Centaurus Financial Inc. Invests $1.17 Million in Bank of Hawaii Corporation $BOH

Key Points

• Centaurus Financial initiated a $1.17 million position in Bank of Hawaii during the second quarter by purchasing 14,393 shares. Institutional investors collectively own 82.18% of the company.
• Analysts maintain a generally cautious view, with a consensus “Hold” rating and an average price target of $85.00; the stock recently opened at $77.19.
• Bank of Hawaii exceeded quarterly earnings expectations with $1.47 in EPS versus $1.46 forecast and declared a quarterly dividend of $0.70 per share, representing a 3.6% annualized yield.

Centaurus Financial Inc. bought a new stake in shares of Bank of Hawaii Corporation (NYSE:BOH - Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 14,393 shares of the bank's stock, valued at approximately $1,173,000.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Royal Bank of Canada increased its holdings in Bank of Hawaii by 16.4% in the first quarter. Royal Bank of Canada now owns 26,241 shares of the bank's stock valued at $1,808,000 after buying an additional 3,689 shares in the last quarter. AQR Capital Management LLC boosted its stake in shares of Bank of Hawaii by 177.5% during the 1st quarter. AQR Capital Management LLC now owns 23,818 shares of the bank's stock worth $1,617,000 after acquiring an additional 15,234 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of Bank of Hawaii by 4.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 23,272 shares of the bank's stock valued at $1,605,000 after acquiring an additional 1,027 shares during the period. Intech Investment Management LLC grew its position in shares of Bank of Hawaii by 35.8% during the 1st 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 during the period. Finally, Strs Ohio purchased a new position in shares of Bank of Hawaii in the 1st quarter valued at about $41,000. 82.18% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

BOH has been the subject of a number of recent analyst reports. Weiss Ratings restated a "buy (b)" rating on shares of Bank of Hawaii in a research report on Friday, July 24th. 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. Stephens cut shares of Bank of Hawaii from an "overweight" rating to an "equal weight" rating and set a $85.00 price target on the stock. in a research note on Thursday, August 6th. DA Davidson boosted their price target on shares of Bank of Hawaii from $80.00 to $85.00 and gave the stock a "neutral" rating in a report on Tuesday, July 28th. Finally, Barclays reduced their price objective 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. Two equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company's stock. According to data from MarketBeat, Bank of Hawaii presently has a consensus rating of "Hold" and an average price target of $85.00.

Insider Activity

In other news, insider Marco A. Abbruzzese sold 2,441 shares of the stock in a transaction dated Tuesday, August 4th. The shares were sold at an average price of $81.59, for a total value of $199,161.19. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.97% of the stock is owned by insiders.

Bank of Hawaii Stock Performance

NYSE BOH opened at $77.19 on Friday. 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 stock's 50 day simple moving average is $80.83 and its 200-day simple moving average is $78.29. The company has a market cap of $3.05 billion, a PE ratio of 14.40, a price-to-earnings-growth ratio of 0.88 and a beta of 0.71. 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 issued its quarterly earnings results on Monday, July 27th. The bank reported $1.47 EPS for the quarter, topping the consensus estimate 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 firm had revenue of $196.90 million during the quarter, compared to analysts' expectations of $199.51 million. During the same period in the previous year, the business earned $1.06 earnings per share. As a group, equities research analysts anticipate that Bank of Hawaii Corporation will post 5.91 EPS for the current fiscal year.

Bank of Hawaii Announces Dividend

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

About Bank of Hawaii

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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