Bank of America Corp DE Takes $28.07 Million Position in Bank of Hawaii Corporation $BOH

Key Points

• Bank of America acquired 344,506 shares of Bank of Hawaii during the second quarter, valued at approximately $28.07 million and representing about 0.87% of the company.
• Analyst sentiment remains cautious: two analysts rate the stock a Buy and six rate it Hold, producing a consensus “Hold” rating and an average price target of $85.
• Bank of Hawaii reported quarterly EPS of $1.47, slightly above estimates, and pays a quarterly dividend of $0.70, equivalent to a 3.9% annualized yield.

Bank of America Corp DE bought 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 13F filing with the Securities and Exchange Commission. The fund bought 344,506 shares of the bank's stock, valued at approximately $28,074,000. Bank of America Corp DE owned approximately 0.87% of Bank of Hawaii as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently bought and sold shares of the company. Freestone Grove Partners LP bought a new position in shares of Bank of Hawaii in the second quarter worth about $32,000. Global Retirement Partners LLC bought a new stake in Bank of Hawaii during the 2nd quarter valued at approximately $34,000. Western Wealth Management LLC purchased a new position in Bank of Hawaii in the 1st quarter worth approximately $33,000. SHP Wealth Management purchased a new position in Bank of Hawaii in the 4th quarter worth approximately $34,000. Finally, EverSource Wealth Advisors LLC boosted its stake in Bank of Hawaii by 63.9% in the 4th quarter. EverSource Wealth Advisors LLC now owns 800 shares of the bank's stock worth $55,000 after purchasing an additional 312 shares during the period. Institutional investors own 82.18% of the company's stock.

Analyst Ratings Changes

BOH has been the subject of several research reports. Stephens downgraded shares of Bank of Hawaii from an "overweight" rating to an "equal weight" rating and set a $85.00 price objective for the company. in a report on Thursday, August 6th. DA Davidson lifted their target price on Bank of Hawaii from $80.00 to $85.00 and gave the stock a "neutral" rating in a report on Tuesday, July 28th. Keefe, Bruyette & Woods decreased their target price on Bank of Hawaii from $95.00 to $92.00 and set an "outperform" rating on the stock in a research report on Monday, August 3rd. Weiss Ratings reiterated a "buy (b)" rating on shares of Bank of Hawaii in a research report on Friday, July 24th. Finally, Barclays cut their price target on Bank of Hawaii from $88.00 to $85.00 and set an "equal weight" rating for the company in a report on Tuesday, July 28th. Two analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $85.00.

Bank of Hawaii Price Performance

NYSE:BOH opened at $71.47 on Wednesday. The firm has a market capitalization of $2.82 billion, a price-to-earnings ratio of 13.33, a PEG ratio of 0.83 and a beta of 0.70. Bank of Hawaii Corporation has a 1 year low of $59.36 and a 1 year high of $86.31. The business has a 50 day simple moving average of $78.60 and a 200-day simple moving average of $77.96. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.70 and a quick ratio of 0.70.

Bank of Hawaii (NYSE:BOH - Get Free Report) last released its earnings results on Monday, July 27th. The bank reported $1.47 earnings per share (EPS) for the quarter, topping the consensus estimate 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 firm had revenue of $196.90 million during the quarter, compared to analyst estimates of $199.51 million. During the same quarter last year, the business earned $1.06 EPS. Equities analysts forecast that Bank of Hawaii Corporation will post 5.91 EPS for the current year.

Bank of Hawaii Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 15th. Shareholders of record on Monday, August 31st were paid a $0.70 dividend. The ex-dividend date of this dividend was Monday, August 31st. This represents a $2.80 annualized dividend and a yield of 3.9%. Bank of Hawaii's dividend payout ratio (DPR) is presently 52.24%.

Insider Transactions at Bank of Hawaii

In other Bank of Hawaii news, insider Marco Abbruzzese sold 2,441 shares of the 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 transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.97% of the stock is currently owned by insiders.

About Bank of Hawaii

Bank of Hawaii Corporation is a regional financial services company headquartered in Honolulu, Hawaii. Through its principal subsidiary, Bank of Hawaii, the company provides banking and financial services to individuals, businesses, government entities and institutional customers.

The bank offers deposit accounts, consumer and commercial loans, residential and commercial mortgages, credit cards and treasury management services. It also provides wealth management, trust, investment management and brokerage services, along with other financial products designed for personal and business customers.

Founded in 1897, Bank of Hawaii has a long history of serving the Pacific region.

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