Harrington Investments INC Buys 530 Shares of Bank of Hawaii Co. (NYSE:BOH)

Posted by Stacy Sanders on Mar 19th, 2023

Harrington Investments INC boosted its stake in Bank of Hawaii Co. (NYSE:BOH – Get Rating) by 3.1% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 17,721 shares of the bank’s stock after acquiring an additional 530 shares during the period. Harrington Investments INC’s holdings in Bank of Hawaii were worth $1,374,000 as of its most recent filing with the SEC.

Several other hedge funds have also added to or reduced their stakes in the stock. Vanguard Group Inc. raised its position in Bank of Hawaii by 1.3% in the third quarter. Vanguard Group Inc. now owns 3,977,581 shares of the bank’s stock worth $302,774,000 after acquiring an additional 49,163 shares during the period. State Street Corp raised its position in shares of Bank of Hawaii by 10.9% in the first quarter. State Street Corp now owns 1,777,119 shares of the bank’s stock valued at $149,136,000 after purchasing an additional 174,889 shares during the period. Charles Schwab Investment Management Inc. raised its position in shares of Bank of Hawaii by 7.8% in the first quarter. Charles Schwab Investment Management Inc. now owns 770,983 shares of the bank’s stock valued at $64,701,000 after purchasing an additional 55,707 shares during the period. Massachusetts Financial Services Co. MA raised its position in shares of Bank of Hawaii by 2.6% in the second quarter. Massachusetts Financial Services Co. MA now owns 755,161 shares of the bank’s stock valued at $56,184,000 after purchasing an additional 19,211 shares during the period. Finally, Boston Trust Walden Corp raised its position in shares of Bank of Hawaii by 140.0% in the third quarter. Boston Trust Walden Corp now owns 576,762 shares of the bank’s stock valued at $43,903,000 after purchasing an additional 336,460 shares during the period. Institutional investors own 74.29% of the company’s stock.

Bank of Hawaii Stock Performance

Shares of NYSE BOH traded down $1.60 during midday trading on Friday, hitting $51.08. The company’s stock had a trading volume of 1,877,746 shares, compared to its average volume of 720,122. The stock has a fifty day moving average price of $73.66 and a 200 day moving average price of $76.32. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.36. The firm has a market capitalization of $2.03 billion, a price-to-earnings ratio of 9.32, a P/E/G ratio of 1.32 and a beta of 1.01. Bank of Hawaii Co. has a one year low of $34.71 and a one year high of $87.27.

Bank of Hawaii (NYSE:BOH – Get Rating) last posted its earnings results on Monday, January 23rd. The bank reported $1.50 earnings per share for the quarter, topping analysts’ consensus estimates of $1.42 by $0.08. The business had revenue of $213.49 million for the quarter, compared to analyst estimates of $181.09 million. Bank of Hawaii had a net margin of 29.91% and a return on equity of 19.31%. During the same quarter in the prior year, the firm posted $1.55 EPS. On average, research analysts forecast that Bank of Hawaii Co. will post 4.97 EPS for the current fiscal year.

Bank of Hawaii Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 14th. Investors of record on Tuesday, February 28th were issued a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 5.48%. The ex-dividend date of this dividend was Monday, February 27th. Bank of Hawaii’s dividend payout ratio (DPR) is presently 51.09%.

Insider Buying and Selling

In related news, CEO Peter S. Ho sold 7,000 shares of the company’s stock in a transaction that occurred on Friday, February 10th. The shares were sold at an average price of $76.40, for a total transaction of $534,800.00. Following the sale, the chief executive officer now owns 226,681 shares of the company’s stock, valued at approximately $17,318,428.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 2.06% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the stock. StockNews.com assumed coverage on shares of Bank of Hawaii in a research report on Thursday. They issued a “sell” rating on the stock. Compass Point lowered shares of Bank of Hawaii from a “buy” rating to a “neutral” rating and set a $71.00 price target on the stock. in a research report on Tuesday, January 24th.

About Bank of Hawaii

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Bank of Hawaii Corp. operates as a bank holding company, which engages in the provision of financial services. It operates through the following segments: Retail Banking, Commercial Banking, Investment Services and Private Banking, and Treasury and Other. The Retail Banking segment offers financial products and services to consumers and small businesses.