Lord Abbett & CO. LLC Sells 1,305 Shares of Bank of Hawaii Co. (NYSE:BOH)

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

Other institutional investors have also recently bought and sold shares of the company. State Street Corp grew its holdings in shares of Bank of Hawaii by 5.0% during the 3rd quarter. State Street Corp now owns 2,244,649 shares of the bank’s stock valued at $140,897,000 after purchasing an additional 106,717 shares during the last quarter. Victory Capital Management Inc. grew its stake in shares of Bank of Hawaii by 13.1% during the second quarter. Victory Capital Management Inc. now owns 1,634,909 shares of the bank’s stock worth $93,533,000 after buying an additional 189,878 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Bank of Hawaii by 2.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,511,420 shares of the bank’s stock worth $94,872,000 after buying an additional 35,187 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of Bank of Hawaii by 1.2% in the 3rd quarter. Geode Capital Management LLC now owns 908,303 shares of the bank’s stock valued at $57,025,000 after acquiring an additional 10,357 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings 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 valued at $45,167,000 after acquiring an additional 98,465 shares in the last quarter. Institutional investors and hedge funds own 82.18% of the company’s stock.

Bank of Hawaii Stock Performance

NYSE:BOH opened at $74.24 on Tuesday. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.71 and a current ratio of 0.71. Bank of Hawaii Co. has a fifty-two week low of $54.50 and a fifty-two week high of $82.70. The company has a 50 day simple moving average of $73.64 and a two-hundred day simple moving average of $66.38. The company has a market capitalization of $2.95 billion, a PE ratio of 22.29, a P/E/G ratio of 4.86 and a beta of 1.03.

Bank of Hawaii (NYSE:BOH) last posted its quarterly earnings data on Monday, October 28th. The bank reported $0.93 earnings per share for the quarter, topping the consensus estimate of $0.82 by $0.11. The company had revenue of $265.76 million during the quarter, compared to analysts’ expectations of $160.29 million. Bank of Hawaii had a net margin of 13.76% and a return on equity of 11.33%. During the same period in the prior year, the company posted $1.17 earnings per share. Research analysts anticipate that Bank of Hawaii Co. will post 3.52 earnings per share for the current year.

Bank of Hawaii Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Friday, November 29th were given a $0.70 dividend. This represents a $2.80 annualized dividend and a dividend 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%.

Analyst Upgrades and Downgrades

BOH has been the subject of a number of recent research reports. Keefe, Bruyette & Woods upped their target price 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. Barclays upped their price objective on Bank of Hawaii from $56.00 to $66.00 and gave the company an “underweight” rating in a research note on Thursday, December 5th. DA Davidson lifted their target price on shares of Bank of Hawaii from $65.00 to $74.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 29th. Piper Sandler boosted their target price on shares of Bank of Hawaii from $61.00 to $66.00 and gave the stock an “underweight” rating in a report on Tuesday, October 29th. Finally, Stephens started coverage on shares of Bank of Hawaii in a research note on Wednesday, November 27th. They set an “overweight” rating and a $90.00 price target for the company. Three 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 an average rating of “Hold” and an average target price of $71.83.

Insider Activity

In other news, insider Matthew Emerson sold 1,355 shares of Bank of Hawaii stock in a transaction 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 sale, the insider now owns 13,717 shares in the company, valued at $991,327.59. The trade was a 8.99 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 2.11% of the stock is owned by company insiders.

Bank of Hawaii Company 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.