the insider now directly owns 9,880 shares of the company’s stock, valued at $740,703.60. This trade represents a 4.35 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Patrick M. Mcguirk sold 2,000 shares of Bank of Hawaii stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $75.08, for a total value of $150,160.00. Following the completion of the sale, the chief accounting officer now owns 9,173 shares in the company, valued at approximately $688,708.84. This trade represents a 17.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.07% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several research firms have commented on BOH. DA Davidson lifted their price target on Bank of Hawaii from $75.00 to $79.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 28th. Piper Sandler upped their price target on shares of Bank of Hawaii from $66.00 to $68.00 and gave the company an “underweight” rating in a research report on Tuesday, January 28th. Three analysts have rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $73.00.

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.