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

Federated Hermes Inc. lifted its position in Bank of Hawaii Corporation (NYSE:BOH) by 1,736.0% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 35,380 shares of the bank’s stock after acquiring an additional 33,453 shares during the period. Federated Hermes Inc.’s holdings in Bank of Hawaii were worth $2,322,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Bank of Hawaii Price Performance

Shares of BOH opened at $76.27 on Thursday. Bank of Hawaii Corporation has a 1-year low of $57.44 and a 1-year high of $78.25. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.70 and a quick ratio of 0.70. The firm has a 50-day simple moving average of $70.37 and a two-hundred day simple moving average of $67.06. The stock has a market cap of $3.03 billion, a PE ratio of 16.51, a P/E/G ratio of 0.63 and a beta of 0.75.

Bank of Hawaii (NYSE:BOH) last issued its quarterly earnings results on Monday, January 26th. The bank reported $1.39 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.25 by $0.14. Bank of Hawaii had a net margin of 19.30% and a return on equity of 14.42%. The company had revenue of $189.65 million for the quarter, compared to analyst estimates of $184.83 million. During the same period in the prior year, the firm earned $0.85 earnings per share. As a group, analysts forecast that Bank of Hawaii Corporation will post 3.97 EPS for the current year.

Bank of Hawaii Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 13th. Shareholders of record on Friday, February 27th will be given a $0.70 dividend. 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 currently 60.61%.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the company. Wall Street Zen upgraded Bank of Hawaii from a “sell” rating to a “hold” rating in a report on Saturday, January 31st. Stephens reissued an “overweight” rating on shares of Bank of Hawaii in a research note on Tuesday, January 27th. DA Davidson raised their target price on Bank of Hawaii from $73.00 to $81.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 27th. Weiss Ratings reissued a “hold (c)” rating on shares of Bank of Hawaii in a research report on Monday, December 29th. Finally, Keefe, Bruyette & Woods upgraded shares of Bank of Hawaii from a “market perform” rating to an “outperform” rating and raised their price objective for the stock from $75.00 to $91.00 in a research report on Tuesday, January 27th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $81.80.

Insider Activity at Bank of Hawaii

In other news, CEO Peter S. Ho sold 15,000 shares of the company’s stock in a transaction on Friday, January 2nd. The stock was sold at an average price of $67.87, for a total transaction of $1,018,050.00. Following the sale, the chief executive officer owned 156,774 shares of the company’s stock, valued at approximately $10,640,251.38. This represents a 8.73% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.07% of the stock is currently owned by company insiders.

Bank of Hawaii Company 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.