Basswood Capital Management L.L.C. Makes New $26.44 Million Investment in Bank of Hawaii Corporation $BOH

Basswood Capital Management L.L.C. acquired a new position in shares of Bank of Hawaii Corporation (NYSE:BOH - Free Report) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 324,499 shares of the bank's stock, valued at approximately $26,443,000. Basswood Capital Management L.L.C. owned about 0.82% of Bank of Hawaii at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the stock. Royal Bank of Canada raised its holdings in Bank of Hawaii by 16.4% during the first quarter. Royal Bank of Canada now owns 26,241 shares of the bank's stock worth $1,808,000 after acquiring an additional 3,689 shares in the last quarter. AQR Capital Management LLC boosted its position in Bank of Hawaii by 177.5% during the first quarter. AQR Capital Management LLC now owns 23,818 shares of the bank's stock valued at $1,617,000 after purchasing an additional 15,234 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Bank of Hawaii by 4.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 23,272 shares of the bank's stock valued at $1,605,000 after purchasing an additional 1,027 shares in the last quarter. Intech Investment Management LLC grew its stake in Bank of Hawaii by 35.8% in the first quarter. Intech Investment Management LLC now owns 19,808 shares of the bank's stock valued at $1,366,000 after purchasing an additional 5,227 shares in the last quarter. Finally, Strs Ohio acquired a new position in shares of Bank of Hawaii during the 1st quarter worth approximately $41,000. Institutional investors own 82.18% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the company. Benchmark reiterated a "hold" rating on shares of Bank of Hawaii in a research note on Tuesday, July 28th. Stephens cut shares of Bank of Hawaii from an "overweight" rating to an "equal weight" rating and set a $85.00 target price for the company. in a research note on Thursday, August 6th. Weiss Ratings restated a "buy (b)" rating on shares of Bank of Hawaii in a report on Friday, July 24th. Barclays dropped their price target on shares of Bank of Hawaii from $88.00 to $85.00 and set an "equal weight" rating on the stock in a research report on Tuesday, July 28th. Finally, Keefe, Bruyette & Woods cut their price target on shares of Bank of Hawaii from $95.00 to $92.00 and set an "outperform" rating for the company in a research note on Monday, August 3rd. 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, the company currently has an average rating of "Hold" and an average target price of $85.00.

Bank of Hawaii Price Performance

NYSE:BOH opened at $77.12 on Thursday. Bank of Hawaii Corporation has a 12-month low of $59.36 and a 12-month high of $86.31. The firm has a market capitalization of $3.04 billion, a price-to-earnings ratio of 14.39, a P/E/G ratio of 0.86 and a beta of 0.71. The stock's 50 day moving average price is $80.84 and its two-hundred day moving average price is $78.30. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.33.

Bank of Hawaii (NYSE:BOH - Get Free Report) last posted its earnings results on Monday, July 27th. The bank reported $1.47 earnings per share for the quarter, topping analysts' consensus estimates of $1.46 by $0.01. Bank of Hawaii had a return on equity of 15.72% and a net margin of 21.84%.The business had revenue of $196.90 million for the quarter, compared to analyst estimates of $199.51 million. During the same period in the previous year, the firm earned $1.06 EPS. On average, analysts anticipate that Bank of Hawaii Corporation will post 5.91 earnings per share for the current year.

Bank of Hawaii Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Monday, August 31st will be given a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 3.6%. The ex-dividend date of this dividend is Monday, August 31st. Bank of Hawaii's payout ratio is 52.24%.

Insider Activity at Bank of Hawaii

In other Bank of Hawaii news, insider Marco A. Abbruzzese sold 2,441 shares of the company's stock in a transaction on Tuesday, August 4th. The shares were sold at an average price of $81.59, for a total value of $199,161.19. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 1.97% of the stock is currently owned by corporate insiders.

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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