California State Teachers Retirement System Buys 13,864 Shares of Bank of Hawaii Corporation $BOH

Key Points

• California State Teachers Retirement System increased its Bank of Hawaii stake by 37.3%, buying 13,864 shares to own 51,059 shares worth approximately $3.79 million. Institutional investors collectively own 82.18% of the company.
• Bank of Hawaii reported quarterly EPS of $1.47, narrowly beating estimates, while revenue of $196.9 million fell short of expectations. The bank also declared a $0.70 quarterly dividend, representing a 3.5% annualized yield.
• Analyst sentiment remains cautious: Bank of Hawaii has a consensus “Hold” rating and an average price target of $85, with several firms recently lowering ratings or price targets.

California State Teachers Retirement System lifted its position in Bank of Hawaii Corporation (NYSE:BOH - Free Report) by 37.3% in the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 51,059 shares of the bank's stock after purchasing an additional 13,864 shares during the period. California State Teachers Retirement System owned 0.13% of Bank of Hawaii worth $3,791,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Royal Bank of Canada raised its position in Bank of Hawaii by 16.4% during the 1st quarter. Royal Bank of Canada now owns 26,241 shares of the bank's stock valued at $1,808,000 after purchasing an additional 3,689 shares in the last quarter. AQR Capital Management LLC increased its stake in shares of 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 buying an additional 15,234 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Bank of Hawaii by 4.6% during 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 buying an additional 1,027 shares during the period. Intech Investment Management LLC raised its holdings in shares of 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 acquiring an additional 5,227 shares in the last quarter. Finally, Strs Ohio bought a new stake in shares of Bank of Hawaii in the first quarter valued at about $41,000. Institutional investors own 82.18% of the company's stock.

Insiders Place Their Bets

In other Bank of Hawaii news, insider Marco A. Abbruzzese sold 2,441 shares of Bank of Hawaii 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 document filed with the SEC, which is available through this link. 1.97% of the stock is currently owned by company insiders.

Bank of Hawaii Price Performance

BOH opened at $79.22 on Friday. The firm has a market capitalization of $3.13 billion, a PE ratio of 14.78, a price-to-earnings-growth ratio of 0.90 and a beta of 0.71. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.70 and a quick ratio of 0.70. The business's 50-day moving average is $80.54 and its two-hundred day moving average is $77.88. Bank of Hawaii Corporation has a 1 year low of $59.36 and a 1 year high of $86.31.

Bank of Hawaii (NYSE:BOH - Get Free Report) last released its quarterly earnings results on Monday, July 27th. The bank reported $1.47 EPS for the quarter, beating 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 business had revenue of $196.90 million during the quarter, compared to analyst estimates of $199.51 million. During the same period in the prior year, the firm posted $1.06 earnings per share. Research analysts anticipate that Bank of Hawaii Corporation will post 5.88 earnings per share for the current fiscal year.

Bank of Hawaii Dividend Announcement

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

Analyst Upgrades and Downgrades

Several research analysts have issued reports on BOH shares. Benchmark reiterated a "hold" rating on shares of Bank of Hawaii in a report on Tuesday, July 28th. Stephens lowered shares of Bank of Hawaii from an "overweight" rating to an "equal weight" rating and set a $85.00 price target for the company. in a report on Thursday. Barclays lowered their price target on shares of 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. Wall Street Zen downgraded shares of Bank of Hawaii from a "hold" rating to a "sell" rating in a research note on Saturday, April 25th. Finally, Weiss Ratings reissued a "buy (b)" rating on shares of Bank of Hawaii in a report on Friday, July 24th. Two equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company's stock. Based on data from MarketBeat, Bank of Hawaii currently has a consensus rating of "Hold" and a consensus price target of $85.00.

Bank of Hawaii 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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