Congress Asset Management Co. Purchases 14,286 Shares of Bank of Hawaii Co. (NYSE:BOH)

Congress Asset Management Co. boosted its holdings in shares of Bank of Hawaii Co. (NYSE:BOH) by 30.5% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 61,134 shares of the bank’s stock after acquiring an additional 14,286 shares during the period. Congress Asset Management Co.’s holdings in Bank of Hawaii were worth $3,837,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also modified their holdings of the company. Swedbank AB bought a new stake in shares of Bank of Hawaii in the first quarter worth $43,673,000. Victory Capital Management Inc. boosted its stake in Bank of Hawaii by 13.1% in the 2nd quarter. Victory Capital Management Inc. now owns 1,634,909 shares of the bank’s stock valued at $93,533,000 after purchasing an additional 189,878 shares during the period. International Assets Investment Management LLC acquired a new position in shares of Bank of Hawaii in the third quarter valued at about $70,960,000. Dimensional Fund Advisors LP grew its position in shares of Bank of Hawaii by 14.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 789,486 shares of the bank’s stock worth $45,167,000 after purchasing an additional 98,465 shares in the last quarter. Finally, American Century Companies Inc. raised its holdings in Bank of Hawaii by 8.7% in the 2nd quarter. American Century Companies Inc. now owns 675,615 shares of the bank’s stock valued at $38,652,000 after acquiring an additional 54,078 shares in the last quarter. Institutional investors own 82.18% of the company’s stock.

Insider Activity at Bank of Hawaii

In other news, insider Matthew Emerson sold 1,355 shares of the stock in a transaction dated Wednesday, October 30th. The shares were sold at an average price of $72.27, for a total transaction of $97,925.85. Following the completion of the sale, the insider now directly owns 13,717 shares in the company, valued at approximately $991,327.59. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 2.11% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on BOH. Barclays lifted their price target on Bank of Hawaii from $50.00 to $56.00 and gave the company an “underweight” rating in a research note on Tuesday. Piper Sandler raised their price target on shares of Bank of Hawaii from $61.00 to $66.00 and gave the company an “underweight” rating in a research note on Tuesday. DA Davidson lifted their price objective on Bank of Hawaii from $65.00 to $74.00 and gave the stock a “neutral” rating in a research note on Tuesday. Finally, Keefe, Bruyette & Woods lifted their target price on shares of Bank of Hawaii from $67.00 to $74.00 and gave the stock a “market perform” rating in a research note on Tuesday. Three research analysts have rated the stock with a sell rating and three have assigned a hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $64.80.

Bank of Hawaii Price Performance

NYSE BOH opened at $72.37 on Friday. The firm’s 50-day simple moving average is $65.55 and its two-hundred day simple moving average is $62.16. Bank of Hawaii Co. has a 52 week low of $51.07 and a 52 week high of $75.19. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.42. The company has a market cap of $2.88 billion, a PE ratio of 21.73, a price-to-earnings-growth ratio of 7.61 and a beta of 1.02.

Bank of Hawaii (NYSE:BOH) last announced its quarterly earnings results on Monday, October 28th. The bank reported $0.93 earnings per share for the quarter, beating the consensus estimate of $0.82 by $0.11. Bank of Hawaii had a return on equity of 11.33% and a net margin of 13.76%. The firm had revenue of $265.76 million for the quarter, compared to analysts’ expectations of $160.29 million. During the same period in the prior year, the business posted $1.17 earnings per share. Research analysts predict that Bank of Hawaii Co. will post 3.57 earnings per share for the current year.

Bank of Hawaii Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Tuesday, October 29th will be paid a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 3.87%. The ex-dividend date is Tuesday, October 29th. Bank of Hawaii’s dividend payout ratio is currently 84.08%.

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.