Bank of Hawaii Corporation $BOH Shares Acquired by Congress Asset Management Co.

Key Points

• Congress Asset Management increased its Bank of Hawaii stake by 22.1% in the third quarter, purchasing 35,106 additional shares and bringing its holdings to 194,081 shares valued at approximately $13.4 million.
• Institutional investors own 82.18% of Bank of Hawaii, while an insider recently sold 2,441 shares. The company reported quarterly EPS of $1.47, slightly above estimates, and maintains a $0.70 quarterly dividend, yielding about 4.2% annually.
• Bank of Hawaii shares opened at $67.27, below the analyst consensus price target of $85.00. Analysts largely remain cautious, with two Buy ratings and six Hold ratings, resulting in a consensus Hold rating.

Congress Asset Management Co. increased its holdings in shares of Bank of Hawaii Corporation (NYSE:BOH - Free Report) by 22.1% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 194,081 shares of the bank's stock after purchasing an additional 35,106 shares during the period. Congress Asset Management Co. owned 0.49% of Bank of Hawaii worth $13,376,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of the business. BlackRock Inc. bought a new stake in Bank of Hawaii in the 2nd quarter valued at $470,538,000. Dimensional Fund Advisors LP increased its holdings in shares of 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 valued at $82,182,000 after purchasing an additional 22,356 shares during the last quarter. NFJ Investment Group LLC bought a new position in shares of Bank of Hawaii in the second quarter valued at about $39,758,000. Bank of New York Mellon Corp bought a new position in shares of Bank of Hawaii in the second quarter valued at about $37,864,000. Finally, Deprince Race & Zollo Inc. acquired a new stake in shares of Bank of Hawaii during the 1st quarter worth about $34,385,000. Institutional investors and hedge funds own 82.18% of the company's stock.

Insiders Place Their Bets

In related news, insider Marco Abbruzzese sold 2,441 shares of the company's stock in a transaction dated Tuesday, August 4th. The shares were sold at an average price of $81.59, for a total transaction of $199,161.19. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 1.97% of the stock is owned by corporate insiders.

Bank of Hawaii Trading Down 1.1%

Shares of BOH stock opened at $67.27 on Wednesday. The stock has a market cap of $2.65 billion, a P/E ratio of 12.55, a price-to-earnings-growth ratio of 0.77 and a beta of 0.72. Bank of Hawaii Corporation has a 1 year low of $59.36 and a 1 year high of $86.31. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.33. The stock has a 50 day simple moving average of $75.77 and a 200 day simple moving average of $77.66.

Bank of Hawaii (NYSE:BOH - Get Free Report) last posted its quarterly earnings data on Monday, July 27th. The bank reported $1.47 EPS for the quarter, topping analysts' consensus estimates of $1.46 by $0.01. The firm had revenue of $196.90 million for the quarter, compared to analyst estimates of $199.51 million. Bank of Hawaii had a return on equity of 15.72% and a net margin of 21.84%.During the same quarter last year, the company earned $1.06 EPS. On average, research analysts predict that Bank of Hawaii Corporation will post 5.89 earnings per share for the current fiscal year.

Bank of Hawaii Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 15th. Investors of record on Monday, August 31st were paid a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 4.2%. The ex-dividend date of this dividend was Monday, August 31st. Bank of Hawaii's payout ratio is 52.24%.

Analysts Set New Price Targets

A number of brokerages recently commented on BOH. Weiss Ratings reiterated a "buy (b)" rating on shares of Bank of Hawaii in a research note on Friday, July 24th. Benchmark restated a "hold" rating on shares of Bank of Hawaii in a report on Tuesday, July 28th. Stephens downgraded 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 report on Thursday, August 6th. Piper Sandler lowered their target price on Bank of Hawaii from $85.00 to $78.00 and set a "neutral" rating on the stock in a research note on Thursday, October 1st. Finally, Barclays dropped 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 investment 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 stock has a consensus rating of "Hold" and an average price target of $85.00.

Bank of Hawaii Profile

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 consumers, businesses, government entities and institutional clients.

The bank offers consumer deposit accounts, residential and consumer lending, credit cards and online and mobile banking. Its business banking services include commercial lending, cash management, treasury services, commercial deposits and international banking.

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