Illinois Municipal Retirement Fund Acquires 324 Shares of Bank of Hawaii Co. (NYSE:BOH)

Illinois Municipal Retirement Fund grew its position in shares of Bank of Hawaii Co. (NYSE:BOH) by 1.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 22,060 shares of the bank’s stock after acquiring an additional 324 shares during the period. Illinois Municipal Retirement Fund owned about 0.06% of Bank of Hawaii worth $1,572,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of BOH. Congress Asset Management Co. raised its stake in shares of Bank of Hawaii by 30.5% during the third quarter. Congress Asset Management Co. now owns 61,134 shares of the bank’s stock valued at $3,837,000 after acquiring an additional 14,286 shares during the last quarter. Crestwood Advisors Group LLC bought a new position in shares of Bank of Hawaii during the third quarter valued at about $207,000. GSA Capital Partners LLP raised its stake in shares of Bank of Hawaii by 284.3% during the third quarter. GSA Capital Partners LLP now owns 20,885 shares of the bank’s stock valued at $1,311,000 after acquiring an additional 15,450 shares during the last quarter. Oppenheimer Asset Management Inc. raised its stake in shares of Bank of Hawaii by 43.0% during the third quarter. Oppenheimer Asset Management Inc. now owns 8,309 shares of the bank’s stock valued at $522,000 after acquiring an additional 2,500 shares during the last quarter. Finally, Quest Partners LLC bought a new position in shares of Bank of Hawaii during the third quarter valued at about $1,823,000. 82.18% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, insider Taryn L. Salmon sold 449 shares of the stock in a transaction that occurred on Thursday, January 30th. The shares were sold at an average price of $74.97, for a total transaction of $33,661.53. Following the sale, the insider now owns 9,880 shares in the company, valued at $740,703.60. This represents a 4.35 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CAO Patrick M. Mcguirk sold 2,000 shares of the stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $75.08, for a total transaction of $150,160.00. Following the sale, the chief accounting officer now owns 9,173 shares in the company, valued at approximately $688,708.84. The trade was a 17.90 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 2.11% of the company’s stock.

Bank of Hawaii Price Performance

Shares of BOH opened at $72.19 on Friday. The stock has a market cap of $2.87 billion, a PE ratio of 20.86 and a beta of 1.04. 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 firm’s 50-day simple moving average is $71.93 and its two-hundred day simple moving average is $70.43.

Bank of Hawaii (NYSE:BOH) last announced its quarterly earnings data on Monday, January 27th. The bank reported $0.85 earnings per share for the quarter, missing analysts’ consensus estimates of $0.87 by ($0.02). Bank of Hawaii had a return on equity of 11.81% and a net margin of 14.47%. Analysts anticipate that Bank of Hawaii Co. will post 3.97 earnings per share for the current fiscal year.

Bank of Hawaii Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Friday, February 28th will be issued a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 3.88%. The ex-dividend date is Friday, February 28th. Bank of Hawaii’s dividend payout ratio (DPR) is presently 80.92%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. DA Davidson upped their price objective on shares of Bank of Hawaii from $75.00 to $79.00 and gave the company a “neutral” rating in a research note on Tuesday, January 28th. Barclays boosted their price target on shares of Bank of Hawaii from $56.00 to $66.00 and gave the company an “underweight” rating in a research report on Thursday, December 5th. Piper Sandler boosted their price target on shares of Bank of Hawaii from $66.00 to $68.00 and gave the company an “underweight” rating in a research report on Tuesday, January 28th. Keefe, Bruyette & Woods boosted their price target on shares of Bank of Hawaii from $74.00 to $81.00 and gave the company a “market perform” rating in a research report on Wednesday, December 4th. Finally, Stephens began coverage on shares of Bank of Hawaii in a research report on Wednesday, November 27th. They set an “overweight” rating and a $90.00 price target on the stock. Three analysts have rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $73.00.

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.