Bank of Hawaii Corporation $BOH Shares Bought by AlphaQuest LLC

Key Points

• AlphaQuest LLC boosted its Bank of Hawaii stake by 229.6% in the fourth quarter, ending with 20,293 shares worth about $1.39 million.
• Bank of Hawaii reported Q1 earnings of $1.30 per share, slightly below estimates, on revenue of $192.32 million; analysts still expect 5.91 EPS for the full year.
• The bank declared a quarterly dividend of $0.70 per share, equal to an annualized yield of about 3.6%, with payment scheduled for June 12.

AlphaQuest LLC increased its holdings in Bank of Hawaii Corporation (NYSE:BOH - Free Report) by 229.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 20,293 shares of the bank's stock after acquiring an additional 14,136 shares during the period. AlphaQuest LLC owned about 0.05% of Bank of Hawaii worth $1,387,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Bleakley Financial Group LLC grew its stake in shares of Bank of Hawaii by 30.0% in the 4th quarter. Bleakley Financial Group LLC now owns 13,543 shares of the bank's stock valued at $926,000 after buying an additional 3,124 shares in the last quarter. Hantz Financial Services Inc. boosted its position in shares of Bank of Hawaii by 11.8% in the fourth quarter. Hantz Financial Services Inc. now owns 1,520 shares of the bank's stock valued at $104,000 after acquiring an additional 160 shares during the period. EverSource Wealth Advisors LLC boosted its position in shares of Bank of Hawaii by 63.9% in the fourth quarter. EverSource Wealth Advisors LLC now owns 800 shares of the bank's stock valued at $55,000 after acquiring an additional 312 shares during the period. IFP Advisors Inc boosted its position in shares of Bank of Hawaii by 58.1% in the fourth quarter. IFP Advisors Inc now owns 1,440 shares of the bank's stock valued at $98,000 after acquiring an additional 529 shares during the period. Finally, Marble Harbor Investment Counsel LLC lifted its position in Bank of Hawaii by 14.3% in the fourth quarter. Marble Harbor Investment Counsel LLC now owns 112,199 shares of the bank's stock worth $7,671,000 after purchasing an additional 14,075 shares during the period. 82.18% of the stock is currently owned by hedge funds and other institutional investors.

Bank of Hawaii Stock Performance

Shares of NYSE BOH opened at $77.85 on Thursday. The stock has a 50 day moving average of $76.79 and a 200-day moving average of $73.44. The company has a market capitalization of $3.08 billion, a P/E ratio of 15.73, a P/E/G ratio of 0.82 and a beta of 0.73. Bank of Hawaii Corporation has a 12 month low of $59.36 and a 12 month high of $82.74. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 0.37.

Bank of Hawaii (NYSE:BOH - Get Free Report) last released its quarterly earnings results on Monday, April 20th. The bank reported $1.30 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.33 by ($0.03). The firm had revenue of $192.32 million during the quarter, compared to the consensus estimate of $193.53 million. Bank of Hawaii had a net margin of 20.46% and a return on equity of 14.97%. During the same quarter last year, the firm earned $0.97 earnings per share. As a group, equities research analysts predict that Bank of Hawaii Corporation will post 5.91 EPS for the current year.

Bank of Hawaii Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 12th. Stockholders of record on Friday, May 29th will be issued a dividend of $0.70 per share. The ex-dividend date of this dividend is Friday, May 29th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.6%. Bank of Hawaii's payout ratio is 56.57%.

Analysts Set New Price Targets

Several research analysts have issued reports on BOH shares. Stephens increased their price objective on Bank of Hawaii from $82.00 to $86.00 and gave the stock an "overweight" rating in a research note on Tuesday, April 21st. Keefe, Bruyette & Woods boosted their price objective on Bank of Hawaii from $91.00 to $95.00 and gave the stock an "outperform" rating in a report on Tuesday, April 21st. Weiss Ratings raised Bank of Hawaii from a "buy (b-)" rating to a "buy (b)" rating in a research note on Wednesday, April 29th. Barclays lifted their price objective on shares of Bank of Hawaii from $83.00 to $86.00 and gave the stock an "equal weight" rating in a research note on Tuesday, April 7th. Finally, Piper Sandler reduced their target price on Bank of Hawaii from $84.00 to $78.00 and set a "neutral" rating on the stock in a report on Thursday, April 2nd. Three equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $85.40.

Bank of Hawaii Company Profile

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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