Louisiana State Employees Retirement System Makes New Investment in Bank of Hawaii Corporation $BOH

Louisiana State Employees Retirement System purchased a new stake in shares of Bank of Hawaii Corporation (NYSE:BOH) during the first quarter, HoldingsChannel reports. The fund purchased 17,600 shares of the bank’s stock, valued at approximately $1,307,000.

Other large investors have also made changes to their positions in the company. Vanguard Group Inc. boosted its stake in shares of Bank of Hawaii by 0.6% in the fourth quarter. Vanguard Group Inc. now owns 4,565,434 shares of the bank’s stock worth $312,139,000 after acquiring an additional 26,821 shares during the period. Dimensional Fund Advisors LP raised its stake in Bank of Hawaii by 3.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,084,517 shares of the bank’s stock valued at $74,149,000 after purchasing an additional 35,065 shares during the period. Balyasny Asset Management L.P. raised its stake in Bank of Hawaii by 122.3% during the 3rd quarter. Balyasny Asset Management L.P. now owns 1,012,560 shares of the bank’s stock valued at $66,464,000 after purchasing an additional 557,148 shares during the period. Goldman Sachs Group Inc. lifted its holdings in Bank of Hawaii by 36.2% in the 4th quarter. Goldman Sachs Group Inc. now owns 865,384 shares of the bank’s stock worth $59,166,000 after purchasing an additional 229,806 shares in the last quarter. Finally, American Century Companies Inc. lifted its holdings in Bank of Hawaii by 0.3% in the 3rd quarter. American Century Companies Inc. now owns 655,639 shares of the bank’s stock worth $43,036,000 after purchasing an additional 2,175 shares in the last quarter. 82.18% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. Piper Sandler cut their price objective on shares of Bank of Hawaii from $84.00 to $78.00 and set a “neutral” rating for the company in a report on Thursday, April 2nd. Zacks Research downgraded shares of Bank of Hawaii from a “strong-buy” rating to a “hold” rating in a report on Monday, April 6th. Barclays upped their target price on shares of Bank of Hawaii from $83.00 to $86.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 7th. Keefe, Bruyette & Woods raised their target price on shares of Bank of Hawaii from $91.00 to $95.00 and gave the company an “outperform” rating in a research note on Tuesday, April 21st. Finally, DA Davidson lifted their price target on shares of Bank of Hawaii from $77.00 to $82.00 and gave the company a “neutral” rating in a report on Tuesday, April 21st. Three equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, Bank of Hawaii currently has an average rating of “Hold” and an average target price of $85.40.

Bank of Hawaii Price Performance

Shares of Bank of Hawaii stock opened at $82.64 on Friday. The stock has a 50 day moving average of $78.53 and a 200 day moving average of $75.79. Bank of Hawaii Corporation has a 12 month low of $59.36 and a 12 month high of $83.81. The firm has a market cap of $3.27 billion, a PE ratio of 16.70, a PEG ratio of 0.87 and a beta of 0.70. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 0.37.

Bank of Hawaii (NYSE:BOH) last released its quarterly earnings results on Monday, April 20th. The bank reported $1.30 earnings per share for the quarter, missing the consensus estimate of $1.33 by ($0.03). Bank of Hawaii had a net margin of 20.46% and a return on equity of 14.97%. The firm had revenue of $192.32 million for the quarter, compared to analysts’ expectations of $193.53 million. During the same quarter in the prior year, the business earned $0.97 EPS. On average, research analysts expect that Bank of Hawaii Corporation will post 5.91 EPS for the current fiscal year.

Bank of Hawaii Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 12th. Investors of record on Friday, May 29th were issued a $0.70 dividend. The ex-dividend date of this dividend was Friday, May 29th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.4%. Bank of Hawaii’s dividend payout ratio (DPR) is 56.57%.

Bank of Hawaii Profile

Bank of Hawaii (NYSE: BOH) is a regional commercial bank headquartered in Honolulu, Hawaii, with roots tracing back to its founding in 1897 by Charles Montague Cooke and Peter Cushman Jones. As one of the oldest financial institutions in the U.S. West Coast region, the bank has built a reputation for stability and community focus. It operates as the principal subsidiary of Bank of Hawaii Corporation, a publicly traded company on the New York Stock Exchange.

The bank offers a comprehensive suite of personal and business banking products and services.