Nuveen LLC Acquires New Stake in Bank of Hawaii Corporation $BOH

Key Points

• Nuveen LLC purchased 102,449 shares of Bank of Hawaii Corporation valued at approximately $7,066,000, increasing their ownership to around 0.26% by the end of the last quarter.
• Bank of Hawaii reported $1.06 earnings per share (EPS) for the last quarter, beating expectations of $1.04, although their revenue was below analyst estimates.
• The bank declared a quarterly dividend of $0.70 per share, resulting in an annualized dividend of $2.80 with a yield of 4.1% for shareholders of record.

Nuveen LLC purchased a new stake in Bank of Hawaii Corporation (NYSE:BOH - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 102,449 shares of the bank's stock, valued at approximately $7,066,000. Nuveen LLC owned about 0.26% of Bank of Hawaii as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in BOH. Balyasny Asset Management L.P. bought a new position in Bank of Hawaii in the fourth quarter valued at about $54,309,000. Ameriprise Financial Inc. boosted its stake in shares of Bank of Hawaii by 558.1% in the 4th quarter. Ameriprise Financial Inc. now owns 646,890 shares of the bank's stock valued at $46,084,000 after purchasing an additional 548,599 shares during the last quarter. Freestone Grove Partners LP bought a new position in shares of Bank of Hawaii in the 4th quarter valued at about $13,678,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in Bank of Hawaii by 168.6% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 245,495 shares of the bank's stock valued at $17,489,000 after acquiring an additional 154,107 shares during the last quarter. Finally, Squarepoint Ops LLC boosted its stake in Bank of Hawaii by 168.5% in the fourth quarter. Squarepoint Ops LLC now owns 121,053 shares of the bank's stock valued at $8,624,000 after acquiring an additional 75,961 shares during the last quarter. Institutional investors own 82.18% of the company's stock.

Bank of Hawaii Trading Up 0.5%

Shares of NYSE BOH traded up $0.32 during midday trading on Wednesday, reaching $68.84. 246,621 shares of the stock were exchanged, compared to its average volume of 412,600. The business has a 50-day simple moving average of $66.57 and a two-hundred day simple moving average of $67.35. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.70 and a quick ratio of 0.70. The company has a market capitalization of $2.74 billion, a price-to-earnings ratio of 18.07, a P/E/G ratio of 0.88 and a beta of 0.80. Bank of Hawaii Corporation has a 12 month low of $57.44 and a 12 month high of $82.70.

Bank of Hawaii (NYSE:BOH - Get Free Report) last posted its earnings results on Monday, July 28th. The bank reported $1.06 earnings per share for the quarter, topping the consensus estimate of $1.04 by $0.02. The firm had revenue of $174.48 million for the quarter, compared to analyst estimates of $177.82 million. Bank of Hawaii had a return on equity of 12.67% and a net margin of 16.30%.During the same period in the previous year, the company posted $0.81 earnings per share. As a group, equities research analysts expect that Bank of Hawaii Corporation will post 3.97 EPS for the current year.

Bank of Hawaii Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Friday, August 29th will be paid a $0.70 dividend. The ex-dividend date of this dividend is Friday, August 29th. This represents a $2.80 dividend on an annualized basis and a yield of 4.1%. Bank of Hawaii's payout ratio is presently 73.49%.

Analysts Set New Price Targets

A number of brokerages have issued reports on BOH. Barclays raised their price objective on shares of Bank of Hawaii from $67.00 to $68.00 and gave the company an "underweight" rating in a research note on Tuesday, July 8th. Stephens reduced their price target on Bank of Hawaii from $78.00 to $76.00 and set an "overweight" rating on the stock in a research report on Tuesday, July 29th. Finally, Piper Sandler assumed coverage on Bank of Hawaii in a report on Thursday, August 21st. They set a "neutral" rating and a $71.00 target price on the stock. One investment analyst has rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $75.00.

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.