Bank of America Corp DE Raises Holdings in Bank of Hawaii Corporation $BOH

Key Points

• Bank of America significantly increased its Bank of Hawaii stake by 254.4% in the first quarter, bringing its holdings to 360,138 shares valued at approximately $26.7 million. Institutional investors and hedge funds collectively own 82.18% of BOH.
• Bank of Hawaii reported quarterly EPS of $1.47, slightly exceeding analysts’ $1.46 estimate, while revenue of $196.9 million fell short of the $199.5 million forecast.
• The bank declared a quarterly dividend of $0.70 per share, representing an annualized payout of $2.80 and a 3.5% yield. Analysts’ consensus rating remains “Hold,” with an average price target of $85.

Bank of America Corp DE grew its stake in Bank of Hawaii Corporation (NYSE:BOH - Free Report) by 254.4% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 360,138 shares of the bank's stock after buying an additional 258,508 shares during the quarter. Bank of America Corp DE owned 0.91% of Bank of Hawaii worth $26,740,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. Vanguard Group Inc. grew its holdings in Bank of Hawaii by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 4,565,434 shares of the bank's stock worth $312,139,000 after acquiring an additional 26,821 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Bank of Hawaii by 2.1% during the 1st 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. grew its stake in shares of Bank of Hawaii by 122.3% during 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 in the last quarter. Goldman Sachs Group Inc. grew its stake 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 worth $59,166,000 after purchasing an additional 229,806 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in Bank of Hawaii by 0.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 512,552 shares of the bank's stock valued at $35,043,000 after buying an additional 1,592 shares in the last quarter. 82.18% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Bank of Hawaii

In related news, insider Marco A. Abbruzzese sold 2,441 shares of the firm's stock in a transaction dated Tuesday, August 4th. The stock was sold at an average price of $81.59, for a total transaction of $199,161.19. The transaction was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 1.97% of the company's stock.

Bank of Hawaii Price Performance

Shares of NYSE BOH opened at $80.27 on Monday. The stock has a market cap of $3.17 billion, a P/E ratio of 14.98, a P/E/G ratio of 0.91 and a beta of 0.71. Bank of Hawaii Corporation has a twelve month low of $59.36 and a twelve month high of $86.31. The stock has a 50 day moving average of $80.93 and a two-hundred day moving average of $78.17. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.33.

Bank of Hawaii (NYSE:BOH - Get Free Report) last announced its earnings results on Monday, July 27th. The bank reported $1.47 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.46 by $0.01. Bank of Hawaii had a net margin of 21.84% and a return on equity of 15.72%. The business had revenue of $196.90 million for the quarter, compared to analyst estimates of $199.51 million. During the same period last year, the firm posted $1.06 earnings per share. On average, research analysts forecast that Bank of Hawaii Corporation will post 5.88 earnings per share for the current year.

Bank of Hawaii Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Monday, August 31st will be paid a dividend of $0.70 per share. The ex-dividend date is Monday, August 31st. This represents a $2.80 annualized dividend and a dividend yield of 3.5%. Bank of Hawaii's dividend payout ratio is 52.24%.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on BOH. Barclays lowered their price objective on Bank of Hawaii from $88.00 to $85.00 and set an "equal weight" rating for the company in a research report on Tuesday, July 28th. DA Davidson boosted their target price on Bank of Hawaii from $80.00 to $85.00 and gave the stock a "neutral" rating in a research note on Tuesday, July 28th. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Bank of Hawaii in a report on Friday, July 24th. Wall Street Zen lowered shares of Bank of Hawaii from a "hold" rating to a "sell" rating in a research note on Saturday, April 25th. Finally, Benchmark reissued a "hold" rating on shares of Bank of Hawaii in a report on Tuesday, July 28th. Two investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $85.00.

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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