Dynamic Technology Lab Private Ltd Acquires New Stake in Bank of Hawaii Corporation $BOH

Dynamic Technology Lab Private Ltd acquired a new stake in shares of Bank of Hawaii Corporation (NYSE:BOH) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 12,890 shares of the bank’s stock, valued at approximately $870,000.

Other hedge funds have also recently made changes to their positions in the company. Kayne Anderson Rudnick Investment Management LLC grew its stake in shares of Bank of Hawaii by 23.7% during the 1st quarter. Kayne Anderson Rudnick Investment Management LLC now owns 2,180,744 shares of the bank’s stock worth $150,406,000 after acquiring an additional 418,055 shares during the period. Ameriprise Financial Inc. lifted its holdings in Bank of Hawaii by 9.2% during the first quarter. Ameriprise Financial Inc. now owns 706,105 shares of the bank’s stock valued at $48,700,000 after purchasing an additional 59,215 shares during the last quarter. 140 Summer Partners LP bought a new position in Bank of Hawaii during the first quarter worth about $41,633,000. Natixis Advisors LLC increased its stake in shares of Bank of Hawaii by 13.0% in the first quarter. Natixis Advisors LLC now owns 325,174 shares of the bank’s stock worth $22,427,000 after purchasing an additional 37,413 shares in the last quarter. Finally, Millennium Management LLC increased its stake in shares of Bank of Hawaii by 4,090.7% in the first quarter. Millennium Management LLC now owns 302,315 shares of the bank’s stock worth $20,851,000 after purchasing an additional 295,101 shares in the last quarter. 82.18% of the stock is currently owned by institutional investors.

Bank of Hawaii Trading Up 2.2%

Shares of BOH opened at $65.10 on Friday. Bank of Hawaii Corporation has a 1-year low of $57.44 and a 1-year high of $82.70. The company has a debt-to-equity ratio of 0.39, a current ratio of 0.70 and a quick ratio of 0.70. The company has a market capitalization of $2.59 billion, a P/E ratio of 15.95, a P/E/G ratio of 0.76 and a beta of 0.88. The firm’s 50 day simple moving average is $64.67 and its 200 day simple moving average is $66.24.

Bank of Hawaii (NYSE:BOH) last released its quarterly earnings results on Tuesday, October 28th. The bank reported $1.20 earnings per share for the quarter, beating analysts’ consensus estimates of $1.13 by $0.07. The business had revenue of $182.64 million for the quarter, compared to the consensus estimate of $180.95 million. Bank of Hawaii had a return on equity of 13.33% and a net margin of 17.41%.During the same quarter last year, the business posted $0.93 earnings per share. Sell-side analysts forecast that Bank of Hawaii Corporation will post 3.97 earnings per share for the current fiscal year.

Bank of Hawaii Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 12th. Shareholders of record on Friday, November 28th will be paid a $0.70 dividend. The ex-dividend date of this dividend is Friday, November 28th. This represents a $2.80 annualized dividend and a yield of 4.3%. Bank of Hawaii’s payout ratio is currently 68.63%.

Wall Street Analyst Weigh In

A number of analysts recently commented on the stock. Barclays upped 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 note on Tuesday, October 28th. Piper Sandler began coverage on Bank of Hawaii in a research report on Thursday, August 21st. They set a “neutral” rating and a $71.00 target price on the stock. Wall Street Zen upgraded Bank of Hawaii from a “sell” rating to a “hold” rating in a research report on Saturday, November 15th. Weiss Ratings restated a “hold (c)” rating on shares of Bank of Hawaii in a research note on Wednesday. Finally, DA Davidson reaffirmed a “neutral” rating and set a $70.00 target price on shares of Bank of Hawaii in a report on Tuesday, October 28th. One analyst has rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $73.20.

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.