Point72 DIFC Ltd Makes New $119,000 Investment in Bank of Hawaii Co. (NYSE:BOH)

Point72 DIFC Ltd purchased a new position in shares of Bank of Hawaii Co. (NYSE:BOH) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 2,084 shares of the bank’s stock, valued at approximately $119,000.

Other hedge funds also recently modified their holdings of the company. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Bank of Hawaii during the second quarter valued at about $106,000. Rothschild Investment LLC purchased a new position in shares of Bank of Hawaii during the second quarter worth about $172,000. Bridges Investment Management Inc. bought a new position in shares of Bank of Hawaii in the second quarter worth approximately $205,000. Algert Global LLC purchased a new stake in Bank of Hawaii in the second quarter valued at approximately $229,000. Finally, Central Pacific Bank Trust Division bought a new stake in Bank of Hawaii during the first quarter valued at approximately $244,000. Institutional investors own 82.18% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. DA Davidson increased their price target on shares of Bank of Hawaii from $63.00 to $70.00 and gave the stock a “neutral” rating in a report on Monday, July 29th. Jefferies Financial Group increased their target price on Bank of Hawaii from $53.00 to $54.00 and gave the company a “hold” rating in a research note on Wednesday, July 3rd. Piper Sandler lowered Bank of Hawaii from a “neutral” rating to an “underweight” rating and reduced their price objective for the company from $70.00 to $61.00 in a research report on Monday, August 12th. Finally, Keefe, Bruyette & Woods upgraded Bank of Hawaii from an “underperform” rating to a “market perform” rating and lifted their price objective for the stock from $60.00 to $67.00 in a report on Wednesday. Three research analysts have rated the stock with a sell rating and three have given a hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $60.40.

Bank of Hawaii Stock Performance

NYSE:BOH opened at $61.33 on Wednesday. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.44. Bank of Hawaii Co. has a twelve month low of $45.56 and a twelve month high of $75.19. The stock has a market cap of $2.44 billion, a P/E ratio of 15.81 and a beta of 1.05. The firm’s fifty day simple moving average is $65.12 and its 200 day simple moving average is $61.14.

Bank of Hawaii (NYSE:BOH) last released its quarterly earnings results on Monday, July 22nd. The bank reported $0.81 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.85 by ($0.04). Bank of Hawaii had a return on equity of 12.25% and a net margin of 14.54%. The company had revenue of $255.62 million during the quarter, compared to the consensus estimate of $157.12 million. During the same period in the previous year, the company earned $1.12 earnings per share. As a group, research analysts predict that Bank of Hawaii Co. will post 3.45 EPS for the current year.

Bank of Hawaii Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Friday, August 30th were paid a $0.70 dividend. The ex-dividend date of this dividend was Friday, August 30th. This represents a $2.80 annualized dividend and a dividend yield of 4.57%. Bank of Hawaii’s payout ratio is 72.16%.

Insider Activity at Bank of Hawaii

In other news, insider Taryn L. Salmon sold 2,364 shares of Bank of Hawaii stock in a transaction that occurred on Thursday, July 25th. The shares were sold at an average price of $67.80, for a total transaction of $160,279.20. Following the completion of the transaction, the insider now directly owns 10,785 shares in the company, valued at $731,223. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 2.11% of the stock is currently owned by corporate insiders.

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.