Lord Abbett & CO. LLC Has $4.22 Million Position in Bank of Hawaii Co. (NYSE:BOH)

Lord Abbett & CO. LLC lessened its position in Bank of Hawaii Co. (NYSE:BOH) by 1.9% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 67,147 shares of the bank’s stock after selling 1,305 shares during the period. Lord Abbett & CO. LLC owned about 0.17% of Bank of Hawaii worth $4,215,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Geode Capital Management LLC grew its holdings in Bank of Hawaii by 1.2% during the third quarter. Geode Capital Management LLC now owns 908,303 shares of the bank’s stock worth $57,025,000 after purchasing an additional 10,357 shares during the period. Barclays PLC boosted its stake in shares of Bank of Hawaii by 91.2% during the 3rd quarter. Barclays PLC now owns 93,504 shares of the bank’s stock worth $5,870,000 after acquiring an additional 44,599 shares during the period. Y Intercept Hong Kong Ltd acquired a new position in shares of Bank of Hawaii during the 3rd quarter worth approximately $365,000. State Street Corp raised its stake in Bank of Hawaii by 5.0% in the 3rd quarter. State Street Corp now owns 2,244,649 shares of the bank’s stock valued at $140,897,000 after acquiring an additional 106,717 shares during the period. Finally, Stifel Financial Corp lifted its holdings in Bank of Hawaii by 1.2% during the 3rd quarter. Stifel Financial Corp now owns 68,757 shares of the bank’s stock valued at $4,316,000 after purchasing an additional 788 shares during the last quarter. 82.18% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

BOH has been the topic of several research reports. DA Davidson upped their price objective on shares of Bank of Hawaii from $65.00 to $74.00 and gave the company a “neutral” rating in a report on Tuesday, October 29th. Stephens initiated coverage on shares of Bank of Hawaii in a research note on Wednesday, November 27th. They issued an “overweight” rating and a $90.00 price target on the stock. Barclays raised their price objective on shares of Bank of Hawaii from $56.00 to $66.00 and gave the stock an “underweight” rating in a research report on Thursday, December 5th. Piper Sandler upped their target price on Bank of Hawaii from $61.00 to $66.00 and gave the company an “underweight” rating in a research report on Tuesday, October 29th. Finally, Keefe, Bruyette & Woods lifted their price target on Bank of Hawaii from $74.00 to $81.00 and gave the stock a “market perform” rating in a report on Wednesday, December 4th. Three research analysts have rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $71.83.

Bank of Hawaii Stock Performance

Shares of NYSE:BOH opened at $74.24 on Tuesday. Bank of Hawaii Co. has a 12-month low of $54.50 and a 12-month high of $82.70. The company’s 50 day moving average price is $73.64 and its two-hundred day moving average price is $66.38. The firm has a market cap of $2.95 billion, a PE ratio of 22.29, a PEG ratio of 4.86 and a beta of 1.03. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.42.

Bank of Hawaii (NYSE:BOH) last posted its quarterly earnings data on Monday, October 28th. The bank reported $0.93 EPS for the quarter, topping analysts’ consensus estimates 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 quarter last year, the company earned $1.17 EPS. Equities research analysts predict that Bank of Hawaii Co. will post 3.52 earnings per share for the current year.

Bank of Hawaii Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Friday, November 29th were paid a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 3.77%. The ex-dividend date of this dividend was Friday, November 29th. Bank of Hawaii’s dividend payout ratio (DPR) is presently 84.08%.

Insider Buying and Selling

In other news, insider Matthew Emerson sold 1,355 shares of the business’s stock in a transaction that occurred on Wednesday, October 30th. The shares were sold at an average price of $72.27, for a total value of $97,925.85. Following the completion of the transaction, the insider now directly owns 13,717 shares in the company, valued at approximately $991,327.59. The trade was a 8.99 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.11% of the stock is currently owned by company insiders.

Bank of Hawaii Profile

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.