Holocene Advisors LP Invests $1.36 Million in Bank of Hawaii Co. (NYSE:BOH)

Holocene Advisors LP acquired a new stake in shares of Bank of Hawaii Co. (NYSE:BOH) during the 3rd quarter, HoldingsChannel.com reports. The firm acquired 21,581 shares of the bank’s stock, valued at approximately $1,355,000.

Several other hedge funds also recently modified their holdings of the company. Point72 Asia Singapore Pte. Ltd. bought a new position in Bank of Hawaii in the second quarter valued at about $106,000. Point72 DIFC Ltd bought a new position in Bank of Hawaii in the 2nd quarter valued at approximately $119,000. UMB Bank n.a. raised its holdings in Bank of Hawaii by 5,508.3% in the 3rd quarter. UMB Bank n.a. now owns 2,692 shares of the bank’s stock valued at $169,000 after buying an additional 2,644 shares during the last quarter. Rothschild Investment LLC acquired a new stake in Bank of Hawaii during the 2nd quarter worth approximately $172,000. Finally, Bridges Investment Management Inc. bought a new stake in Bank of Hawaii during the 2nd quarter worth approximately $205,000. Institutional investors and hedge funds own 82.18% of the company’s stock.

Bank of Hawaii Stock Down 0.2 %

Shares of NYSE:BOH opened at $76.42 on Friday. Bank of Hawaii Co. has a 1 year low of $54.50 and a 1 year high of $82.70. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.71 and a quick ratio of 0.71. The business’s 50-day moving average is $72.15 and its 200-day moving average is $65.52. The company has a market capitalization of $3.04 billion, a price-to-earnings ratio of 22.95, a P/E/G ratio of 5.12 and a beta of 1.03.

Bank of Hawaii (NYSE:BOH) last issued its quarterly earnings results on Monday, October 28th. The bank reported $0.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.82 by $0.11. The firm had revenue of $265.76 million for the quarter, compared to analyst estimates of $160.29 million. Bank of Hawaii had a return on equity of 11.33% and a net margin of 13.76%. During the same period in the previous year, the firm earned $1.17 earnings per share. Equities research analysts predict that Bank of Hawaii Co. will post 3.52 earnings per share for the current year.

Bank of Hawaii Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 29th will be paid a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 3.66%. The ex-dividend date of this dividend is Friday, November 29th. Bank of Hawaii’s dividend payout ratio is presently 84.08%.

Insiders Place Their Bets

In other Bank of Hawaii news, insider Matthew Emerson sold 1,355 shares of the stock in a transaction that occurred on Wednesday, October 30th. The stock was sold at an average price of $72.27, for a total value of $97,925.85. Following the transaction, the insider now owns 13,717 shares in the company, valued at approximately $991,327.59. This represents a 8.99 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 2.11% of the company’s stock.

Wall Street Analyst Weigh In

BOH has been the topic of a number of recent research reports. Keefe, Bruyette & Woods lifted their price target on shares of Bank of Hawaii from $74.00 to $81.00 and gave the stock a “market perform” rating in a report on Wednesday. Piper Sandler lifted their target price on Bank of Hawaii from $61.00 to $66.00 and gave the stock an “underweight” rating in a report on Tuesday, October 29th. DA Davidson increased their price target on Bank of Hawaii from $65.00 to $74.00 and gave the company a “neutral” rating in a research note on Tuesday, October 29th. Barclays lifted their price objective on Bank of Hawaii from $56.00 to $66.00 and gave the stock an “underweight” rating in a research note on Thursday. Finally, Stephens initiated coverage on shares of Bank of Hawaii in a research report on Wednesday, November 27th. They set an “overweight” rating and a $90.00 target price for the company. Three research analysts have rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $71.83.

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.