State Treasurer State of Michigan trimmed its position in Bank of Hawaii Co. (NYSE:BOH) by 5.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 15,290 shares of the bank’s stock after selling 800 shares during the period. State Treasurer State of Michigan’s holdings in Bank of Hawaii were worth $1,310,000 as of its most recent SEC filing.
A number of other large investors have also recently bought and sold shares of the stock. SG Americas Securities LLC grew its position in Bank of Hawaii by 367.1% in the 4th quarter. SG Americas Securities LLC now owns 13,536 shares of the bank’s stock valued at $1,160,000 after buying an additional 10,638 shares during the last quarter. First American Bank grew its position in Bank of Hawaii by 6.1% in the 4th quarter. First American Bank now owns 36,689 shares of the bank’s stock valued at $3,144,000 after buying an additional 2,094 shares during the last quarter. Ingalls & Snyder LLC purchased a new position in Bank of Hawaii in the 4th quarter valued at $291,000. State of Alaska Department of Revenue purchased a new position in Bank of Hawaii in the 4th quarter valued at $214,000. Finally, Schwab Charles Investment Management Inc. grew its position in Bank of Hawaii by 6.0% in the 4th quarter. Schwab Charles Investment Management Inc. now owns 213,895 shares of the bank’s stock valued at $18,331,000 after buying an additional 12,033 shares during the last quarter. Hedge funds and other institutional investors own 77.21% of the company’s stock.
BOH has been the topic of a number of analyst reports. Compass Point upgraded shares of Bank of Hawaii from a “neutral” rating to a “buy” rating in a research report on Monday, December 18th. Morgan Stanley lifted their price objective on shares of Bank of Hawaii from $76.00 to $88.00 and gave the company an “underweight” rating in a research report on Wednesday, December 13th. Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $92.00 price objective on shares of Bank of Hawaii in a research report on Friday, December 22nd. Piper Jaffray Companies reiterated a “hold” rating and issued a $90.50 price objective on shares of Bank of Hawaii in a research report on Tuesday, October 24th. Finally, Barclays boosted their target price on shares of Bank of Hawaii from $85.00 to $92.00 and gave the stock an “equal weight” rating in a research report on Tuesday, January 2nd. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and one has assigned a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $91.92.
Shares of Bank of Hawaii Co. (NYSE:BOH) opened at $85.13 on Friday. The company has a market cap of $3,594.37, a price-to-earnings ratio of 19.18, a price-to-earnings-growth ratio of 1.92 and a beta of 0.85. Bank of Hawaii Co. has a 1 year low of $74.72 and a 1 year high of $89.09. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.66 and a current ratio of 0.66.
Bank of Hawaii (NYSE:BOH) last issued its earnings results on Monday, January 22nd. The bank reported $1.01 EPS for the quarter, missing the consensus estimate of $1.09 by ($0.08). The company had revenue of $160.63 million for the quarter, compared to analysts’ expectations of $162.90 million. Bank of Hawaii had a return on equity of 15.48% and a net margin of 26.80%. During the same quarter in the previous year, the firm posted $1.02 earnings per share. sell-side analysts predict that Bank of Hawaii Co. will post 5.19 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, March 14th. Shareholders of record on Wednesday, February 28th will be given a dividend of $0.52 per share. The ex-dividend date of this dividend is Tuesday, February 27th. This represents a $2.08 annualized dividend and a dividend yield of 2.44%. Bank of Hawaii’s payout ratio is currently 47.93%.
Bank of Hawaii announced that its Board of Directors has approved a stock repurchase program on Monday, October 23rd that authorizes the company to buyback $100.00 million in outstanding shares. This buyback authorization authorizes the bank to purchase shares of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board believes its shares are undervalued.
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About Bank of Hawaii
Bank of Hawaii Corporation is a bank holding company that operates through its subsidiary, Bank of Hawaii (the Bank). The Bank provides a range of financial products and services primarily to customers in Hawaii, Guam and other Pacific Islands. It operates in four segments: Retail Banking, Commercial Banking, Investment Services, and Treasury and Other.
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