Ameriprise Financial Inc. Grows Stake in Bank of Hawaii Corporation $BOH

Key Points

• Ameriprise Financial Inc. increased its stake in Bank of Hawaii Corporation by 9.2%, owning 706,105 shares valued at approximately $48.7 million.
• Bank of Hawaii reported $1.06 earnings per share (EPS) for the last quarter, exceeding analysts' expectations, despite total revenue falling short of forecasts.
• The bank announced a quarterly dividend of $0.70 per share, translating to an annual yield of 4.1%, payable to shareholders on September 15th.

Ameriprise Financial Inc. boosted its position in shares of Bank of Hawaii Corporation (NYSE:BOH - Free Report) by 9.2% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 706,105 shares of the bank's stock after acquiring an additional 59,215 shares during the quarter. Ameriprise Financial Inc. owned 1.78% of Bank of Hawaii worth $48,700,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Versant Capital Management Inc boosted its position in Bank of Hawaii by 80.2% in the first quarter. Versant Capital Management Inc now owns 391 shares of the bank's stock worth $27,000 after purchasing an additional 174 shares during the last quarter. Private Trust Co. NA lifted its stake in shares of Bank of Hawaii by 18,333.3% in the 1st quarter. Private Trust Co. NA now owns 553 shares of the bank's stock worth $38,000 after purchasing an additional 550 shares during the period. Golden State Wealth Management LLC boosted its holdings in shares of Bank of Hawaii by 110.5% in the first quarter. Golden State Wealth Management LLC now owns 581 shares of the bank's stock worth $40,000 after buying an additional 305 shares during the last quarter. Public Employees Retirement System of Ohio purchased a new position in shares of Bank of Hawaii in the fourth quarter worth approximately $49,000. Finally, CWM LLC grew its position in Bank of Hawaii by 31.9% during the first quarter. CWM LLC now owns 1,643 shares of the bank's stock valued at $113,000 after buying an additional 397 shares during the period. Institutional investors own 82.18% of the company's stock.

Bank of Hawaii Stock Up 0.5%

BOH opened at $68.84 on Thursday. The stock has a market cap of $2.74 billion, a price-to-earnings ratio of 18.07, a price-to-earnings-growth ratio of 0.88 and a beta of 0.80. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.70 and a current ratio of 0.70. The firm's fifty day moving average is $66.57 and its 200 day moving average is $67.35. Bank of Hawaii Corporation has a fifty-two week low of $57.44 and a fifty-two week high of $82.70.

Bank of Hawaii (NYSE:BOH - Get Free Report) last issued its quarterly earnings results on Monday, July 28th. The bank reported $1.06 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.04 by $0.02. Bank of Hawaii had a return on equity of 12.67% and a net margin of 16.30%.The business had revenue of $174.48 million during the quarter, compared to analyst estimates of $177.82 million. During the same quarter in the prior year, the business posted $0.81 EPS. On average, sell-side analysts forecast that Bank of Hawaii Corporation will post 3.97 earnings per share for the current fiscal year.

Bank of Hawaii Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Friday, August 29th will be paid a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 4.1%. The ex-dividend date of this dividend is Friday, August 29th. Bank of Hawaii's dividend payout ratio (DPR) is 73.49%.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on BOH. Barclays increased their price target on shares of Bank of Hawaii from $67.00 to $68.00 and gave the stock an "underweight" rating in a research report on Tuesday, July 8th. Stephens decreased their target price on Bank of Hawaii from $78.00 to $76.00 and set an "overweight" rating on the stock in a 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 price target for the company. One analyst has rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Bank of Hawaii has an average rating of "Hold" and a consensus target price of $75.00.

Bank of Hawaii Company Profile

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.

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