13,800 Shares in Bank of Hawaii Corporation $BOH Bought by Canada Pension Plan Investment Board

Key Points

• Canada Pension Plan Investment Board acquired 13,800 shares of Bank of Hawaii, valued at approximately $1.125 million, while institutional investors collectively own 82.18% of the company.
• Analysts maintain a generally cautious outlook, with two Buy ratings and six Holds; the consensus rating is Hold with an $85 price target.
• Bank of Hawaii reported quarterly EPS of $1.47, slightly above estimates, and announced a quarterly dividend of $0.70 per share, equivalent to a 3.7% annualized yield.

Canada Pension Plan Investment Board acquired a new stake in shares of Bank of Hawaii Corporation (NYSE:BOH - Free Report) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 13,800 shares of the bank's stock, valued at approximately $1,125,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. BlackRock Inc. purchased a new position in shares of Bank of Hawaii during the 2nd quarter worth about $470,538,000. Vanguard Group Inc. raised its position in Bank of Hawaii by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 4,565,434 shares of the bank's stock worth $312,139,000 after purchasing an additional 26,821 shares during the period. Dimensional Fund Advisors LP lifted its stake in Bank of Hawaii by 2.1% in the first quarter. Dimensional Fund Advisors LP now owns 1,106,873 shares of the bank's stock worth $82,182,000 after purchasing an additional 22,356 shares during the last quarter. Balyasny Asset Management L.P. lifted its stake in Bank of Hawaii by 122.3% in the third quarter. Balyasny Asset Management L.P. now owns 1,012,560 shares of the bank's stock worth $66,464,000 after purchasing an additional 557,148 shares during the last quarter. Finally, Goldman Sachs Group Inc. boosted its position in shares of Bank of Hawaii by 36.2% during the fourth quarter. Goldman Sachs Group Inc. now owns 865,384 shares of the bank's stock valued at $59,166,000 after buying an additional 229,806 shares during the period. Hedge funds and other institutional investors own 82.18% of the company's stock.

Insider Buying and Selling at Bank of Hawaii

In other Bank of Hawaii news, insider Marco A. Abbruzzese sold 2,441 shares of the company's stock in a transaction on Tuesday, August 4th. The stock was sold at an average price of $81.59, for a total value of $199,161.19. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 1.97% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on BOH shares. Benchmark reaffirmed a "hold" rating on shares of Bank of Hawaii in a research note on Tuesday, July 28th. Keefe, Bruyette & Woods decreased their price target on Bank of Hawaii from $95.00 to $92.00 and set an "outperform" rating for the company in a research note on Monday, August 3rd. Weiss Ratings restated a "buy (b)" rating on shares of Bank of Hawaii in a report on Friday, July 24th. DA Davidson upped their price objective on Bank of Hawaii from $80.00 to $85.00 and gave the company a "neutral" rating in a research report on Tuesday, July 28th. Finally, Stephens lowered Bank of Hawaii from an "overweight" rating to an "equal weight" rating and set a $85.00 target price on the stock. in a research note on Thursday, August 6th. Two analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $85.00.

Bank of Hawaii Price Performance

Bank of Hawaii stock opened at $75.98 on Tuesday. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.70 and a quick ratio of 0.70. The stock has a market cap of $3.00 billion, a price-to-earnings ratio of 14.18, a price-to-earnings-growth ratio of 0.88 and a beta of 0.71. The firm has a 50-day moving average of $80.75 and a two-hundred day moving average of $78.26. Bank of Hawaii Corporation has a 1 year low of $59.36 and a 1 year high of $86.31.

Bank of Hawaii (NYSE:BOH - Get Free Report) last issued its earnings results on Monday, July 27th. The bank reported $1.47 EPS for the quarter, topping analysts' consensus estimates of $1.46 by $0.01. The business had revenue of $196.90 million for the quarter, compared to analyst estimates of $199.51 million. Bank of Hawaii had a net margin of 21.84% and a return on equity of 15.72%. During the same period last year, the company posted $1.06 earnings per share. On average, research analysts forecast that Bank of Hawaii Corporation will post 5.91 earnings per share for the current year.

Bank of Hawaii Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Monday, August 31st will be given a dividend of $0.70 per share. The ex-dividend date of this dividend is Monday, August 31st. This represents a $2.80 dividend on an annualized basis and a yield of 3.7%. Bank of Hawaii's payout ratio is 52.24%.

About Bank of Hawaii

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.

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